Hello, and welcome to the 2025 Annual Meeting of Stockholders of Beneficient, the Annual Meeting. It is my pleasure to introduce Brad Heppner, the Chief Executive Officer and Chairman of the Board of Directors of Beneficient. Mr. Heppner, the floor is yours.
Good morning, ladies and gentlemen. I am Brad Heppner, Beneficient's Chief Executive Officer and Chairman of the Board of Directors. I will act as Chairman of this meeting, and David Rost, our General Counsel, will act as Secretary of this meeting. The Annual Meeting of Beneficient is hereby called to order. I would like to welcome our stockholders and guests who are in attendance today. Additionally, I would like to introduce Leicia Savinetti , a representative of Continental Stock Transfer and Trust Company, the company's transfer agent, who will act as our Inspector of Election. Our transfer agent has been instructed to receive, examine, and tabulate the proxies, and to report on the voting by proxies. Copies of the agenda and rules of conduct for this meeting are available in the Meeting Documents tab, which is located at the top of your screen in the virtual meeting viewing platform.
I have in my possession an affidavit sworn to by Continental Stock Transfer and Trust Company, and duly signed as to the mailing of the notice of the meeting, which states that on March 21, 2025, the notice of the meeting, together with the related proxy materials, was mailed to stockholders of record as of the close of business on February 28, 2025, the record date for this meeting.
As set forth in the Notice of Annual Meeting of Stockholders and the Agenda, available in the Meeting's Document tab, the principal items of business for this meeting are as follows: Proposal number one, the Director Election Proposal, to elect seven directors to serve until the company's 2026 Annual Meeting of Stockholders and until their successors are duly elected and qualified. Proposal number two, the Auditor Ratification Proposal, to ratify the appointment of Weaver & Tidwell, LLP, as the company's independent registered public accounting firm for the year ending March 31, 2025. When the report of the Inspector of Election is complete, we will announce the preliminary voting results. After the meeting is adjourned, we will follow up to address any questions submitted by stockholders through the virtual meeting viewing platform that abide by the rules of conduct for this meeting via email.
You may access the rules of conduct in the Meeting Documents tab. The second agenda item is the Declaration of Quorum. The Inspector of Election has in her possession a certified list of the company's stockholders of record as of the close of business on the record date, which was February 28, 2025, and the respective number of shares entitled to vote at this meeting. The stockholder list will be filed with the minutes of this meeting. Leicia, will you please present your report of attendance at this meeting so that we can determine whether a quorum is present?
There were 8,432,698 shares of Class A common stock and 239,257 shares of Class B common stock entitled to vote as of the record date. I've been informed that there is less than a majority of the voting power of all outstanding shares of capital stock of the company entitled to vote at the Annual Meeting are present in person or represented by a proxy at the Annual Meeting.
Thank you, Leicia. Therefore, I declare that a quorum is not present for the purpose of transacting business at this meeting in accordance with Section 2.6 of the company's bylaws. In the absence of a quorum, I announce that this meeting is being adjourned to allow more time for the solicitation of proxies and voting. The meeting will be reconvened on April 16, 2025, at 9:00 A.M. Central Time. The voting polls will remain open for voting on the Director Election Proposal and the Auditor Ratification Proposal until the Inspector of Election has collected all ballots and proxies at the time this meeting is reconvened and the voting polls closed. To vote over the internet prior to the reconvened meeting, please go to the website https://cstproxy.com/beneficient/2025 and follow the instructions at that site for submitting your proxy electronically. The reconvened meeting will be conducted virtually at https://cstproxy.com/beneficient/2025.
The meeting has now concluded. We appreciate your attendance and your support.