Latest news with #boardofdirectors
Yahoo
11 hours ago
- Business
- Yahoo
LeddarTech Announces Intention to File under the Bankruptcy and Insolvency Act in Canada
QUEBEC CITY, Canada, June 16, 2025 (GLOBE NEWSWIRE) -- LeddarTech® Holdings Inc. ('LeddarTech' or the 'Company') (Nasdaq: LDTC), an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), today announces that, further to its press release dated June 11, 2025, it intends on making an assignment into bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada) (the 'BIA'). After careful consideration of all available alternatives, including undertaking a strategic review which was unsuccessful in identifying a suitable acquirer or commercial partner or raising sufficient capital, as well as further to the Company having received a notice of default under its bridge financing offer entered into with certain bridge lenders, the board of directors of the Company has determined that it was in the best interest of the Company and its stakeholders to make an assignment into bankruptcy under the BIA as soon as reasonably practicable. The Company expects that Raymond Chabot Inc., a licensed insolvency trustee, will be appointed as the trustee under the BIA proceedings. In connection with the BIA proceedings, each member of the board of directors of the Company will resign effective upon the assignment under the BIA. As was disclosed in its June 11, 2025 press release, the Company does not expect to resume active operations and cautions investors that there is significant risk that holders of our securities will receive little to no value under the BIA proceedings. Further announcements regarding the status of the Company's BIA proceedings will be made as developments warrant. Additional information with respect to the BIA proceedings will be available in due course on Raymond Chabot Inc.'s website. The Company expects that its common shares and warrants trading on the Nasdaq will be halted as a result of the BIA proceedings. The Company anticipates that it will ultimately be delisted from the Nasdaq. About LeddarTech A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech's automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off- road vehicle ADAS solutions. LeddarTech is responsible for several remote-sensing innovations, with over 190 patent applications (112 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution. Additional information about LeddarTech is accessible at and on LinkedIn, Twitter (X), Facebook and YouTube. Forward-Looking Statements Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws). Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as 'may,' 'will,' 'should,' 'would,' 'expect,' 'anticipate,' 'plan,' 'likely,' 'believe,' 'estimate,' 'project,' 'intend' and other similar expressions among others. Forward-looking statements in this press release include, without limitation, statements regarding the issuance of cease trade orders, the BIA proceedings, and the potential for shareholder value recovery. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties, including the risk factors as detailed from time to time in LeddarTech's reports filed with the U.S. Securities and Exchange Commission (the 'SEC'), including the risk factors contained in LeddarTech's Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. Contact:Chris Stewart, Chief Financial Officer, LeddarTech Holdings + 1-514-427-0858, Investor relations website: Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners. LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol 'LDTC.'Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 hours ago
- Business
- Yahoo
Jersey Opera House gets third chairperson of 2025
Jersey Opera House has appointed a new interim chairperson, in the latest chapter of a story which has seen multiple resignations since the start of 2025. Laura Robertson, a lawyer, has stepped into the position having already served as part of the board of directors. The decision comes after Cyril Whelan announced on Wednesday he was to resign having only just succeeded another outgoing interim chairperson in April. Jersey Opera House's Grade II listed building in St Helier reopened after five years in May following a major £13m refurbishment scheme. More news stories for Jersey Listen to the latest news for Jersey Follow BBC Jersey on X and Facebook. Send your story ideas to Jersey Opera House's interim chair steps down Opera House reopens for Liberation Day concerts Jersey Opera House
Globe and Mail
15 hours ago
- Business
- Globe and Mail
Telesat Announces Results of 2025 Annual General Meeting of Shareholders
