https://www.smsrequisition.com/open-letters/egmagmLetter to CDI...

https://www.smsrequisition.com/open-letters/egmagm


Letter to CDI Holders regarding the EGM & AGM[11175].pdf

As the EGM and AGM approach please keep an eye on your mailboxes as wewill be sending out our voting recommendations for both meetings. We also planto publish more information on the website in the coming days and weeks. Unlikeprevious emails, we are including both Bryant Mclarty and Ross Love becausethere are important issues that both should publicly clarify as we enter themeetings.

1. Mr. Mclarty and the company must go on the record to state that he is indeed not stepping off the Board on 15 November and is, instead, choosing to avoid direct accountability through the democratic process. There has been much confusion surrounding the omission of Mr. Mclarty’s name on the AGM ballot, and CDI holders have a right to know the truth as they determine how they plan to vote in the EGM.
2. We ask that Mr. Love commit to restructuring his “incentive” compensation package so that it aligns with the interests of the company and CDI holders to actually build long-term shareholder value. An option award with de minimis time-based vesting requirements and minimal clawbacks is not appropriate for the lead executive of the company

These are only two of the major issues we see with the currentproposals, and we are happy to discuss in more detail with any CDI holder inthe coming days and weeks before voting closes on 13 November.