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Leading Proxy Advisory Firm Recommends GOLD Form of Proxy Supporting Concerned Shareholders of Aberdeen International Inc. to REMOVE Stan Bharti
ISS Recommends Shareholders Vote Using the Concerned Shareholders GOLD Form of Proxy ...
About this update from Aberdeen International Inc.
[{"type":"text","content":"\n\n\nISS Recommends Shareholders Vote Using the Concerned Shareholders GOLD Form of Proxy \nISS Recommends Shareholders Vote FOR the REMOVAL of Stan Bharti \nISS States Ryan J. Morris Appears Most Suited To Carry Out Changes And Help Add Truly Independent Oversight To The Board \nISS Highlights Concerns With Related Party Loan Write Offs And Internal Financial Controls \nISS Shares Concerns Regarding Management's Entrenching Subscription of Private Placement\n\n\nTORONTO, Jan. 19, 2015 /CNW/ - Today, funds controlled by Meson Capital Partners LLC (\"Meson Capital\") and Nightscape Capital (UK) LLP (\"Nightscape Capital\", collectively, the \"Concerned Shareholders\") holding  shares representing approximately 9% of the issued and outstanding shares of Aberdeen International Inc. (TSX:AAB) (\"Aberdeen\" or the \"Company\") announce that an independent proxy advisory research firm, Institutional Shareholder Services (\"ISS\"), has recommended that Aberdeen Shareholders vote FOR Concerned Shareholders nominee Ryan J. Morris by removing management nominee Stan Bharti.  ISS also recommend shareholders vote utilizing the Concerned Shareholders GOLD form of proxy and NOT vote on management's proxy.\n\nISS is widely recognized as a leading independent proxy voting and corporate governance advisory firm.  Its analyses and recommendations are relied upon by many major institutional investment firms, mutual funds and fiduciaries throughout North America.\n\nIn its January 16th report, ISS found that: \n\n\"By replacing Bharti, who exerts significant Forbes & Manhattan influence on the board and bringing Morris on the board will help improve the overall governance structure and true independence level of the board, with an expectation to provide more transparency and strengthen the independent oversight over related party transactions/loans, effectiveness of cost cutting, etc., which should ultimately benefit the overall shareholder return over the long-term.\"\n\nISS went further in expressing their support, stating: \n\n\"Dissident nominee Ryan J. Morris appears most suited to carry out the changes and help add truly independent oversight to the board. He is the leader of the dissident group and has over 5% of shareholding in the company which makes his interest aligned with those shareholders who are not Forbes &...