OTTAWA, Ontario, June 19, 2025 (GLOBE NEWSWIRE) -- Telesat Corporation (Nasdaq and TSX: TSAT) ('Telesat' or the 'Company'), one of the world's largest and most innovative satellite operators, today announced the voting results from its annual general meeting of shareholders held on June 17th virtually via live audio webcast. Shareholders of Telesat voted in favour of all items of business, including the appointment of Deloitte LLP Chartered Professional Accountants as auditors of the Company and the election of each of the director nominees as follows: Director Nominee Votes For Votes Withheld (a) Michael Boychuk 47,936,239 986,534 (b) Jane Craighead 46,146,974 2,775,795 (c) Richard Fadden 47,932,024 990,749 (d) Daniel S. Goldberg 47,934,997 987,776 (e) Henry (Hank) Intven 46,846,629 2,076,144 (f) David Morin 47,926,555 996,218 (g) Dr. Mark H. Rachesky 46,143,966 2,778,807 (h) Guthrie Stewart 46,145,394 2,777,377 (i) Michael B. Targoff 47,938,568 984,205 (j) Janet Yeung 47,938,784 983,987 Final voting results on all matters voted on at the meeting will be filed on SEDAR+ at and on EDGAR at About Telesat Backed by a legacy of engineering excellence, reliability and industry-leading customer service, Telesat (Nasdaq and TSX: TSAT) is one of the largest and most successful global satellite operators. Telesat works collaboratively with its customers to deliver critical connectivity solutions that tackle the world's most complex communications challenges, providing powerful advantages that improve their operations and drive profitable growth. Continuously innovating to meet the connectivity demands of the future, Telesat Lightspeed, the company's Low Earth Orbit ('LEO') satellite network, has been optimized to meet the rigorous requirements of telecom, government, maritime and aeronautical customers. Telesat Lightspeed will redefine global satellite connectivity with ubiquitous, affordable, high-capacity, secure and resilient links with fibre-like speeds. For updates on Telesat, follow us on LinkedIn, X, or visit Contacts: Investor Relations
Argaam
a day ago
- Business
- Argaam
Seera board recommends 10% share buyback
Seera Group Holding 's board of directors recommended the repurchase of up to 10% of the company's ordinary shares following the completion of the capital cut, announced earlier today, June 19. According to a statement to Tadawul, these shares will be retained as treasury shares since the board believes the stock is currently undervalued compared to its fair value. The number of shares to be repurchased amounts to approximately 26.92 million, the statement noted, adding that the transaction will be funded through the company's own resources. The company said that this proposal is pending shareholders' approval and is subject to meeting all regulatory conditions. Additionally, the company affirmed that it will comply with the solvency requirements, as per the solvency report issued by the company's external auditor. The repurchased shares shall not have voting rights at general meetings, the statement added. Seera's board further recommended an 8.65% capital cut, or 8.65 shares for every 100 shares held, by canceling 25.95 million ordinary treasury shares. This includes approximately 2.03 million ordinary shares allocated to the company's employee stock program. Treasury shares currently account for 8.8% of total shares. Following the proposed cancellation, treasury shares would represent approximately 0.18% of the company's share capital.
CTV News
2 days ago
- Business
- CTV News
‘Needs results': New REAL CEO looks to stabilize finances
At the start of June, seven members of the Regina Exhibition Association Limited (REAL) as were laid off as part of restructuring the organization. A new president and Chief Executive Officer was also announced last week, in Rick Bennett. Monday was his first day on the job. 'When we start to look forward, there's a number of items that we hope to accomplish,' said Bennett. 'First of all, REAL doesn't need more reports, it needs results. We're really looking to ignite the passion for financial stability, a direction forward and clarity that's really going to stem around creating a plan that's sustainable. Bennett believes that it should also be backed by private sector investment. 'We obviously have a financial challenge and we're at that crossroads right now of where challenge meets opportunity,' he said. 'I think to the City of Regina, there's an expectation that we stabilize finances and that's been well underway. We've got a critically focused board of directors at this point who have communicated that mandate to the entire team.' Bennett hopes to see the diversification of programming on the overall site and would like to see that applied to the buildings on a regular basis. 'We've got a challenge in terms of the physical infrastructure reaching the end of its life cycle, and that's going to be one of our biggest nuggets to solve,' he said. Bennett also mentioned that the depth of infrastructure, hotel availability, roads, airport access, public transportation, all play a critical role in terms of activating the local space.
