Incumbent Directors of Ciscom Win Shareholder Vote by Voting Overwhelmingly for Themselves, Persist in Refusing to Engage With Approximately 40% of the Ciscom Shareholder Base
TORONTO, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Six days after the recent annual general and special meeting (the “Meeting”) of Ciscom (“Ciscom” or, the “Company”) (CSE: CISC), (OTCQB: CISCF), the incumbent board of directors of Ciscom (the “Incumbent Board”) finally woke up to their securities law obligations as a reporting issuer in Canada and publicly reported the results of the Meeting.
- Approximately four out of five of the shares tendered in favour of the Incumbent Board belonged to the incumbent directors themselves.
- For any ordinary board of directors of a public company, losing the support of almost half of your shareholder base would constitute a crisis and immediately precipitate steps towards reconciliation.
- “When was the last time you have seen an incumbent board of directors celebrated losing the support of almost half of their shareholder base?
- The Concerned Shareholders convey this simple message to Ciscom shareholders who are sick and tired of the arrogance and mismanagement of the Incumbent Board: “Stay tuned.”