Hello, and welcome to the EQT Corporation Special Meeting of Shareholders. Please note that today's meeting is being recorded. It is now my pleasure to turn today's meeting over to Lydia Beebe, Independent Chair of the Board of Directors of EQT Corporation. Ms. Beebe, the floor is yours.
Thank you. Good morning, ladies and gentlemen. It is my pleasure to also welcome you to the special meeting of the shareholders of EQT Corporation. This meeting has been convened for the purpose of affording you, our shareholders, the opportunity to consider and vote upon the proposal to approve the issuance of shares of EQT's common stock in connection with the planned acquisition of the upstream and midstream businesses of Alta Resources. For the various reasons described in the proxy statement distributed in connection with this meeting, EQT's Board has unanimously recommended that you vote for the proposals presented today.
I would now like to introduce Mr. Toby Rice, EQT's President and Chief Executive Officer, who will preside over the remainder of today's meeting. Thank you.
Thank you, Lydia, and welcome to this morning's special meeting. A list of rules governing the meeting can be found in the agenda and procedures document available on the left hand side of the virtual meeting screen. I now call this meeting to order. The Corporate Secretary, Will Jordan, has presented a copy of the notice of meeting and the affidavits showing that each shareholder of record received by mail, the notice, the proxy statement and the proxy card as required by law. Based on the preliminary report of voting results provided by our proxy solicitor, we will proceed as if a quorum is present for the transaction of business at this meeting, subject to final certification by the judges of election.
The Board of Directors has appointed Alison Graham, Ashley Graziano and Monique Hughes as judges of election, and each is present at the meeting today. The judges of election have executed an affidavit under oath with respect to their duties and the affidavit has been filed with the record of this meeting. Let's now proceed to the matters to be voted on. 2 matters were presented in the proxy statement for the shareholder consideration, each of which was proposed by the Board of Directors. The first item on the agenda is the approval for purposes of complying with applicable New York Stock Exchange listing rules of the issuance of shares of EQT Corporation common stock in an amount that exceeds 20% of the currently outstanding shares in connection with transactions contemplated by the membership interest purchase agreement dated as of May 5, 2021, by Inamang EQT Corporation, EQT Acquisition Holtco LLC, Alta Resources Development LLC, Alta Marcellus Development LLC and Ard Operating LLC.
I will refer to this as the stock issuance proposal. The Board recommends a vote for this proposal. The second item on the agenda, which I will refer to as item 2, is the approval of 1 or more adjournments of this special meeting, if necessary, to permit the solicitation of additional votes. As described in the company's proxy statement, item 2 will only be presented for vote if there are not sufficient votes cast to approve the stock issuance proposal. We will now proceed with the voting.
It is 9:0:3 a. M. The polls are now open. I now call for a vote on Item 1, the stock issuance proposal. Based on the preliminary report of voting results provided by our proxy solicitor, Item 2 will not be voted on at today's meeting.
If there are any shareholders present who have not submitted their proxies and wish to vote at this time, please do so by clicking the link provided in the online meeting portal. If you voted before today's meeting via phone, Internet or mail, there is no need to cast your vote again today. We'll pause for a moment to allow for shareholders desiring to submit their votes now to do so. It is now 9:0:5 a. M, and I declare the polls to be closed.
I now would like to receive the preliminary report of the judges of election who have submitted their report to the Corporate Secretary, Mr. Will Jordan.
Mr. Rice, item 1, approval of the stock issuance proposal received the approval of majority of votes cast. Items not presented or voted on at today's meeting. The official vote count will be reported by the company on a Form 8 ks to be filed with the SEC.
Thank you. I hereby declare that the stock issuance proposal has been approved. And as chair of this meeting, I declare this special meeting of shareholders to be officially concluded. I want to thank our shareholders for their support as we continue on the path to becoming the operator of choice for all stakeholders. Thank you to everyone that joined us for today's meeting.
This concludes the meeting. You may now disconnect.