̨ɫ Group Announces Notice of Proposed Shareholder Written Resolution
East Rutherford, NJ – July 31, 2018 – ̨ɫ Ltd. (NYSE: HUD) (“̨ɫ Group” or “Company”), a leader in North American travel retail, announced the Notice of a Proposed Shareholder Written Resolution which if passed by the Company's shareholders will adopt new bye-laws of the Company.
The new bye-laws will make certain amendments to the Company’s existing bye-laws which, among other matters, will permit the appointment of one or more Deputy Chairman of the Board of Directors of the Company (the “Board”). The proposed text of the new bye-laws has been furnished to the U.S. Securities Exchange Commission (“SEC”) on Form 6-K and may be accessed free of charge on the SEC’s website and on the Company’s website.
The Proposed Shareholder Written Resolution will be passed when it is signed by registered shareholders who as of today (being the date the notice of the proposed resolution is given) hold a simple majority of the total voting rights of all issued and outstanding shares of the Company, provided such majority includes at least one shareholder holding Class B common shares of the Company.
Subject to the adoption of the new bye-laws, the Board has appointed Mr. James Cohen, a member of the Board, as an additional Deputy Chairman of the Board.