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OneSpan Urges Shareholders to Vote for its Directors Nominees

05/10/2021 12:14

04:07 PM EDT, 05/10/2021 (MT Newswires) -- OneSpan (OSPN) said it has sent a letter to shareholders detailing the progress made on its strategic plan and urging them to re-elect all nine directors rather than voting for any of the four candidates nominated by shareholder Legion Partners.

OneSpan said it engaged with Legion more than 40 times over that past three years and considered every one of its suggestions.

"Our Board and management team have taken decisive steps to position the Company for growth - in many cases aligned with Legion's suggestions," according to the letter.

The company added that some of Legion's ideas were not implemented because they were based on a misunderstanding or implementing them would have been premature.

OneSpan said that it added six directors to the board over the last two years, as part of efforts to refresh the board. The company's annual meeting is schedule for June 9.

The company said Legion's claims the former has not implemented enough of its ideas and it has not sufficiently refreshed its board.

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