{"id":17839,"date":"2026-06-09T03:18:00","date_gmt":"2026-06-09T01:18:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=efded785767a3852815b0fb0b43b64e6"},"modified":"2026-06-09T03:18:00","modified_gmt":"2026-06-09T01:18:00","slug":"iolite-entrenched-dynacor-board-continues-misinformation-trend-and-limits-shareholder-rights-in-a-contested-meeting","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=17839","title":{"rendered":"iolite: Entrenched Dynacor Board Continues Misinformation Trend and Limits Shareholder Rights in a Contested Meeting"},"content":{"rendered":"<ul class=\"bwlistdisc\">\n<li>\nDynacor claims leading independent proxy advisors \u201cunanimously support\u201d its director nominees while knowing such recommendations have been pulled down, pending reassessment based on iolite\u2019s <b><span class=\"bwuline\">BLUE<\/span><\/b> Proxy materials<\/li>\n<li>\nThe Board\u2019s actions undermine its messaging to shareholders as Dynacor continues to deflect from well-founded concerns through personal attacks while avoiding transparency and accountability<\/li>\n<li>\nDynacor\u2019s decision to hold a virtual-only meeting restricts meaningful shareholder participation and limits direct engagement with the Board at a critical time<\/li>\n<li>\nShareholders are encouraged to assess the Company\u2019s claims and poor track record, and to review iolite\u2019s detailed case for change at Dynacor, available at <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.savedynacor.com&amp;esheet=54550075&amp;newsitemid=20260608846340&amp;lan=en-US&amp;anchor=www.SaveDynacor.com&amp;index=1&amp;md5=875dbdeebd87972aabf2945890085e5e\" rel=\"nofollow\" shape=\"rect\"><b>www.SaveDynacor.com<\/b><\/a><\/li>\n<li>\n<b>Questions? Need Help Voting <span class=\"bwuline\">BLUE<\/span>?<\/b> Contact Kingsdale Advisors by phone at <b>1-866-228-8614<\/b> or email <a  href=\"mailto:contactus@kingsdaleadvisors.com\" rel=\"nofollow\" shape=\"rect\"><b>contactus@kingsdaleadvisors.com<\/b><\/a>. Protect your investment by voting with the <b><span class=\"bwuline\">BLUE<\/span><\/b> Proxy<\/li>\n<\/ul><p>FREIENBACH, Switzerland--(BUSINESS WIRE)--iolite Partners Ltd. (\u201ciolite\u201d or the \u201cConcerned Shareholder\u201d), the largest shareholder of Dynacor Group Inc. (TSX: DNG) (\u201cDynacor\u201d or the \u201cCompany\u201d) with an approximately 7% interest, today responded to Dynacor\u2019s June 8 press release, which relies on outdated proxy advisory references and omits material information relevant to shareholders. Doing so, ahead of the Company\u2019s upcoming Annual General Meeting of Shareholders, scheduled to be held on June 19, 2026 (the \u201cMeeting\u201d), highlights continued governance concerns.<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260608846340\/en\/2826894\/5\/iolite-logo-blue-master.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260608846340\/en\/2826894\/22\/iolite-logo-blue-master.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260608846340\/en\/2826894\/5\/iolite-logo-blue-master.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260608846340\/en\/2826894\/21\/iolite-logo-blue-master.jpg\" \/><\/a><p>\nDynacor\u2019s assertion that Institutional Shareholder Services Inc. (\u201cISS\u201d) and Glass, Lewis &amp; Co. LLC (\u201cGlass Lewis\u201d) \u201cunanimously support\u201d its director nominees is materially misleading. Both reports referenced by the Company have been withdrawn and are currently under review. Dynacor is or should have been aware of this prior to communicating with the broader market and soliciting votes from its shareholders.<\/p><p>\nShareholders should treat Dynacor\u2019s characterization of these recommendations with caution until updated analyses are released. Reliance on superseded materials raises serious questions about the Company\u2019s transparency and judgment in communicating with investors during a contested situation.