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JERSEY CITY, N.J., Nov. 14, 2019 (GLOBE NEWSWIRE) -- SITO Mobile, Ltd. (NASDAQ: SITO) (the “Company” or “SITO”), an insights-driven Consumer Behavior and Location Sciences™ company, today announced that it intends to postpone its Annual Meeting of Stockholders, scheduled for 10 a.m. ET on Friday, November 15, 2019 at the offices of Pepper Hamilton LLP, The New York Times Building, 620 Eighth Avenue, 37th Floor, New York, New York, based on communication from the Securities and Exchange Commission (the “SEC”) that it intends to and is in process of reviewing the definitive proxy materials submitted by SITO.
Proxy statement Proposal No. 2, regarding the issuance of shares of Company common stock in its all-stock acquisition of MediaJel, Inc., is the only proposal in the definitive proxy materials subject to review. However, the Company has determined it more efficient to reschedule the 2019 Annual Meeting of Stockholders, once any comments and observations received from the SEC are addressed and SEC approval of the proxy materials is obtained.
Prior to the decision to postpone, a sufficient number of shares had been voted or presented by stockholders or their proxies to constitute a quorum. Depending on the significance on the definitive proxy materials of SEC comments and observations, votes that have been cast to date and until the polls close or a stockholder has revoked their proxy, a stockholder’s proxy will still be in effect and will be voted once the Annual Meeting is rescheduled and convened. However, a stockholder will still be able to change or revoke their proxy with respect to any proposal until the meeting convenes and the polls close for voting on such proposal.
About SITO Mobile, Ltd.
SITO (NASDAQ:SITO) is a leading mobile data technology company that provides brands customized, data-driven solutions spanning strategic insights and media campaign delivery services. Through Consumer Behavior and Location Sciences™, SITO explores the consumer journey and presents powerful strategic knowledge assets and actionable insights for executives and strategic decision makers looking to understand and influence consumer behaviors. Brands and agencies rely on SITO as a strategic partner for real-time understanding of customer movement, interest, action, association, and experience, ultimately providing increased clarity for better business decisions. SITO is headquartered in Jersey City, New Jersey and its common stock is publicly traded on the NASDAQ Stock Market under the ticker symbol “SITO.” For more information regarding SITO’s science, technology and solutions spanning media and research, please visit www.sitomobile.com.
Cautionary Statement Regarding Certain Forward-Looking Information
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside SITO’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to recognize the anticipated benefits of the proposed transaction; SITO’s ability to raise additional equity capital; SITO’s ability to meet the listing standards of the NASDAQ Stock Market; an inability to successfully register the shares for resale in accordance with the Securities Act or the requirements of the Securities and Exchange Commission; unexpected costs, liabilities or delays related to the contemplated registration of the shares for resale; general economic and market conditions impacting demand for the Company’s services; or other conditions not yet contemplated. Additional risks and factors that may affect results are set forth in SITO’s filings with the SEC, including its Annual Report on Form 10-K filed with the SEC on April 1, 2019 and its subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC, which are available on the SEC's website at www.sec.gov. See in particular Item 1A of SITO’s Annual Report on Form 10-K under the headings "Risk Factors." The risks and uncertainties described above and in SITO’s SEC filings are not exclusive and further information concerning its business, including factors that potentially could materially affect its business, financial condition or operating results, may emerge from time to time. Readers are urged to consider these factors carefully in evaluating these forward-looking statements.
SITO undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Brett Maas Hayden IR