Avante Activism Just found this helpful discussion, and wanted to engage as I have been an Avante shareholder since last summer.
Looks like George Christopoulos is advocating for a sale of the company. Has anyone been in touch with him? As a shareholder, I am aligned with many of the priorities that George is advocating for, though my sense from recent press releases is that management has not been receptive to the ideas.
https://www.newswire.ca/news-releases/avante-logixx-inc-shareholder-announces-acquisition-of-shares-885758619.html
https://www.newswire.ca/news-releases/avante-logixx-inc-shareholder-announces-acquisition-of-shares-holds-12-33--834765460.html
Mr. Christopoulos has and or will be attempting to engage in discussions with Avante's directors concerning:
- Avoiding business expansion strategies of any kind (including expansion to Florida and Cybersecurity acquisitions), and instead paying all or substantially all of the approximately $11m cash to shareholders as a return of capital.
- Minimizing Avante's capital investments and any research and development activities.
- Changes to Avante's board of directors, to provide for at least some representation of minority shareholders.
- The sale of Avante through a controlled auction process.
- Obtaining a refund, from two shareholders, the $600,000 fee paid by Avante on June 3, 2022, as described in Note 21 of Avante's 2022 audited financial statements.
- A potential formal requisition of a meeting of shareholders for the purposes of, but not limited to, making changes to Avante's board of directors.