INEO Responds to Requisition and Sets Date for Special Meeting of Shareholders
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) has announced a special shareholders meeting scheduled for August 8, 2025, following a requisition from COENDA Investments Holding Corp, which owns 49% of INEO shares. The requisition, delivered on April 8, 2025, comes after COENDA completed its investment on January 25, 2025.
The meeting will address several matters, including: the approval process of Q2 interim financial reports, the handling of director Eugene Syho's resignation, a proposal to remove current directors and officers (except Kerem Akbas), election of new directors, and appointment of an inspector to investigate company management.
INEO's special committee, formed to address these matters, notes that the interim financial reports were approved by board majority, and Syho's resignation was not considered material. The company's Chair, Greg Watkin, expressed disappointment with COENDA's change in position shortly after acquiring control.
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) ha annunciato un'assemblea straordinaria degli azionisti prevista per l'8 agosto 2025, a seguito di una richiesta da parte di COENDA Investments Holding Corp, che detiene il 49% delle azioni di INEO. La richiesta, presentata l'8 aprile 2025, arriva dopo che COENDA ha completato il suo investimento il 25 gennaio 2025.
L'assemblea affronterà diverse questioni, tra cui: l'approvazione dei rapporti finanziari intermedi del secondo trimestre, la gestione delle dimissioni del direttore Eugene Syho, una proposta per rimuovere gli attuali amministratori e dirigenti (ad eccezione di Kerem Akbas), l'elezione di nuovi amministratori e la nomina di un ispettore per indagare sulla gestione aziendale.
Il comitato speciale di INEO, istituito per occuparsi di queste questioni, sottolinea che i rapporti finanziari intermedi sono stati approvati dalla maggioranza del consiglio e che le dimissioni di Syho non sono state considerate rilevanti. Il presidente della società, Greg Watkin, ha espresso delusione per il cambio di posizione di COENDA poco dopo aver acquisito il controllo.
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) ha anunciado una junta extraordinaria de accionistas programada para el 8 de agosto de 2025, tras una solicitud de COENDA Investments Holding Corp, que posee el 49% de las acciones de INEO. La solicitud, presentada el 8 de abril de 2025, se produce después de que COENDA completara su inversión el 25 de enero de 2025.
La reunión abordará varios temas, incluyendo: la aprobación de los informes financieros interinos del segundo trimestre, la gestión de la renuncia del director Eugene Syho, una propuesta para destituir a los actuales directores y oficiales (excepto Kerem Akbas), la elección de nuevos directores y el nombramiento de un inspector para investigar la gestión de la empresa.
El comité especial de INEO, creado para tratar estos asuntos, señala que los informes financieros interinos fueron aprobados por la mayoría del consejo y que la renuncia de Syho no se consideró material. El presidente de la compañía, Greg Watkin, expresó su decepción por el cambio de postura de COENDA poco después de adquirir el control.
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF)는 2025년 8월 8일로 예정된 특별 주주총회를 발표했습니다. 이는 INEO 주식의 49%를 보유한 COENDA Investments Holding Corp의 요청에 따른 것입니다. 이 요청은 2025년 4월 8일에 전달되었으며, COENDA가 2025년 1월 25일에 투자를 완료한 이후 이루어졌습니다.
총회에서는 2분기 중간 재무보고서 승인 절차, 이사 유진 시호(Eugene Syho)의 사임 처리, 현 이사 및 임원(커렘 악바스 제외) 해임 제안, 신규 이사 선출, 그리고 회사 경영 조사를 위한 감사관 임명 등 여러 사안을 다룰 예정입니다.
이 문제들을 다루기 위해 구성된 INEO 특별위원회는 중간 재무보고서가 이사회 과반수의 승인을 받았으며, 시호의 사임은 중요 사안으로 간주되지 않았다고 밝혔습니다. 회사 의장인 그렉 왓킨(Greg Watkin)은 COENDA가 경영권을 인수한 직후 입장을 바꾼 데 대해 실망감을 표명했습니다.
INEO Tech Corp (TSXV : INEO) (OTCQB : INEOF) a annoncé une assemblée générale extraordinaire des actionnaires prévue pour le 8 août 2025, suite à une requête de COENDA Investments Holding Corp, qui détient 49 % des actions d'INEO. La requête, déposée le 8 avril 2025, intervient après que COENDA ait finalisé son investissement le 25 janvier 2025.
La réunion traitera plusieurs sujets, notamment : le processus d'approbation des rapports financiers intermédiaires du deuxième trimestre, la gestion de la démission du directeur Eugene Syho, une proposition visant à révoquer les administrateurs et dirigeants actuels (à l'exception de Kerem Akbas), l'élection de nouveaux administrateurs, ainsi que la nomination d'un inspecteur chargé d'enquêter sur la gestion de l'entreprise.
Le comité spécial d'INEO, formé pour traiter ces questions, souligne que les rapports financiers intermédiaires ont été approuvés par la majorité du conseil d'administration et que la démission de Syho n'a pas été jugée significative. Le président de la société, Greg Watkin, a exprimé sa déception face au changement de position de COENDA peu après avoir pris le contrôle.
INEO Tech Corp (TSXV: INEO) (OTCQB: INEOF) hat eine außerordentliche Hauptversammlung der Aktionäre für den 8. August 2025 angekündigt, nachdem eine Anforderung von COENDA Investments Holding Corp eingegangen war, die 49 % der INEO-Aktien besitzt. Die Anforderung, die am 8. April 2025 übermittelt wurde, erfolgt nach dem Abschluss von COENDAs Investition am 25. Januar 2025.
