Concerned Rektron Group Inc. Shareholders Deliver Meeting Requisition

VANCOUVER, BC, Sept. 16, 2024 /CNW/ - Callan Partners Limited ("Callan Partners") and Nile Flow Limited ("Nile Flow", and together with Callan Partners, the "Concerned Shareholders"), being concerned shareholders of Rektron Group Inc. (the "Company"), announced today that they have requisitioned a special meeting of shareholders of the Company (the "Meeting") for the purposing of removing and replacing certain directors of the Company.

The purpose of the requisition (the "Requisition") submitted by the Concerned Shareholders is to change the composition of the Company's board of the directors (the "Board"). Specifically, the Concerned Shareholders are seeking to remove and replace certain directors who are executive members of the Company .

The Concerned Shareholders were driven to deliver the Requisition due to the lack of independent oversight of the Company's executive management, with executive management currently comprising a majority of the Board.  

The Concerned Shareholders have not entered into any formal agreement(s) with one another, or any party, regarding how they will vote their common shares of the Company ("Common Shares") at the Meeting, however both confirm that they intend to vote their Common Shares in favour of the resolutions to remove the outgoing directors and elect new directors as replacements.

Early Warning Reports

The Concerned Shareholders also announce the filing of early warning reports in connection with the Requisition.

Callan Partners owns or exercises control or direction over 23,926,077 Common Shares representing approximately 40.49% of the issued and outstanding Common Shares on a non-diluted basis. Nile Flow owns or exercises control or direction over 29,242,983 Common Shares representing approximately 49.48% of the issued and outstanding Common Shares on a non-diluted basis. The Concerned Shareholders beneficially own or exercise control or direction over an aggregate of 53,169,060 Common Shares, representing approximately 89.97% of the outstanding number of Common Shares.

The early warning reports will be filed with the applicable securities commissions using the System for Electronic Document Analysis and Retrieval (SEDAR+) and will be available for viewing on the Company's profile at www.sedarplus.ca.

SOURCE Callan Partners Limited and Nile Flow Limited

Further Information: For further information, please contact: Nile Flow Limited, 5-9, Main Street, GX11 1AA, Gibraltar, Callan Partners Limited, 29 Cunard Court, Brightwen Grove, Middlesex, United Kingdom, HA7 4WY, Tel: [phone]