Business
Second Independent Proxy Advisory Firm Recommends GOLD Form of Proxy Supporting Concerned Shareholders of Aberdeen International Inc. to REMOVE Stan Bharti
Glass Lewis, Like ISS, Recommends Shareholders Vote Using The Concerned Shareholders GOLD...
About this update from Aberdeen International Inc.
[{"type":"text","content":"\n\n\nGlass Lewis, Like ISS, Recommends Shareholders Vote Using The Concerned Shareholders GOLD Form Of Proxy. \nGlass Lewis Believes Ryan Morris Is Well Suited To Represent The Interests Of Outside Shareholders On The Board. \nGlass Lewis Joins ISS In Supporting The Removal Of Stan Bharti From Aberdeen International's Board. \nGlass Lewis States Stan Bharti Is Subject To A Significant Number Of Potential Conflicts Of Interest. \nGlass Lewis Expresses Substantial Concerns With The Company's November 2014 Private Placement. \nGlass Lewis Is Concerned By The Company's Past Compensation Practices, Including Excessive Executive Compensation And Discretionary Bonuses.\n\n\nTORONTO, Jan. 26, 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 now a second  independent proxy advisory research firm, Glass Lewis & Co. (\"GL\"), has recommended that Aberdeen Shareholders vote FOR Concerned Shareholders nominee Ryan J. Morris by removing management nominee Stan Bharti.  This recommendation by GL is further reinforcement of the Concerned Shareholders earlier press release announcing that Institutional Shareholder Services (\"ISS\") also recommended support for Concerned Shareholders nominee Ryan Morris and the removal of Stan Bharti utilizing the Concerned Shareholders GOLD form of proxy and NOT voting on management's proxy.\n\nGlass Lewis, like ISS and a number of shareholders, acknowledge and realize that for Aberdeen to move forward Stan Bharti must be replaced.  Glass Lewis, another widely recognized and leading independent proxy voting and corporate governance advisory firm concludes in its January 23rd report:\n\n\"…we believe Mr. Bharti, as executive chairman of both the Company and Forbes & Manhattan, is subject to a significant number of potential conflicts of interest.\" \n\n\"To this end, we believe the board could benefit from additional outside scrutiny and independent oversight and that appointing a Dissident director to the board would help to ensure the int...