Business
Over 20% of Independent Shareholders Are Aligning Behind Change at Pivotree
Shen Capital Partners Inc. ("SCP"), one of the largest independent shareholders of Pivotree Inc. (TSXV: PVT) ("Pivotree" or the "Company") with approximately 9.1% of the outstanding common shares, today said that support among Pivotree's independent shareholders for its two shareholder proposals is growing ahead of the Company's Annual General and Special Meeting on June 25, 2026 (the "Meeting"), and urges fellow shareholders to vote FOR both proposals: the election of Francis Shen to the Board,
About this update from Pivotree, Inc.
TORONTO, June 17, 2026 /CNW/ - Shen Capital Partners Inc. ("SCP"), one of the largest independent shareholders of Pivotree Inc. (TSXV: PVT) ("Pivotree" or the "Company") with approximately 9.1% of the outstanding common shares, today said that support among Pivotree's independent shareholders for its two shareholder proposals is growing ahead of the Company's Annual General and Special Meeting on June 25, 2026 (the "Meeting"), and urges fellow shareholders to vote FOR both proposals: the election of Francis Shen to the Board, and a non-binding advisory resolution calling for a formal strategic review. The full letter to shareholders and supporting presentation are available at www.pivotreeinvestor.com. Other shareholders are aligned for change In its circular, the Board characterizes Shen Capital as "acting for itself and not all shareholders" and frames the strategic-review proposal as serving "only one purpose, namely, to create liquidity for Shen Capital." SCP disagrees and, based on its engagement to date, so do other independent shareholders. SCP believes over 20% of independent shareholders (including SCP) support the proposals and intend to vote in their favour. Credible buyers are interested now Since announcing its proposals, SCP has received numerous inbound expressions of interest in the Company. In SCP's view, there is a wide range of credible buyers of this business today, and the Board and management have a fiduciary responsibility to consider the Company's strategic options now, not after further value erodes. A formal, advisor-led strategic review is the appropriate way to evaluate that interest objectively, on behalf of all shareholders. Because SCP is not acting on behalf of the Company, it is unable to facilitate any such discussions directly, underscoring the importance of a Board-led strategic review process. Can today's leadership deliver the AI transformation? Pivotree has told shareholders it intends to lead an AI-driven transformation of its business. The question is not the ambition — it is whether a company of Pivotree's scale can fund and deliver that transformation organically. The majority of the slate standing for election has led Pivotree for over a decade, and over that period the business has grown primarily by acquisition rather than...