- DIRTT (DRT) has rejected 22NW’s settlement proposal related to its requisition of a shareholder meeting
- DIRTT’s board and special committee have since filed numerous complaints against the activist investor with the Alberta Securities Commission
- 22NW, DIRTT’s largest shareholder, believes these complaints are baseless and remains willing to seek an acceptable resolution without a requisition
- DIRTT uses proprietary 3D software to design, manufacture and install fully customized interior environments
- DIRTT Environmental Solutions (DRT) is down by 0.7 per cent trading at $2.85 per share
DIRTT (DRT) has rejected 22NW’s settlement proposal related to its requisition of a shareholder meeting.
DIRTT’s board offered no counter proposal or reasons for the rejection.
The board and its special committee have since filed a complaint against 22NW with the Alberta Securities Commission, which it has refuted.
On December 31, 22NW received further complaints to the Alberta Securities Commission, including DIRTT’s intention to ask the S.E.C. to investigate purported filing deficiencies by 22NW.
The activist investor believes these complaints are baseless and remains willing to seek an acceptable resolution without a requisition. It is preparing a proxy statement pursuant to the U.S. Securities Exchange Act of 1934 with updates on SEDAR forthcoming.
22NW is DIRTT’s largest shareholder with almost 19 per cent of outstanding shares.
DIRTT uses proprietary 3D software to design, manufacture and install fully customized interior environments.
DIRTT Environmental Solutions (DRT) is down by 0.7 per cent trading at $2.85 per share as of 11:10 am EST.