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Payfirma Shareholders Vote to Oust Roger Hardy, Lance Tracey and Marc Levy from Board - Company Plans Liquidity Transaction
Friday, October 27, 2017Company Profile | Follow Company
Vancouver, BC, October 27, 2017--(T-Net)--Payfirma Corporation announced today that at the special meeting of shareholders held on Tuesday, October 24th, 2017, shareholders voted to remove Roger Hardy, Marc Levy, and Lance Tracey as directors of the Company and to elect Paul Pathak as an independent director of Payfirma.
Payfirma's board has reportedly been split between two opposing camps of directors since the company and its CEO began looking at a possible reverse takeover "liquidity transaction" this past summer.
The two sides have engaged in a rather public war of words and a couple of legal actions leading up to this weeks board vote, and it looks like shareholders have sided with the prevailing directors.
Shareholders voted to retain Chairman John Rante, founder of BluePay, being acquired by First Data for US$760M, co-founder & CEO Michael Gokturk, Ryan Holmes, founder & CEO of HootSuite, and add Paul Pathak, founding partner at ChitzPathak, LLP.
The Payfirma Board of Directors would like to thank all shareholders who participated in the meeting process.
The Board is committed to constructively working together in order to finalize the liquidity pathway transaction and presenting it to shareholders in a timely fashion.
About Payfirma
Payfirma is an award-winning payments company providing powerful payments technology for credit unions, banks, and other financial institutions across North America from one single source. We help our financial institution partners with innovative payments technology, increased revenue, and dedicated support that our partners and their members can count on. Visit us at www.payfirma.com for more information.
Contact:
Kingsdale Advisors Contact, Ian Robertson, Executive Vice President, Communication Strategy, Kingsdale Advisors, Direct: 416-867-2333, 647-621-2646, irobertson@kingsdaleadvisors.com