Die Versammlung wird mehrere Themen behandeln, darunter: die Genehmigung der Zwischenfinanzberichte für das zweite Quartal, die Behandlung des Rücktritts des Direktors Eugene Syho, einen Vorschlag zur Abberufung der aktuellen Direktoren und Führungskräfte (außer Kerem Akbas), die Wahl neuer Direktoren sowie die Ernennung eines Prüfers zur Untersuchung der Unternehmensführung.
Der von INEO gebildete Sonderausschuss, der sich mit diesen Angelegenheiten befasst, stellt fest, dass die Zwischenfinanzberichte von der Mehrheit des Vorstands genehmigt wurden und Syhos Rücktritt als nicht wesentlich angesehen wird. Der Vorsitzende des Unternehmens, Greg Watkin, äußerte seine Enttäuschung über die Positionsänderung von COENDA kurz nach der Übernahme der Kontrolle.
- Board's willingness to hold special meeting demonstrates commitment to shareholder rights and corporate governance
- Major shareholder (49% ownership) seeking removal of current management and board members indicates significant corporate governance issues
- Potential conflict between management and major shareholder could impact company operations and strategy
- Shareholder dispute emerging just 30 days after major investment suggests unstable corporate leadership
Surrey, British Columbia--(Newsfile Corp. - April 28, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO") announces that it has called a special meeting of shareholders (the "Requisitioned Meeting") to consider the matters set out in the notice of requisition for a general meeting of shareholders (the "Requisition") that was delivered to the registered office of the Company on April 8, 2025.
The Requisition was made by COENDA Investments Holding Corp. ("Coenda"), a recently formed investment company controlled by Kerem Akbas. Coenda is the holder of approximately
Matters to be Discussed at the Requisitioned Meeting
The Requisition is sought to consider the following matters:
- to hear a report from the current Chief Executive Officer and Chief Financial Officer as to the reasons, if any, that the Q2 interim financial report and the Q2 interim MD&A (collectively, the "Interim Financial Reports") were filed prior to being approved by the Board of Directors of the Company (the "Board");
- to hear a report from the current Chairman of the Board as to the reasons, if any, that a material change report and press release were not immediately promulgated upon the resignation of Eugene Syho on January 15, 2025;
- to consider, and if thought fit, pass a special resolution, to remove all present directors and officers of the Company except for Kerem Akbas;
- to consider, and if thought fit, pass an ordinary resolution electing a new slate of directors to hold office until the next annual general meeting of the Company;
- to consider, and if thought fit, pass a special resolution to appoint an inspector to investigate the affairs and management of the Company and to provide recommendations to the Board to rectify any material regulatory or corporate governance deficiencies, if any; and
- to consider and discuss such other business as may arise from the debate of the foregoing proposed resolutions.
INEO's Response to the Requisition
INEO formed a special committee of the Board, consisting of all of the directors of INEO other than Kerem Akbas, to consider the Requisition and the allegations made therein. The special committee approved calling the Requisitioned Meeting despite flaws in the Requisition.
In response to certain of the issues raised by Coenda, Management advises that:
- The Interim Financial Reports were approved by the majority of the Board by consent resolution. Only Kerem Akbas failed to sign the consent resolution. A report on the process for approval of the Interim Financial Reports will be included in the Management Information Circular for the Requisitioned Meeting.
- The resignation of Mr. Syho, being one of six directors, was not considered material, and did not require the filing of a material change report. A report in regards to Mr. Syho's resignation will be included in the Management Information Circular for the Requisitioned Meeting.
Actions of Mr. Akbas Since the Requisition
Greg Watkin, Chair of INEO Tech Corp. commented; "I am disappointed with this turn of events. When Mr. Akbas invested in the Company he expressed his support for management, INEO's plans and direction. His change of position, which manifested itself little more than 30 days after he acquired his control position, is truly surprising. We have been unable to discern the reasons for his change of direction, nor has he articulated to the Board an alternative path to profitability for the Company. In the interests of reaching an accommodation with Mr. Akbas, we worked to craft a workable commercial relationship between companies that he controls and INEO." Mr. Watkin added; "It is critical that any commercial relationship, particularly when it is non arms-length, be in the best interests of all the shareholders of INEO. We look forward to addressing this issue at the appropriate time."
Meeting Date
INEO has set August 8, 2025 as the date for the Requisitioned Meeting. The record date for the Requisitioned Meeting will be July 3, 2025.
Shareholders will receive detailed information about the above and other matters by way of a Management Information Circular well in advance of the Requisitioned Meeting. Shareholders should read the circular carefully before reaching a decision with regard to their votes. In the meantime, there is no need for shareholders to take any action.
About INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF)
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., operates the INEO Media Network, a digital advertising and analytics solution for retailers. INEO's patented technology integrates and monetizes digital screens with theft detection sensor gates at the entrance of retail stores. The Company's cloud-based platform uses IoT (Internet of Things) and AI (Artificial Intelligence) technology to deliver customized digital advertising to each retail location based on the demographic mix of customer traffic at each location. The Company also deploys the INEO Welcoming Network technology through a SaaS-based solution to larger retail chains. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol "INEO" and on the OTCQB-Venture Market under the symbol "INEOF".
For more information please visit:
Websites: www.ineosolutionsinc.com
www.ineoretailmedia.com
LinkedIn: www.linkedin.com/company/ineosolutions
For further information: Kyle Hall, CEO, INEO Tech Corp., investor@ineosolutionsinc.com, (604) 244-1895.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249957
FAQ
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