Business
Meson Capital and Nightscape Capital Requisition Special Meeting to Reconstitute Board of Aberdeen International Inc.
TORONTO , Dec. 16, 2014 /CNW/ - Today, funds controlled by Meson Capital Partners LLC ("M...
About this update from Aberdeen International Inc.
[{"type":"text","content":"\n\nTORONTO, Dec. 16, 2014 /CNW/ - Today, funds controlled by Meson Capital Partners LLC (\"Meson Capital\") and Nightscape Capital (UK) LLP (\"Nightscape Capital\") that hold shares representing approximately 9% of the issued and outstanding shares of Aberdeen International Inc. (TSX: AAB) (\"Aberdeen\" or the \"Company\") announced that they have formally requisitioned a special meeting of shareholders to reconstitute the board of directors of Aberdeen.\n\nRyan Morris, President of Meson Capital, said that \"As we previously indicated on November 24th, we are fully committed to improving the governance of Aberdeen for the benefit of all shareholders.  Unfortunately, to date the Company has been unwilling to engage in any form of constructive dialogue with us and the Company's recent announcement of pending director changes merely shuffles the deck of Forbes & Manhattan closely affiliated directors.  Greater change is needed urgently.\"\n\nMr. Morris continued, \"While we certainly respect the prominence of certain Aberdeen board members, historically poor performance for shareholders speaks for itself.  We are nominating a slate of highly qualified and independent directors who intend to dramatically lower insider compensation while focusing on creating value for all shareholders.\"\n\nNickolas Stukas, Managing Partner of Nightscape Capital, said \"For some time we have encouraged Aberdeen's management to undertake shareholder friendly actions, which would narrow the gap between the Company's market value and the much higher value of the Company's underlying assets.  We have been disappointed with the Company's actions in this regard to date.  We believe appointing qualified and independent directors is an important first step in unlocking Aberdeen's underlying value.\"\n\nNominees include the following:\n\nKen Daraie is the CEO of Continental Industries Field Services, LLC, and Vice President of Mizzen Energy.  He has founded several E&P companies, and has bought and sold numerous up stream and mid-stream oil and gas assets in the US Rockies.\n\nAndrew Green is a Partner with Jackson Hole Group and led successful turnarounds while at A.T. Kearney including as CEO of Horizon Propane.\n\nRyan Morris is President of Meson Capital and as Chairman of InfuSystem Holdings has overseen its s...