In This Article:
The Board of Directors recommends voting FOR the proposals enabling Zapp to continue executing its plan to regain compliance with Nasdaq’s standards for continued listing
LONDON, May 12, 2025 (GLOBE NEWSWIRE) -- Zapp Electric Vehicles Group Limited (Nasdaq: ZAPP) (“Zapp EV” or the “Company”), owner of “Zapp”, the British electric vehicle brand on a mission to revolutionise personal urban mobility, reminds shareholders to vote their proxy in favor of the Company’s proposals prior to the annual general meeting of shareholders (the “Annual Meeting”) scheduled to be held on May 15, 2025 at 2 p.m. Greenwich Mean Time (10 a.m. Eastern Daylight Time).
Jeremy North, President of Zapp EV, said: “Passage of these proposals will enable Zapp to continue on its plan to regain compliance with Nasdaq’s standards for continued listing. We thank those shareholders that have already voted for the proposals and would appreciate all other shareholders who have not yet done so to please submit your vote today.”
HOW TO VOTE
Shareholders as of the Annual Meeting’s record date, April 24, 2025, are entitled to vote at the Annual Meeting, but are encouraged to vote their proxy beforehand. Zapp’s Board of Directors urges all shareholders to vote “FOR” all three proposals. Please vote your shares “FOR” the proposals today by responding to the proxy materials that were previously sent to all shareholders as at the record date. The Notice of Annual General Meeting, Proxy Card and the Company’s Annual Report on Form 20-F are available at https://www.cstproxy.com/zappev/2025/.
THE FOLLOWING WAS CONSIDERED BY THE BOARD PRIOR TO ITS APPROVAL RECOMMENDATION
Approval of the proposals to increase authorised capital and subsequently effect a reverse stock split are necessary steps in the Company’s plan to regain compliance with Nasdaq’s standards for continued listing. Failure to complete the plan is expected to result in the Company’s ordinary shares being delisting from Nasdaq, which will cause the Company to lose access to its current sources of funding. If the ordinary shares of Zapp EV are delisted from Nasdaq, this could adversely affect the value of the securities and trading volume, making it more difficult to buy and sell the shares.
About Zapp EV
Zapp EV (Nasdaq: ZAPP) and its operating subsidiaries are run by a team of experts from the mobility industry, on a mission to redefine the electric two-wheeler segment. Zapp's debut product, the i300, is an urban electric high-performance two-wheeler capable of traditional motorcycle levels of performance in a step-through format, combining ease of use with exhilaration and fun. The i300 is the first in a suite of high-performance electric two-wheelers that Zapp plans to bring to market. Zapp will offer a high-quality direct-to-customer experience known as DSDTC (drop-ship-direct-to-customer). Customers ordering the i300 online will have their bikes conveniently delivered to their home by authorised “Zappers,” who will provide at-home inspection, service and support throughout the vehicle ownership lifecycle. Zapp is a registered trademark of Zapp Electric Vehicles Limited in the United Kingdom and other countries. For more information, visit www.zappev.com.