Houston American Energy Corp. (NYSE American:HUSA), a crude petroleum and natural gas company, announced the results of its Annual Meeting held on June 20, 2024. Shareholders voted on several key proposals that will shape the company's future.
The first proposal involved the election of Stephen Hartzell as a Class B Director. Hartzell was elected to serve until the 2027 Annual Meetings of Stockholders, with 1,194,155 votes for, none against, and 699,869 abstentions. There were also 2,590,041 broker non-votes.
In a significant corporate development, the second proposal to amend the company's certificate of incorporation was approved. This amendment increases the authorized shares of common stock to 20,000,000 shares. The approval received 3,053,368 votes for, 1,390,567 against, and 40,130 abstentions.
The third proposal saw the ratification of Marcum LLP as the company's independent registered public accounting firm for the fiscal year 2024. This proposal received strong support, with 3,886,288 votes for, 457,696 against, and 140,081 abstentions.
Lastly, the compensation of the named executive officers as disclosed in the Proxy Statement was approved on an advisory basis. The executive compensation received 1,688,757 votes for, 176,385 against, and 28,882 abstentions, with 2,590,041 broker non-votes.
The results of the Annual Meeting reflect shareholder confidence in the current management and the strategic direction of Houston American Energy Corp. The approval of the increase in authorized shares could provide the company with the flexibility to fund future growth opportunities or undertake strategic initiatives.
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