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Net Element Announces Results Of Its Annual Meeting Of Shareholders Held December 5th

Stocks in this article: NETE

Net Element (NASDAQ: NETE) (the “Company”), a technology-driven group specializing in mobile payments and value-added transactional services in emerging countries and in the United States announced today that at its Annual General Meeting of Shareholders held on December 5, 2013 in Miami, Florida, the proposed resolutions described in the Proxy Statement to the Shareholders dated November 4, 2013 and described hereunder were approved by the required vote of Shareholders:

1. Oleg Firer, Dmitry Kozko, Kenges Rakishev, Mike Zoi, David P. Kelley II, James Caan and Felix Vulis were re-elected as directors of the Company until the close of the next Shareholder’s Annual General Meeting of the Company;

2. the Company’s 2013 Equity Incentive Plan was approved;

3. the Shareholders ratified the selection of independent auditor BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2013;

4. the compensation of the Company’s named executive officers was approved by Shareholders, on an advisory (nonbinding) basis;

5. the Shareholders approved, on an advisory (nonbinding) basis, holding advisory votes on the compensation of the Company’s named executive officers once every three years;

6. the Shareholders approved the issuance, of such number of shares of common stock of the Company equal to 10% of the Company’s issued and outstanding common stock as of the date of issuance of such shares in exchange for the Company’s acquisition of 10% of the outstanding shares of TOT Group, Inc.;

7. the Shareholders approved the issuance of 75,000 shares of common stock of the Company to Curtis Wolfe as severance and compensation for his service as an employee of the Company until February 15, 2013, the date his employment with the Company was terminated;

8. the Shareholders approved the issuance, of such number of shares of common stock of the Company equal to up to 4% of the Company’s issued and outstanding common stock as of the date of issuance of such shares to K1 Holding Limited; and

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