ALY:CC - Fourth Update on Ongoing Matters at AnalytixInsight
Certain directors and officers of AnalytixInsight Inc. (“ AnalytixInsight ”, or the “ Company ”) (TSX-V: ALY) today provide an additional update on ongoing corporate matters at the Company . For more information, please see the news releases disseminated by the Company and certain of the Company’s directors and officers on April 7, April 11, and April 12, 2024, respectively, each of which are available under the Company’s SEDAR+ profile at www.sedarplus.ca . Please note that this press release has not been approved by all members of the board of directors of the Company (the “ Board ”).
On the afternoon of April 17, 2024, Natalie Hirsch, the interim chief executive officer of the Company, received a letter from Michael Woollcombe of Voorheis & Co. LLP, purportedly on behalf of directors Chaith Kondragunta and Jith Veeravalli, advising her that her employment had been terminated for cause, effective immediately. The Company has also been advised that these 2 conflicted directors have purportedly appointed a good friend of Mr Hariharan as Interim President of ALY .
It is the view of Vince Kadar and Scott Gardner (directors), Ms. Hirsch (interim president and chief executive officer), and Mr. Atin (corporate secretary) that Ms. Hirsch’s purported termination, following Mr. Atin’s purported termination, as well as the purported removal of Mr. Kadar as Chair of the Board, and the attempt by Messrs. Kondragunta, Veeravalli, and Hariharan to emasculate AnalytixInsight’s Board are all acts in retaliation for their efforts to investigate serious allegations of breaches of securities and corporate laws as well as their efforts to bring this misconduct to the attention of the Ontario Securities Commission.
The first court appearance to seek the assistance of the Ontario Superior Court to restore the proper Board and it’s management and protect them from further acts of retaliation is scheduled for 930 am tomorrow morning. A further Press release will be published thereafter .
About AnalytixInsight Inc.
AnalytixInsight is a data analytics and enterprise software solutions provider. AnalytixInsight develops and markets cloud-based platforms providing financial content, company analysis and stock research solutions to the financial services industry. AnalytixInsight holds a 49% interest in MarketWall S.R.L., a developer of fintech solutions for financial institutions in Italy.
Regulatory Statements
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240417100033/en/
Natalie Hirsch
Interim CEO
(647) 955-2933
natalie.hirsch@analytixinsight.com