Edition:
India

Nokomis Capital says On Aug 21,Nokomis, Certain Of Their Affiliates Entered Into Agreement With Telenav With Respect To Appointment Of Director To Board


Friday, 23 Aug 2019 

Aug 23 (Reuters) - NOKOMIS CAPITAL :NOKOMIS CAPITAL -ON AUG 21,NOKOMIS, CERTAIN OF THEIR AFFILIATES ENTERED INTO AGREEMENT WITH TELENAV WITH RESPECT TO APPOINTMENT OF DIRECTOR TO BOARD.NOKOMIS CAPITAL-PURSUANT TO AGREEMENT, TELENAV AGREED THAT IT WILL NOMINATE WES CUMMINS FOR ELECTION AS CLASS I DIRECTOR OF BOARD AT 2019 MEETING.NOKOMIS CAPITAL-TELENAV WILL ALSO RECOMMEND THAT ITS STOCKHOLDERS VOTE, AND IT WILL SOLICIT PROXIES, IN FAVOR OF ELECTION OF CUMMINS AT 2019 MEETING.NOKOMIS CAPITAL-NOKOMIS IS SUBJECT TO CERTAIN STANDSTILL RESTRICTIONS DURING PERIOD FROM DATE OF AGREEMENT UNTIL ON DAY OF TELENAV'S 2020 MEETING.