Sylogist Announces Addition of Experienced SaaS Executive to its Board of Directors and Annual General & Special Meeting Results
Sylogist 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 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 experienced SaaS executive Mr. Aziz Benmalek has been elected at the Meeting as a new director.
Mr. Benmalek is an accomplished SaaS 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. 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 Officer, Sylogist Ltd.
