Claranova announces that it has reached an agreement with its two Canadian minority shareholders, Michael Dadoun and Daniel Assouline, under which the latter agreed to withdraw today, without any compensation, the two separate legal proceedings (appeal and on merits) that were pending against the company.
This decision follows recent governance and management changes at Claranova, including the appointment of Michael Dadoun as a director and Daniel Assouline as a non-voting member of the Board of Directors, approved by Claranova shareholders at the Annual General Meeting of April 5, 2024. The Dadoun Family Trust and the companies 10422339 Canada Inc. and 6673279 Canada Inc., jointly holding 6.99% of Claranova’s share capital, instituted proceedings on October 13, 2023 against Claranova and the members of the officers of the General Meeting before the Nanterre Commercial Court, seeking in particular to annul a decision of the officers of the General Meeting of November 30, 2022, which had deprived them of part of their voting rights, to cancel the said Meeting and to pay them damages.
Marc Goldberg, Chairman of Claranova’s Board of Directors, commented: “We are delighted with this decision, which reflects the pacified climate that now prevails within Claranova. With renewed governance and the recent refinancing of its debt, Claranova can now focus, under the leadership of its CEO Eric Gareau, on defining its new strategic roadmap aimed at further improving the company’s financial and commercial performance.”
Michael Dadoun and Daniel Assouline commented: “We are very pleased to see that Claranova has embraced the renewal of the company’s governance. Under these conditions, the procedures we had initiated are no longer justified, and we have therefore decided to withdraw them. As shareholders and members of the Board of Directors, we wish to lend our constructive support to Claranova’s continued progress.”