<\/p><p>\n<b>THE BOARD\u2019S ACTIONS UNDERMINE ITS MESSAGING TO SHAREHOLDERS<\/b><\/p><p>\nRather than addressing the well-founded questions and very serious issues raised by iolite in this contested meeting, Dynacor has chosen to double down on stale and vile personal attacks, while continuing to avoid transparency and accountability. This approach is not only unacceptable, but grossly misguided at a time when shareholders deserve clear answers and responsible leadership.<\/p><p>\nEven more troubling, Dynacor is using shareholder capital to fund what appears to be a deliberate effort to deflect from legitimate concerns \u2014 a disgraceful and improper use of corporate resources that underscores the Board\u2019s misaligned priorities.<\/p><p>\n<b>VIRTUAL MEETING DIMINISHES SHAREHOLDER ENGAGEMENT<\/b><\/p><p>\nEqually concerning is Dynacor\u2019s decision to still hold its 2026 annual meeting in a virtual-only format. In the context of a contested election, this decision effectively limits meaningful shareholder participation and undermines accountability.<\/p><p>\nA virtual-only meeting restricts the ability of shareholders to engage directly with the Board, reduces the opportunity for spontaneous, unfiltered questions, and signals a reluctance to face investors in an open forum at a critical time for governance oversight.<\/p><p>\niolite believes that strong governance begins with genuine shareholder engagement and not carefully controlled formats that constrain dialogue. Shareholders should ask why Dynacor is unwilling to provide a hybrid or in-person meeting structure that allows for full and transparent interaction.<\/p><p>\n<b>IOLITE\u2019S CASE FOR CHANGE<\/b><\/p><p>\nShareholders are encouraged to assess the Company\u2019s claims and track record, and to review the detailed case for change, available at <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.SaveDynacor.com&amp;esheet=54550075&amp;newsitemid=20260608846340&amp;lan=en-US&amp;anchor=www.SaveDynacor.com&amp;index=2&amp;md5=4a9173e65c5d0bac850be636f82ee1e3\" rel=\"nofollow\" shape=\"rect\">www.SaveDynacor.com<\/a>.<b> <\/b>This updated site includes iolite\u2019s analysis of Dynacor\u2019s governance practices, capital allocation decisions, and strategic direction, as well as the rationale underpinning its current campaign.<\/p><p>\niolite remains focused on advancing a constructive path forward that strengthens oversight, enhances accountability, and ensures that shareholder interests are placed at the centre of every decision.<\/p><p>\nFellow shareholders are urged to protect their investment by voting <b>WITHHOLD<\/b> on five incumbent directors and <b>AGAINST<\/b> the stock option plan, to ensure their votes are not returned to outgoing CEO Jean Martineau.<\/p><p>\n<b>The directors standing for re-election represent a significant risk to your investment. On their watch, almost the entire leadership team that built this business over two decades \u2014 and more than half of its 550-person workforce \u2014 was replaced without explanation; roughly 10 kilograms of gold went unaccounted for; and 100% of the Company's revenue spent four months under the most stringent customs scrutiny.<\/b><\/p><p>\n<b>DON\u2019T WAIT. VOTE <span class=\"bwuline\">BLUE<\/span> TODAY<\/b><\/p><p>\niolite encourages shareholders to review its materials and make their voices heard at the Meeting by voting in line with iolite\u2019s Voting Recommendations ONLY on the <b><span class=\"bwuline\">BLUE<\/span><\/b> Proxy. Please disregard the proxy materials you have received from Dynacor.<\/p><p>\nShareholders seeking assistance with voting procedures or with questions regarding the meeting or related materials may contact Kingsdale Advisors at:<\/p><ul class=\"bwlistdisc\">\n<li>\n<b>North American Toll-Free: 1-866-228-8614<\/b><\/li>\n<li>\n<b>Call or Text: 1-437-561-5008<\/b><\/li>\n<li>\n<b>Email: <a  href=\"mailto:contactus@kingsdaleadvisors.com\" rel=\"nofollow\" shape=\"rect\">contactus@kingsdaleadvisors.com<\/a><\/b><\/li>\n<li>\n<b>Website:<\/b> <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.SaveDynacor.com&amp;esheet=54550075&amp;newsitemid=20260608846340&amp;lan=en-US&amp;anchor=www.SaveDynacor.com&amp;index=3&amp;md5=429bc8f21f5173caf77717091a05e0e8\" rel=\"nofollow\" shape=\"rect\">www.SaveDynacor.com<\/a><\/li>\n<\/ul><p>\n<b>Advisors<\/b><\/p><p>\nFasken Martineau DuMoulin LLP is acting as legal counsel to iolite. Kingsdale Advisors is acting as strategic advisor to iolite.