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BRIEF-Innodata Announces The Establishment Of A Special Committee And Certain Related Actions
December 4, 2017 / 9:35 PM / 7 days ago

BRIEF-Innodata Announces The Establishment Of A Special Committee And Certain Related Actions

Dec 4 (Reuters) - Innodata Inc:

* INNODATA ANNOUNCES THE ESTABLISHMENT OF A SPECIAL COMMITTEE AND CERTAIN RELATED ACTIONS

* INNODATA - BOARD ESTABLISHED SPECIAL COMMITTEE WHOSE CHARGE IS TO DETERMINE WHETHER TO REDUCE OR SELL SOME OF ITS OPERATIONS TO FUND OTHER OPERATIONS

* INNODATA INC - UNDERTAKING A FURTHER ROUND OF $1 MILLION OR MORE IN COST CUTS, WHICH WILL BE IN ADDITION TO $2 MILLION IN COST CUTS ANNOUNCED LAST QUARTER

* INNODATA INC - ‍O‘NEIL NALAVADI CEASED TO BE CO‘S CFO EFFECTIVE DEC 1 AND IS NO LONGER EMPLOYED BY CO

* INNODATA INC - ‍RAJ JAIN APPOINTED PRINCIPAL FINANCIAL OFFICER​

* INNODATA - DETERMINED THAT FOR PERIODS TO BE DESIGNATED, DIRECTOR FEES TO BE PAID IN RESTRICTED STOCK

* INNODATA - ALSO DETERMINED THAT FOR PERIODS TO BE DESIGNATED, 20 PERCENT OF SALARIES OF CEO, CHIEF OPERATING OFFICER TO BE PAID IN RESTRICTED STOCK

* INNODATA - BOARD‘S COMMITTEE TO REVIEW BOARD COMPOSITION, EXTENT TO WHICH SKILLS OF PRESENT DIRECTORS “ALIGN WITH CURRENT & EMERGING NEEDS” OF BUSINESS Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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