HOUSTON – EON Resources Inc. (NYSE American:EONR), a company specializing in crude petroleum and natural gas, has announced October 30, 2024, as the date for its inaugural annual meeting of stockholders. The record date for determining stockholders eligible to vote at the meeting is set for September 30, 2024.
This announcement, made through an SEC filing today, marks the first annual meeting since the company's establishment. EON Resources, formerly known as HNR Acquisition Corp., underwent a name change on January 26, 2021.
The company will provide further information regarding the time, location, and agenda of the 2024 Annual Meeting in its upcoming proxy statement. Stockholder proposals for the meeting must be submitted to the company's principal executive offices by the close of business on October 1, 2024. These proposals must also comply with the rules and regulations of the Securities and Exchange Commission to be considered for inclusion in the proxy materials.
EON Resources Inc. has also stipulated that any business a stockholder wishes to bring before the meeting must adhere to the same October 1 deadline. The company's by-laws require proper notice to be given by this date for a stockholder's business to be properly presented at the meeting.
The announcement comes as EON Resources continues to operate in the energy and transportation sector, with its business address located at 3730 Kirby (NYSE:KEX) Drive, Suite 1200, Houston, Texas. The company's Class A Common Stock and redeemable warrants are both listed on the NYSE American exchange, with the symbols EONR and EONR WS respectively.
Stockholders or interested parties are directed to submit their proposals to the Secretary of EON Resources Inc. at the Houston address provided in the SEC filing. This filing confirms EON Resources' compliance with the regulatory requirements for notifying stockholders of the annual meeting details and the process for submitting stockholder proposals.
InvestingPro Insights
As EON Resources Inc. prepares for its inaugural annual meeting, investors are closely monitoring the company's performance metrics. According to InvestingPro data, EON Resources has a market capitalization of $7.92 million, indicating a relatively small player in the energy sector. The company's revenue for the last twelve months as of Q2 2024 stands at $22.96 million, but it has experienced a significant decline in revenue growth, down by 57.85%. This contraction in revenue growth is a critical factor for stockholders to consider as they assess the company's future prospects.
InvestingPro Tips highlight that EON Resources' stock has been under considerable pressure, with a price total return of -90.0% over the last year and a -51.57% return over the past month. These figures suggest that the stock has been facing headwinds, which may be a point of discussion during the upcoming annual meeting. Moreover, the relative strength index (RSI) suggests that the stock is currently in oversold territory, which could interest investors looking for potential entry points.
For stockholders and potential investors looking to delve deeper into EON Resources' financial health and future outlook, more InvestingPro Tips are available at https://www.investing.com/pro/EONR. These additional insights could provide valuable context for the discussions and decisions that will take place during the annual meeting.
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