Item 5.07. Submission of Matters to a Vote of Security Holders.
SEAC Shareholders’ Meeting
On May 7, 2024, Screaming Eagle Acquisition Corp., a Cayman Islands exempted company (“SEAC”), held an extraordinary general meeting of shareholders (the “SEAC Shareholders’ Meeting”) in connection with its proposed business combination (the “Business Combination”) with Lions Gate Entertainment Corp. (“Lionsgate”).
On April 16, 2024, the record date for the SEAC Shareholders’ Meeting, there were 35,925,223 Class A ordinary shares, par value $0.0001 per share, of SEAC (“Class A Ordinary Shares” or “public shares”) and 18,750,000 Class B ordinary shares, par value $0.0001 per share (“Class B Ordinary Shares” and together with the Class A Ordinary Shares, the “Ordinary Shares”), entitled to be voted at the SEAC Shareholders’ Meeting. At the SEAC Shareholders’ Meeting, 30,667,546 Ordinary Shares, or approximately 85.4% of the shares entitled to vote at the SEAC Shareholders’ Meeting, were represented in person or by proxy, which constituted a quorum.
SEAC’s shareholders voted on the following proposals at the SEAC Shareholders’ Meeting, each of which were approved. The final vote tabulation is set forth below.
Shareholder Proposal No. 1 – Business Combination Proposal
A proposal to approve, by special resolution, the business combination agreement, dated December 22, 2023, by and among SEAC, Lionsgate, LG Sirius Holdings ULC, a British Columbia unlimited liability company and a wholly owned subsidiary of Lionsgate (“Studio HoldCo”), LG Orion Holdings ULC, a British Columbia unlimited liability company and a wholly-owned subsidiary of Lions Gate Parent (“StudioCo”), SEAC II Corp., a Cayman Islands exempted company and a wholly-owned subsidiary of SEAC (“New SEAC” or “Pubco” following the consummation of the Business Combination), SEAC MergerCo, a Cayman Islands exempted company and a direct, wholly-owned subsidiary of New SEAC (“MergerCo”), 1455941 B.C. Unlimited Liability Company, a British Columbia unlimited liability company and a direct, wholly-owned subsidiary of SEAC (“New BC Sub”), and the other parties thereto (the “BCA Parties”) (as amended on April 11, 2024 and as may be further amended, supplemented or otherwise modified from time to time, the “Business Combination Agreement”), and the transactions contemplated thereby (the “Business Combination Proposal”).
The voting results for such proposal were as follows:
| | | | |
For | | Against | | Abstain |
29,659,455 | | 1,008,091 | | 0 |
Shareholder Proposal No. 2 – SEAC Merger Proposal
A proposal to approve, by special resolution, assuming the Business Combination Proposal is approved and adopted, the SEAC Merger (as defined in the Business Combination Agreement) and the Plan of Merger, as contemplated by the Business Combination Agreement, pursuant to which, SEAC will merge with and into MergerCo, with MergerCo as the surviving entity.
The voting results for such proposal were as follows:
| | | | |
For | | Against | | Abstain |
29,659,454 | | 1,008,092 | | 0 |
Shareholder Proposal No. 3 – Advisory Organizational Documents Proposals
To approve on a non-binding advisory basis, by ordinary resolution, the governance provisions contained in the notice of articles and articles of Pubco to be adopted in connection with the Business Combination that materially affect the rights of SEAC’s shareholders, presented as the following sub-proposals:
| (a) | A proposal to increase the number of authorized share capital to unlimited number of common shares of Pubco, without par value: |
| | | | |
For | | Against | | Abstain |
26,607,371 | | 3,786,279 | | 273,896 |