Sylogist Announces Addition of Experienced SaaS Executive to its Board of Directors and Annual General & Special Meeting Results
June 12 2024 - 6:30PM
Sylogist Ltd. (TSX: SYZ) (“Sylogist” or the
“Company”), a leading public sector SaaS company, is pleased to
announce that each of the matters presented for approval at the
Annual General and Special Meeting of Shareholders held on June 12,
2024 (the “Meeting”) has been fully authorized and approved.
Shareholders holding a total of 14,055,800 common shares,
representing 60.06% of the common shares issued and outstanding,
were represented in person or by proxy at the Meeting.
Sylogist is also pleased to announce that Mr.
Aziz Benmalek has been elected at the Meeting as a new director.
Mr. Benmalek is an accomplished executive with extensive worldwide
experience in the software industry. He has over 25 years’
experience in building and scaling businesses and leading in high
performing global organizations, across cloud and SaaS. He has
broad experience in leading multiple customer segments and
route-to-market across mature and emerging markets. His experience
spans industry leading software companies including Microsoft,
Splunk and Sage. He holds a Master of Engineering from Ecole
Centrale Paris and an MBA from European Business School (ESCP).
“I am honoured to be joining Sylogist as a board
member,” said Mr. Benmalek. “I was drawn to the opportunity given
my alignment to their mission and strategic positioning. I am
excited to leverage my business and GTM expertise to contribute to
their journey and to build upon Sylogist’s success.”
Sylogist and its board of directors would like
to thank departing directors Craig O’Neill and Ian McKinnon.
Messrs. O’Neill and McKinnon did not put themselves forward for
re-election as directors of the Company, and Sylogist thanks them
for their numerous contributions to the Company throughout their
tenure as directors.
A brief description of the matters voted upon
and the outcome of the votes is set forth below.
Fixing the Number of Directors to be
Elected
The ordinary resolution to approve fixing the
number of directors to be elected at the Meeting at seven (7) was
approved at the Meeting as follows:
Votes For |
% |
Votes Against |
% |
13,787,227 |
98.09% |
268,572 |
1.91% |
Election of Directors
All of the nominees proposed as directors of the
Company were duly elected as directors of the Company with votes
cast by the shareholders present in person or represented by proxy
at the Meeting as follows:
|
Outcome of the Vote |
Votes For |
% |
Withheld |
% |
William C. Wood |
Elected |
12,906,467 |
98.68% |
172,098 |
1.32% |
Barry D.A. Foster |
Elected |
12,636,635 |
96.62% |
441,930 |
3.38% |
Taylor Gray |
Elected |
13,014,483 |
99.51% |
64,082 |
0.49% |
Errol Olsen |
Elected |
12,980,662 |
99.25% |
97,903 |
0.75% |
Andrea Ward |
Elected |
13,074,379 |
99.97% |
4,186 |
0.03% |
Tracy Edkins |
Elected |
13,072,961 |
99.96% |
5,604 |
0.04% |
Aziz Benmalek |
Elected |
12,979,626 |
99.24% |
98,939 |
0.76% |
Appointment of Auditor
An ordinary resolution to approve the
appointment of KPMG LLP, Chartered Professional Accountants, as the
auditors of the Company, was approved at the Meeting as
follows:
Votes For |
% |
Votes Withheld/Abstained |
% |
14,049,296 |
99.95% |
6,504 |
0.05% |
Approval of Unallocated Stock Options
An ordinary resolution to approve all
unallocated stock options issuable pursuant to the Company’s stock
option plan was approved at the Meeting as follows:
Votes For |
% |
Votes Against |
% |
12,841,446 |
98.19% |
237,119 |
1.81% |
About Sylogist
Sylogist provides mission-critical SaaS
solutions to over 2,000 public sector customers globally across the
government, nonprofit, and education verticals. The Company’s stock
is traded on the Toronto Stock Exchange under the symbol SYZ.
Information about Sylogist, inclusive of full financial statements
together with Management’s Discussion and Analysis, can be found at
www.sedarplus.ca or at www.sylogist.com.
Forward-looking Statements
Certain statements in
this news release may be forward-looking statements within the
meaning of applicable securities laws and regulations. These
statements typically use words such as expect, foresee, believe,
estimate, project, anticipate, plan, may, should, could and would,
or the negative of these terms, variations thereof or similar
terminology. Forward-looking information in this news release
includes statements made, if any, with respect to building on
Sylogist’s or success. By their very nature, forward-looking
statements are based on assumptions and involve inherent risks and
uncertainties, both general and specific in nature. It is therefore
possible that the beliefs and plans and other forward-looking
expectations expressed herein will not be achieved or will prove
inaccurate. Although Sylogist believes that the expectations
reflected in these forward-looking statements are reasonable, it
provides no assurance that these expectations will prove to have
been correct. Forward-looking information involves risks,
uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information, including its inability to attract key employees or
enlist customer support, its inability to develop innovative
technology, its inability to find opportunities to deploy free cash
flow, impacts of public health crises, and economic turmoil.
Additional information regarding some of these risks, uncertainties
and other factors may be found in the Company’s Annual Information
Form for year ended December 31, 2023, and in the Management’s
Discussion and Analysis for the quarter ended March 31, 2024 and
the year ended December 31, 2023, and other documents available on
the Company’s profile at www.sedarplus.ca. Material assumptions and
factors that could cause actual results to differ materially from
such forward-looking information include Sylogist’s ability to
attract and retain employees and customers and to realize on its
investments, the ability to expand technology partner and customer
relationships and the acceleration of organic and inorganic growth.
Although Sylogist believes that the material assumptions and
factors used in preparing the forward-looking information in this
news release are reasonable, undue reliance should not be placed on
such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur.
Sylogist disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
For further information
contact:
Sujeet Kini, Chief Financial OfficerSylogist
Ltd.
Jennifer Smith, Investor RelationsLodeRock
Advisors
(416) 491-8004ir@sylogist.com
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