Replies to post #548 on SITO Mobile Ltd (STTO)

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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.

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$SITO takeover now FACT

SITO Mobile Announces Changes to Board and Management Team

Shareholders Resoundingly Support the Proposals Made in the Consent Solicitation Statement

Brent Rosenthal Remains on Board and will be joined by Five New Independent Directors

Thomas J. Pallack Appointed as Interim Chief Executive Officer

JERSEY CITY, N.J., June 05, 2017 (GLOBE NEWSWIRE) -- SITO Mobile, Ltd. (NASDAQ:SITO), a leading mobile engagement platform (“SITO” or the “Company”), today announced that the independent inspector of elections, which was appointed by the Company in connection with the previously-announced consent solicitation by Stephen D. Baksa, Thomas M. Candelaria and other participants, has certified written consents representing more than 57% of the Company’s outstanding shares to remove five of the six members of the Company’s Board of Directors, elect five new directors to the Company’s Board of Directors and amend and restate the Company’s Bylaws. Accordingly, effective immediately, Betsy Bernard, Richard O’Connell, Jonathan E. Sandelman, Lowell W. Robinson and Joseph Beatty have been removed from the Company’s Board. Brent Rosenthal, who will remain on the Board, will be joined on the Board by new directors Michael Durden, Itzhak Fisher, Thomas J. Pallack, Matthew Stecker and Thomas Thekkethala. The new directors will serve on the Board until the next annual meeting of shareholders, which, given their recent appointment, has been postponed until 2018.

In addition, Mr. Richard O’Connell and Mr. Lawrence Firestone, the Company’s Interim Chief Executive Officer and Interim Chief Financial Officer, respectively, will no longer serve as officers of the Company. They will be replaced immediately by Thomas J. Pallack, who will serve as Interim Chief Executive Officer, and Mark Del Priore, who will serve as Interim Chief Financial Officer. Mr. Pallack is the Co-Founder, Chief Executive Officer and Head of Sales of SBV Solutions?--Strategic Business Velocity, a software sales company. He brings to our Company more than 30 years of sales, operational, financial and business development experience with global technology software companies such as Oracle, Ariba, Consilium and NCA. The Board intends to evaluate candidates, including the interim executives, to fill the Chief Executive Officer and Chief Financial Officer roles on a permanent basis.

Speaking on behalf of SITO’s newly elected Board, Brent Rosenthal added, “I am looking forward to working with SITO’s new Board members. My fellow Board members and I share a common goal for SITO Mobile – to enhance value for all of the Company’s stakeholders, including its shareholders, employees and customers, by focusing on excellence throughout the organization. We also welcome Messrs. Pallack and Del Priore to SITO Mobile. We anticipate that their extensive experience in the mobile and marketing industries and deep connections to the industry will result in substantial revenue growth, improved product offerings and increased shareholder value. The new Board is prepared and excited to immediately begin working alongside SITO’s management team to put the Company on track for long-term value creation for all shareholders. The new Board wishes the departing directors and Messrs. O’Connell and Firestone well, and we thank them and their advisors for ensuring a smooth and seamless transition process that will allow us to immediately focus on the priorities at hand.”

Speaking on the Company’s potential, Thomas J. Pallack, the interim Chief Executive Officer said, “I am excited by the technology platform that SITO has developed. By focusing on larger customers and developing our data product offerings, I believe there is an opportunity to quickly grow SITO Mobile to be one of the premier companies in the Mobile Marketing space. We will be announcing several additions to the team in the coming weeks. Together, we plan to substantially grow shareholder value and realize this Company’s full potential.”

“I look forward to working with Tom and the board to improve SITO’s shareholder relations after this contentious period,” said SITO’s Interim Chief Financial Officer, Mark Del Priore. “I intend to establish the controls and financial rigor needed throughout the organization to protect shareholder interests and increase the value of their investment in our Company.”

Biographical information for the new members of the Company’s Board of Directors will be provided in a Current Report on Form 8-K, to be filed by the Company with the Securities and Exchange Commission.

About SITO Mobile Ltd.
SITO Mobile provides a mobile engagement platform that enables brands to increase awareness, loyalty, and ultimately sales. For more information, visit www.sitomobile.com.