Sylogist and PenderFund Capital Management Enter Into Nomination Agreement

CALGARY, Alberta, June 20, 2023 (GLOBE NEWSWIRE) -- Sylogist Ltd. (TSX:SYZ) (“Sylogist” or the “Company”), a leading public sector SaaS company, is pleased to announce that it and its largest shareholder, PenderFund Capital Management Ltd. (“PenderFund”), which is the beneficial owner of 3,268,377 common shares in the capital of the Corporation (the “Common Shares”), representing 13.67% of the issued and outstanding Common Shares, have entered into a nomination agreement (the “Nomination Agreement”) pursuant to which, and subject to certain conditions and the acceptability of any nominee to the TSX, the Corporation shall appoint one independent PenderFund nominee to the Board of Directors as an additional director as contemplated in section 106(4) of the ABCA on or prior to August 16, 2023; and thereafter, include one PenderFund nominee among the management recommended nominees for election to the Board of Directors at each shareholder meeting at which directors of the Corporation are elected. PenderFund has agreed to vote in favour of the appointment of all of the Corporation’s director nominees at the Corporation’s annual and special meeting of shareholders to be held on June 27, 2023 or any adjournment thereof.

Read more at globenewswire.com