The agent’s advisor supports the activist to reshape the air plate forward

An independent independent consultant company that supports the active investor Anura invitation to shareholders To vote against three members of the Air Board of Directors at the next annual meeting of the company.

The Corporate shareholder company (ISS) recommendedNasdak: FWRD) The shareholders refuse to re -election the Chairman of the Board, George Mayiz, and managers, Javier Polit and Lori Taker, according to a statement from the Anura Holdings Group.

Anora blames the trio to oversee a controversial merger with omni charging logistics. This deal has been spoiled publicly as it was Organized through a series of transactions To circumvent the vote from the shareholders. He also left forward with a public budget loaded with debt (5 times a debt lever at the end of the first quarter) and waived 38 % of the shares and with voting for supporters of private stocks in OMNI.

FWRD shares decreased after the announcement of the August 2023 deal and 85 % has decreased since then.

The company links the pressure of shareholders earlier this year, Approval of a strategic review of its optionsWhich is likely to include Selling the company to private stocks. Anura has since accused the “slow walking” of the review process, saying that she had implemented agreements other than disclosure only with the parties concerned.

“In light of the urgency of a good strategy review process, as well as the failure of the destroyed OMNI governance, there is a case of change at the level of the council,” ISS stated in its report, according to ANCora’s statement. “The shareholders enjoy all the right to concern about the possibility of a positive result, given the council’s record of decision -making M&A and ignoring the absolute council for investors in the past.”

A 50.1 % vote is required to re -elect the three members of the Board of Directors. The election results will be confirmed at the annual meeting on June 11.

The company asks the shareholders To agree to re -establishment from Tennessee to DelawareWhich you say it contains a more suitable legal scene for companies and is easy to sell the company. But ANCora claimed that the move was a late solution to the company’s changing position on the Tennesse M & A Law, which prevented it from engaging with a possible buyer and thus maintaining the current makeup of the council.

On Friday, Forward noticed on Friday with the Securities and Stock Exchange Committee that it “takes into account the shareholders’ notes” because it explores all the potential options to increase the value to the maximum. She also said she started talks with “parties interested in participating in the process, which is supposed to include potential buyers.