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SAN JOSE, Calif., Oct. 26, 2018 (GLOBE NEWSWIRE) -- Sphere 3D Corp. (ANY) (the “Company”), a company delivering containerization, virtualization, and data management solutions via hybrid cloud, cloud and on-premise implementations through its global reseller network and professional services organization, today announces that it has postponed its upcoming special meeting of shareholders (the "Special Meeting"), originally scheduled for October 26, 2018. The postponement will allow more time for the tabulation of votes and for holders of shares which have not been voted to vote their shares, and allow the Company’s management to continue ongoing discussions with shareholders concerning the matters subject to a vote at the meeting.
As set forth in the Company’s proxy statement and management information circular (the “Circular”), the Special Meeting has been called to consider, and if deemed advisable, to pass (i) a special resolution authorizing an amendment to the Company’s articles to effect a share consolidation at a ratio ranging from one-for-two to one-for-ten, to be determined by the Board and (ii) an ordinary resolution to amend the Company’s 2015 performance incentive plan, and to transact such other business as may properly come before the Meeting.
The Special Meeting will now be held at Cityview Plaza, 100 West San Fernando Street, Suite 340, San Jose, CA 95113, on Wednesday, October 31, 2018 at 10:00 a.m. (Pacific Time) or at any adjournment(s) or postponement(s) thereof.
As a result of the postponement of the Special Meeting, the deadline for proxies to be received is now 11:59 p.m. (Eastern Time) on October 30, 2018. Shareholders who have already submitted a form of proxy and do not wish to change their vote need not take any further action. Shareholders continue to have the right to revoke or change their proxies prior to the commencement of the Special Meeting in accordance with the procedures set forth in the Circular.
The record date for the Special Meeting has not changed and remains the close of business on September 17, 2018.
About Sphere 3D
Sphere 3D Corp. (ANY) delivers containerization, virtualization, and data management solutions via hybrid cloud, cloud and on-premises implementations through its global reseller network and professional services organization. Sphere 3D, along with its wholly owned subsidiaries Overland Storage and Tandberg Data, has a strong portfolio of brands, including Overland-Tandberg, HVE ConneXions and UCX ConneXions, dedicated to helping customers achieve their IT goals. For more information, visit www.sphere3d.com. Follow us on Twitter @Sphere3D, @HVEconneXions, @ovltb.