EON Resources Inc. (NYSE American:EONR), a company in the crude petroleum and natural gas industry, has announced an amendment to its bylaws affecting stockholder meeting quorum requirements. The Board of Directors has approved a reduction in the quorum needed for stockholder meetings to one-third (33.33%) of the voting power of the shares issued and outstanding and entitled to vote.
This decision, effective as of Monday, was also retroactively applied to the company's upcoming 2024 Annual Meeting of Stockholders, which is scheduled for December 10, 2024. The meeting will be conducted via live webcast, allowing stockholders to participate remotely.
The amendment to the bylaws represents a significant change in how EON Resources manages stockholder engagement and decision-making processes. By lowering the quorum, the company aims to facilitate the conduct of meetings and the passage of resolutions even if a smaller number of stockholders are present or represented.
EON Resources, formerly known as HNR Acquisition Corp. and headquartered in Houston, Texas, has its common stock and warrants listed on the NYSE American under the symbols "EONR" and "EONR WS," respectively. Warrants are exercisable for three quarters of one share of Class A Common Stock at an exercise price of $11.50 per share.
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