Sylogist Ltd. (TSX: SYZ) (“Sylogist” or the “Company”), a leading public sector SaaS company, today confirmed receipt of advance notice of nomination of directors (the “Notice”) from OneMove Capital Ltd. The Company is reviewing the Notice with its advisors.
Calgary, Alberta--(Newsfile Corp. - March 16, 2026) - Sylogist Ltd. (TSX: SYZ) ("Sylogist" or the "Company"), a leading public sector SaaS company, today announced the appointment of Andrew Shen to the Board of Directors and that Barry Foster will not be standing for re-election as part of the slate of directors to be put forth by the Company at the Meeting (as defined below). The Company also announced that, in light of these changes, it is postponing its previously scheduled Special Meeting and combining it with the Company's Annual Meeting of Shareholders (the "Meeting"). The Meeting will now be held on May 12, 2026.
OneMove’s Expanding Demands Have Forced an Expensive and Distracting Proxy Contest "Sylogist has a refreshed and engaged Board of Directors that has taken decisive action to position the Company for success," said Board Member and Special Committee Chair Tracy Edkins. “Tyler Proud previously asked to add one director nominee to the Board – proportional to OneMove’s investment in Sylogist – and the Company has consistently indicated its willingness to accept one nominee. Unfortunately, Mr. Proud has refused to take ‘yes’ for an answer. Instead, he has repeatedly moved the goal posts for settlement, and is now forcing an expensive and distracting proxy contest that demands majority control – almost 60% of the Sylogist Board – including a seat for Mr. Proud personally. That is almost six times OneMove’s ownership interest in the Company.”
The dissident purports to hold approximately 9.09% of the issued and outstanding common shares of the Company. The dissident’s requisition proposes that its four nominees – including Tyler Proud personally – be elected to replace three of the Company’s existing directors.
Effective as of January 28, 2026, Bill Wood has stepped down as President and Chief Executive Officer of Sylogist, and the Board of Directors has appointed Craig O’Neill as Interim President and Chief Executive Officer. Mr. Wood has also resigned from the Company’s Board of Directors. The Board thanks Mr. Wood for his leadership and contributions during a period of meaningful evolution for the Company.
Sylogist Ltd. announces proactive governance changes, including board succession planning & adoption of a shareholder rights plan for transparent growth.
Sylogist Ltd. forms a special committee of independent directors to address OneMove Capital’s requisition and reinforce its commitment to good governance.
