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Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Kolibri Global Energy Inc.'s Shareholders Vote Against the Share Limit Resolution Proposed by TFG Asset Management UK LLP
Your vote is important no matter how many Kolibri shares you hold. Kolibri’s b...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Kolibri Global Energy Inc.’s Shareholders Vote Against the Share Limit Resolution Proposed by TFG Asset Management UK LLP\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwmarginl1 { margin-left: 30px }\n.bwuline { text-decoration: underline }\n \n\n\n\n\n\n Your vote is important no matter how many\n \n\n Kolibri shares you hold.\n \n\n\n\n Kolibri’s board of directors carefully reviewed the Share Limit Resolution and determined that its adoption would be detrimental to shareholders and not in the best interests of the Company.\n \n\n\n\n Management and the Board unanimously recommend that shareholders vote AGAINST the Proposed Resolution.\n \n\n\n\n For assistance with voting, please contact Barbara Fox by phone at 1-805-484-3613 ext. 231, or by email at\n \n [email protected]\n \n\n .\n \n\n\n\n\n\n Kolibri Global Energy Inc.\n \n (the\n \n “Company”\n \n or\n \n “Kolibri”\n \n ) (TSX: KEI, NASDAQ: KGEI)\n \n\n announces\n \n\n that the two leading independent proxy advisory firms, Institutional Shareholder Services Inc. (\"\n \n ISS\n \n \") and Glass Lewis & Co. LLC (\"\n \n Glass Lewis\n \n \") have each recommended that Company’s shareholders vote AGAINST the resolution to alter the Notice of Articles of the Company to cap the number of common shares that the Company is authorized to issue at 37,367,894 (the “\n \n Share Limit Proposal\n \n ”) at the Company’s special general meeting of shareholders scheduled for November 25, 2025 (the “\n \n Meeting\n \n ”). The resolution was proposed by a shareholder of the Company, TFG Asset Management UK LLP (“TFG”), who also requisitioned the Meeting.\n \n\n\n ISS and Glass Lewis Recommendations\n \n\n\n In making its recommendation that shareholders vote \"\n \n AGAINST\n \n \" the Share Limit Proposal, ISS noted that:\n \n\n\n “As the board has indicated, the Share Limit Proposal could reduce strategic optionality, increase costs\n \n ,\n \n and impair the company's ability to implement its shareholder-approved equity compensation plans. The board has correctly noted that several stock exchange policies a...