Business
Concerned Shareholders of Ag Growth International Seek Appointment of New Directors to Oversee a Sale Process of the Company
Ag Growth Should be Responsive to Widespread Shareholder Demands and Immediately Commence a Strat...
About this update from Ag Growth International Inc.
[{"type":"text","content":"Concerned Shareholders of Ag Growth International Seek Appointment of New Directors to Oversee a Sale Process of the Company\nAg Growth Should be Responsive to Widespread Shareholder Demands and Immediately Commence a Strategic Review and Sales Process Tim Close, Transformative Former-CEO of Ag Growth, and Neil Desai, an Experienced Corporate Director, are Prepared to Join the Board, with Mr. Close Providing Interim Leadership throughout a Sales Process Abrupt Departure of Longtime CFO Highlights Urgent Need for Action ST. HELIER, Jersey, April 01, 2026 (GLOBE NEWSWIRE) -- Tim Close and Plantro Ltd. (“Plantro”), (together the “Concerned Shareholders”) today call upon the board of directors (the “Board”) of Ag Growth International Inc. (TSX: AFN) (“AGI” or the “Company”) to effect immediate Board changes and appoint two highly-qualified individuals who will enjoy the confidence of shareholders, namely: Tim Close and Neil Desai (the “Proposed Directors”). Collectively, the Concerned Shareholders own nearly 10% of the outstanding shares of the Company. The Concerned Shareholders also call upon the Board to schedule its upcoming 2026 annual meeting (the “Annual Meeting”) without delay, and include the Proposed Directors as nominees for election as directors. The Concerned Shareholders stand willing to engage with the Board in good faith to restore the confidence of shareholders by immediately appointing the Proposed Directors who will provide effective leadership and oversight of a strategic review and sales process to sell the entire Company. AGI’s share price performance over the past several years has materially lagged relevant industrial peers and broader equity markets, destroying substantial long-term value. Public market investors have demonstrated considerable patience through multiple cycles of restructuring plans, margin improvement initiatives and strategic repositioning efforts. That patience is now largely depleted. The Company has also continued to struggle with investor communication and transparency. This was acutely reflected in the events surrounding the cease-trade order imposed upon AGI. The Company’s Q4/2025 earnings release then appeared to sharply diverge from investor and sell-side analyst expe...