JFK didn't want to thank you prematurely but now I thank you because today's news pretty much confirms a not too distant future buyout,although it don't state this all you gotta do is read between the lines. :)
SITO Mobile Confirms Receipt of Two Purported Notices of Director Nominations
JERSEY CITY, N.J., April 07, 2017 (GLOBE NEWSWIRE) -- SITO Mobile Ltd. (NASDAQ:SITO), a leading mobile engagement platform, today confirmed that it has received two purported notices of nominations from stockholders seeking to propose candidates for election to the five-member SITO Board of Directors at SITO’s 2017 Annual Meeting of Stockholders.
TAR Holdings LLC, an entity for which Karen Singer serves as the sole member, has indicated in its purported notice of nomination that it is seeking to nominate the following three director candidates to SITO’s Board of Directors: Steven G. Singer, Wayne Barr, Jr. and Richard Ramlall. Stephen D. Baksa has indicated in his purported notice of nomination that he is seeking to nominate the following five director candidates to SITO’s Board of Directors: Michael Durden, Itzhak Fisher, Thomas J. Pallack, Matthew Stecker and Thomas Thekkethala. Mr. Baksa is a former member of the SITO Board of Directors having served on the SITO Board from November 2011 to September 2014.
SITO, in consultation with its advisors, intends to review the purported notices of nominations that were submitted today to assess whether each purported notice of nomination complies with SITO’s Amended and Restated Bylaws and, accordingly, at this point, SITO is unable to confirm that either purported notice of nominations, as submitted, is in compliance with SITO’s Amended and Restated Bylaws.
SITO stockholders are not required to take any action at this time. The SITO Board will present its formal recommendation regarding director nominations in SITO’s definitive proxy statement to be filed with the Securities and Exchange Commission in connection with its 2017 Annual Meeting of Stockholders.
Morgan, Lewis & Bockius LLP and Sichenzia Ross Ference Kesner LLP are serving as legal advisors to SITO. Mackenzie Partners, Inc. is serving as SITO’s proxy solicitor.
