TORONTO, Oct. 28, 2020 /CNW/ – Certain shareholders (the “Concerned Shareholders“) of Media Central Corporation Inc. (“Media Central” or the “Corporation“) requisitioned a meeting (the “Meeting“) of holders of common shares in the capital of the Corporation further to a requisition (the “Requisition“) submitted to the board of directors (the “Board“) of the Corporation on October 15, 2020. The Concerned Shareholders wish to affirm their position and reiterate their call for the Board to act in the best interests of the Corporation and its shareholders by holding the Meeting without delay.
The purpose of the Requisition is to change the Board of the Corporation. Specifically, the Concerned Shareholders are seeking to elect David Daniels, Angelo Grossi, Massimo Giovannetti and Emmanuel Manos Pavlakis to the Board.
Although the Requisition was submitted over two weeks ago, the Board has yet to respond. The non-responsiveness of the Board, while resources continue to be needlessly expended, is alarming. The Board’s deliberate delays are inexcusable, and highlight the Board’s continued failure to act in the best interests of the Corporation and its shareholders.
Immediate action is critical. While the Board is creating unproductive and unnecessary obstacles and delays, the shareholders are suffering the consequences. Other shareholders of the Corporation have reached out to the Concerned Shareholders to express their deep disappointment with the Board’s demonstrated underperformance and obstruction.
The Concerned Shareholders once again urge the Board to convene the Meeting as soon as possible, with a view to ensuring the Corporation’s continued success. Should the Board seek to frustrate or protract the Meeting process in any way, the Concerned Shareholders intend to pursue all legal avenues available to them.
A copy of this press release is being filed on Media Central’s SEDAR profile on www.sedar.com.
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