Business
INDEPENDENT PROXY ADVISOR GLASS LEWIS RECOMMENDS VOTING FOR TRANSAT'S 8 NOMINEES AND AGAINST DISSIDENT SHAREHOLDER PROPOSALS
Transat A.T. Inc. ("Transat") today announced that independent proxy advisory firm Glass Lewis has recommended that shareholders vote the BLUE proxy FOR all of Transat's eight (8) director nominees at the upcoming Annual General and Special Meeting of Shareholders scheduled to be held on March 10, 2026, at 9:00 a.m. (Montréal time). Glass Lewis has also recommended that shareholders vote in line with the Board's recommendations on all other items of business being put forward, including FOR Tran
About this update from Transat A.t. Inc.
[{"type":"text","content":"MONTRÉAL, Feb. 27, 2026 /CNW/ - Transat A.T. Inc. ("Transat") today announced that independent proxy advisory firm Glass Lewis has recommended that shareholders vote the BLUE proxy FOR all of Transat's eight (8) director nominees at the upcoming Annual General and Special Meeting of Shareholders scheduled to be held on March 10, 2026, at 9:00 a.m. (Montréal time). Glass Lewis has also recommended that shareholders vote in line with the Board's recommendations on all other items of business being put forward, including FOR Transat's amendment to its articles of incorporation to provide for a minimum of eight (8) and maximum of 15 directors and AGAINST or WITHHOLD from all dissident shareholder proposals being put forward by Financière Outremont Inc.","length":795,"tagName":"p"},{"type":"text","content":"Glass Lewis' recommendation follows a detailed review of Transat's financial performance, capital structure, governance profile and the competing proposals before shareholders and concluded based on Transat's operational complexity and ongoing positive recovery that, "On balance, we conclude that shareholders would be better served by supporting the Management Nominees and voting against the Dissident's shareholder proposals at this time."","length":469,"tagName":"p"},{"type":"text","content":"Glass Lewis also stated that, "While the Dissident Nominees bring experience in corporate leadership, capital markets, and consumer analytics, none appears to fill a demonstrable aviation-specific skill gap not already represented on the current slate."","length":263,"tagName":"p"},{"type":"text","content":"In conclusion, Glass Lewis recommended shareholders vote AGAINST Proposal 6 to fix the Board size at six (6) and WITHHOLD from Proposals 7 to 9, which seek to elect the Dissident Nominees.","length":193,"tagName":"p"},{"type":"text","content":"Susan Kudzman, Chair of the Board, said: "We are pleased that Glass Lewis has independently validated the strength of our recovery trajectory, the material improvement in our capital structure and the depth of expertise represented on our new Board. Transat's disciplined execution and continuity of leadership are the best path forward for shareholders at this important stage of our recovery."","length":409,"t...