Global Arena Holding Recaps 14A Filing for Annual Shareholder Meeting
17 October 2018 - 12:37AM
InvestorsHub NewsWire
New York, NY -- October 16, 2018 -- InvestorsHub NewsWire --
Global Arena Holding, Inc.(the “Company”) (OTC PINK: GAHC),
announced today, that on Monday, October 15, 2018, the Company
filed a 14A for the Annual Meeting of Stockholders (“Annual
Shareholders Meeting”), with anticipation of GAHC being well
positioned to increase shareholder confidence and achieve
management’s goal of delivering quantifiable value to its
market.
“We will soon hold the most exciting, important and highly
anticipated Annual Shareholder Meeting in quite some time,” stated
John Matthews, CEO of Global Arena Holding, Inc. “The
outcome of this particular meeting could potentially steer the
Company in a direction of growth that is incredibly strong,
consistent and efficiently scalable.
“This is why we listened closely to our shareholders and
worked diligently over the past two years to increase the intrinsic
value of our marketplace. We did our best to reduce
toxic dilution, position the company to secure multi-million-dollar
opportunities and most important, adjust the originally proposed 1
for 7.5 reverse split, down to a reasonable and responsible, 1 for
4 reverse split.
“We have deals in place to complete: the full acquisition of our
primary revenue source; an international partnership with prominent
Swiss blockchain software development company; hiring of an
Information Security vet of 25 years as GAHC’s Chief Information
Officer; and, our subsidiary’s joint venture to institute online
e-voting software and web portal solutions for our
clients. Should we receive the full support of our
shareholders, we will be able to solidify each of these
opportunities – putting Global Arena Holding in a really good
position.”
The Company has invited shareholders to attend the 2018 Annual
Shareholder’s Meeting on November 16th, 2018 at 9:00 a.m.
(est). The Annual Shareholder’s Meeting will be held at
the Hilton Garden Inn/Manhattan East, located at 206 East
52ndStreet, New York, New York 10022.
Shareholders will be asked to consider and vote upon: (1) elect
three (3) directors to serve for the ensuing year as members of the
Board of Directors of the Company; (2) authorize the Company to
effectuate a 1 for 4 reverse split of all outstanding common
shares; and, (3) transact such other business as may properly come
before the Annual Meeting or at any continuation, postponement or
adjournment thereof. Shareholders will be mailed a
Notice of Annual Meeting of Stockholders and a Proxy Statement
describing these matters in more detail.
Management would like for shareholders to lend their
consideration and view the adjustment to the reverse split, down
from 1 for 7.5, to a reasonable and still effective, 1 for 4
reverse split, as a responsible compromise for a necessary
action. The Board of Directors carefully reviewed all
options available regarding the capital structure, including
increasing the authorized shares. However, to complete
transactions and hire certain highly coveted executive talent, both
vital to the ultimate value of the Company, it was determined that
with certain renegotiations, a 1 for 4 reverse split, would be
deemed an appropriate action meant to close pending deals and shore
up shareholder confidence. Further, some of the
pending agreements will require the issuance of additional
shares. This requirement cannot be met without a fair
and reasonable 1 for 4 reverse split.
Mr. Matthews concluded, “We are looking forward to meeting
with shareholders on November 16th and anticipate having their full
support in continuing to grow the Company. I encourage
everyone to please continue contacting us with any questions,
concerns or thoughts you may have about the upcoming 2018 Annual
Shareholder Meeting. It is a pleasure to know, that with
your support, we will be able to close those deals that will ensure
continued revenue, growth and opportunity for us all.”
Management will provide further insight on various aspects of
the 14A as the day of the Annual Shareholder Meeting nears
closer.
About Global Arena Holding
Global Arena Holding, Inc. trades on the OTC Pink Sheets under
the ticker symbol GAHC. The Company has been publicly
traded since 2011 and holds a number of interests, including Global
Elections Services, Inc. and GAHI Acquisition Corp. The
Company focuses on acquiring technologies, patents and companies
having the ability to leverage the blockchain crypto
technology.
For more information
visit: http://globalarenaholding.com
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward-looking statements. Certain information
included in this press release contains statements that are
forward-looking, such as statements related to the future
anticipated direction of the industry, plans for future expansion,
various business development activities, planned or required
capital expenditures, future funding sources, anticipated sales
growth, and potential contracts. Such forward-looking information
involves important risks and uncertainties that could significantly
affect anticipated results in the future and, accordingly, such
results may differ from those expressed in any forward-looking
statements made by, or on behalf of, the company. These risks and
uncertainties include, but are not limited to, those relating to
development and expansion activities, dependence on existing
management, financing activities, domestic and global economic
conditions, and other risks and uncertainties described in the
Company's periodic filings with the Securities and Exchange
Commission.
CONTACT:
Global Arena Holding, Inc.
208 East 51stStreet Suite 112
New York, NY 10022
kathryn@globalarenaholding.com
Tel: 646-801-5524
www.globalarenaholding.com
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