TORONTO, July 2, 2019 /CNW/ - Callidus Capital Corporation
(TSX: CBL) ("Callidus" or the "Company") today announced that all
of the nominee directors listed in the Company's management
information circular dated May 31,
2019, were elected as directors of the Company. The vote was
conducted at the Company's annual general and special meeting of
shareholders held on July 2, 2019
(the "Shareholders Meeting"). The results of the vote are set out
below:
|
Nominee
|
Votes
For
|
Votes
Withheld
|
Percentage
of Votes
For
|
Percentage of
Votes
Withheld
|
|
|
|
|
|
|
Newton
Glassman
|
50,353,478
|
149,455
|
99.70%
|
0.30%
|
|
|
|
|
|
|
Jim Riley
|
50,382,234
|
120,699
|
99.76%
|
0.24%
|
|
|
|
|
|
|
Tibor
Donath
|
50,374,275
|
128,658
|
99.75%
|
0.25%
|
|
|
|
|
|
|
David
Sutin
|
50,374,275
|
128,658
|
99.75%
|
0.25%
|
|
|
|
|
|
|
Bradley W.
Ashley
|
50,371,075
|
131,858
|
99.74%
|
0.26%
|
The Company also announced minority shareholder approval of an
agreement (the "Bluberi Agreement") entered with certain investment
funds managed by The Catalyst Capital Group Inc. (the "Catalyst
Funds") to sell the shares of Bluberi Gaming Canada Inc.
("Bluberi") owned by Callidus and to assign the debt owing by
Bluberi to Callidus and its subsidiary to the Catalyst Funds
(the "Bluberi Transaction"). The vote was conducted at
the Shareholders Meeting. The results of the vote of minority
shareholders are set out below:
|
Votes
For
|
Votes
Against
|
Percentage
of Votes
For
|
Percentage of
Votes Against
|
|
|
|
|
|
|
Bluberi
Transaction
|
8,613,789
|
79,828
|
99.08%
|
0.92%
|
It is anticipated that the Bluberi Transaction will be completed
prior to July 15, 2019.
Further information about the Bluberi Transaction is included in
the management information circular dated May 31, 2019 available on SEDAR at www.sedar.com.
The Bluberi Agreement is also available on SEDAR at
www.sedar.com.
Finally, Callidus announced today that Newton Glassman has asked the board of directors
of Callidus not to reappoint him as Chief Executive Officer at this
time for health reasons. Mr. Glassman has committed to
continue as a director and Chair of the Callidus Credit
Committee. It was previously announced on August 13, 2018 that Mr. Glassman was taking a
leave of absence from his role as Chief Executive Officer.
Mr. Glassman has been performing his duties as Managing
Partner of The Catalyst Capital Group Inc. during this time and
will continue to do so.
About Callidus Capital Corporation
Established in 2003, Callidus Capital Corporation is a Canadian
company that specializes in innovative and creative financing
solutions for companies that are unable to obtain adequate
financing from conventional lending institutions. Unlike
conventional lending institutions who demand a long list of
covenants and make credit decisions based on cash flow and
projections, Callidus credit facilities have few, if any, covenants
and are based on the value of the borrower's assets, its enterprise
value and borrowing needs. Further information is available on our
website, www.calliduscapital.ca
SOURCE Callidus Capital Corporation