Canada’s Optiva sets up committee to look at financial options
Optiva Inc. reports that its board of directors has established a financing committee consisting of independent directors Robert Stabile and Anuroop Duggal.
The aim is to review and assess, among other things, Optiva’s alternatives to completing a financing transaction involving the issuance of subordinate voting shares or other securities of the company.
As part of the process, Optiva says, “it is expected that the Financing Committee will fairly consider in an even-handed manner any reasonable financing alternatives that may be made available to the company in accordance with that process, including without limitation from any existing shareholder of the company or OceanLink Management Ltd.
There can be no assurance that any such financing alternatives will be made available to the company on terms that the Financing Committee considers to be in the best interests of Optiva, or that any financing or other transaction will be completed by the company.”
The company has also announced that Andrew Price and Neeraj Gupta have been added to its board of directors. Biographies of both men will be added to the company’s website. Robert Stabile, chair of the board, adds, “We welcome Andrew and Neeraj to the board and look forward to their positive contribution to Optiva going forward.”