Gad Announces His Intention to Solicit Stockholder Support For His Slate of Five Uniquely Qualified Director Candidates

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Rhea-AI Summary

Hesham 'Sham' Gad, the largest stockholder of Paragon Technologies (OTC PINK:PGNT) with approximately 28.4% ownership, has announced his intention to solicit proxies and consents for his proposed slate of five director candidates for election to the Company's Board of Directors.

The announcement, made on March 26, 2025, follows his previous press release from March 18, 2025, which detailed information about the director candidates and expressed concerns regarding the Board's entrenchment actions and wasteful spending. Gad emphasized his commitment to working towards securing a bright future for Paragon for the benefit of its stockholders.

Positive

Largest shareholder (28.4% ownership) actively engaging in corporate governance
Potential for board refresh with five new director candidates

Negative

Ongoing corporate governance disputes between major shareholder and current board
Allegations of wasteful spending by current board
Signs of board entrenchment issues

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03/26/2025 - 08:05 PM EDT

Reiterates His Commitment to Working to Secure a Bright Future for Paragon

NEW YORK, NY / ACCESS Newswire / March 26, 2025 / Hesham "Sham" Gad, the largest stockholder of Paragon Technologies, Inc. (OTC PINK:PGNT) ("Paragon" or the "Company"), owning approximately 28.4% of the Company's outstanding shares, today announced that he intends to solicit proxies and/or consents in favor of his proposed slate of five uniquely qualified director candidates for election to the Company's Board of Directors (the "Board"). Mr. Gad also reiterated his commitment to working tirelessly to secure a bright future for Paragon for the benefit of its true owners, its stockholders.

For additional information on Mr. Gad's director candidates and his concerns about the remainder of the Board's continued entrenchment actions and wasteful spending, please refer to his press release issued on March 18, 2025, which can be found here: https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/gad-announces-nomination-of-five-uniquely-qualified-director-candida-1002053

CONTACT:
hmgad78@gmail.com

SOURCE: Sham Gad

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of Paragon Technologies (PGNT) stock does Hesham Gad own?

Hesham 'Sham' Gad owns approximately 28.4% of Paragon Technologies' outstanding shares, making him the largest stockholder.

How many director candidates is Gad proposing for PGNT's Board?

Gad is proposing a slate of five director candidates for election to Paragon Technologies' Board of Directors.

What are the main concerns raised by Gad regarding PGNT's current Board?

Gad expressed concerns about the Board's continued entrenchment actions and wasteful spending.

When did Gad announce his intention to solicit proxies for PGNT board election?

Gad announced his intention to solicit proxies on March 26, 2025.

Gad Announces His Intention to Solicit Stockholder Support For His Slate of Five Uniquely Qualified Director Candidates