<\/p><p>\n<b>About iolite Partners Ltd.<\/b><\/p><p>\niolite Partners Ltd. is an investment manager focused on identifying and investing in high-quality businesses with the potential for long-term value creation. iolite is a significant shareholder of Dynacor and is committed to ensuring that the Company operates with strong governance, accountability and alignment with shareholder interests.<\/p><p>\n<b>Important Notice<\/b><\/p><p>\nThis release is published by iolite Partners Ltd., 4th Floor, Harbour Place, 103 South Church Street, PO Box 10240, KY1-1002, Grand Cayman, Cayman Islands, on <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.iolitecapital.com&amp;esheet=54550075&amp;newsitemid=20260608846340&amp;lan=en-US&amp;anchor=www.iolitecapital.com&amp;index=4&amp;md5=995a2b7b736dadbbe6699cc197b10acb\" rel=\"nofollow\" shape=\"rect\">www.iolitecapital.com<\/a>. Its sole purpose is to inform shareholders of the voting intentions and recommendations of the undersigned, the beneficial owner of 7% of the common shares of Dynacor Group Inc., 606 Cathcart Street, Suite 640, Montreal, Quebec H3B 1K9, Canada (the \u201cIssuer\u201d).<\/p><p>\nThis communication is not, and should not be construed as:<\/p><p>\n(A) a proxy solicitation within the meaning of Part 9 of National Instrument 51-102 \u2014 the undersigned relies on the exemption in section 9.2(1), which relieves a beneficial owner who publicly discloses voting intentions from delivering an information circular when no form of proxy is sought from other securityholders;<\/p><p>\n(B) an information circular, notice of meeting, or form of proxy issued by the Issuer or its management \u2014 shareholders should rely solely on the Issuer's official meeting materials for definitive information and the circular to be filed by Iolite in connection with the meeting; or<\/p><p>\n(C) investment advice or an offer to buy, sell, or exchange any security of the Issuer or any other entity.<\/p><p>\nThe Issuer's 2026 Annual Meeting of Shareholders will be held virtually by live webcast on June 19, 2026, at 10:00 a.m. ET. To attend, vote, or ask questions, follow the procedures set out in the Issuer's management information circular or on its investor relations webpage. The undersigned accepts no responsibility for any shareholder's inability to access the webcast.<\/p><br\/> <b>Contacts<\/b> <br\/><p>\n<b>Investors<\/b><br\/>iolite Capital | Gwattstrasse 15, 8808 Pf\u00e4ffikon SZ, Switzerland | +41 79 227 29 08 | <a  href=\"mailto:dynacor@iolitecapital.com\" rel=\"nofollow\" shape=\"rect\">dynacor@iolitecapital.com<\/a><\/p><p>\n<b>Media<\/b><br\/>Kingsdale Advisors\n<br\/>Phone: 416-644-4031\n<br\/>Email: <a  href=\"mailto:ageorge@kingsdaleadvisors.com\" rel=\"nofollow\" shape=\"rect\">ageorge@kingsdaleadvisors.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Dynacor claims leading independent proxy advisors \u201cunanimously support\u201d its director nominees while knowing such recommendations have been pulled down, pending reassessment based on iolite\u2019s BLUE Proxy materials<\/p>\n<p>The Board\u2019s actions undermine its mes&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17839","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/17839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17839"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/17839\/revisions"}],"predecessor-version":[{"id":17840,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/17839\/revisions\/17840"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}