Item 5.07 Submission of Matters to a Vote of Security Holders.
On August 22, 2022, East Stone Acquisition Corporation (the "Company" or "East
Stone") held a special meeting of shareholders (the "Extension Meeting") to
amend the Company's amended and restated memorandum and articles of association
(the "Charter Amendment") to extend the date by which the Company has to
consummate a business combination from August 24, 2022 to February 24, 2023 (the
"Extension Amendment Proposal"). There were 7,168,244 ordinary shares of the
Company issued and outstanding on July 25, 2022, the record date for the
Extension Meeting. At the Extension Meeting, there were 5,071,252 shares present
in person or by proxy, representing approximately 70.75% of the total shares
outstanding as of the record date, which constituted a quorum.
The final voting results for the Extension Amendment Proposal were as follows:
For Against Abstain Broker Non-Votes
5,070,755 494 3 0
Shareholders holding 22,807 shares of the Company's ordinary shares exercised
their right to redeem such shares for a pro rata portion of the funds in the
Company's trust account ("Trust Account"). As a result, approximately
$234,598.53 (approximately $10.29 per share) will be removed from the Trust
Account to pay such holders.
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