22NW Announces the Election of All Seven Nominees to DIRTT's Board at Annual and Special Meeting Based on Announced Results

Rhea-AI Summary

22NW Fund, LP, the largest shareholder of DIRTT Environmental Solutions Ltd. (NASDAQ:DRTT), has secured the election of its entire seven-member slate to the Board of Directors during the company's 2022 Annual and Special Meeting of Shareholders on April 26, 2022. With ownership of approximately 19% of DIRTT's outstanding shares, 22NW aims to enhance corporate governance and focus on initiatives that will unlock value for shareholders. The new board members include Aron English, Cory Mitchell, Ken Sanders, Douglas Edwards, Mary Garden, Scott Robinson, and Scott Ryan.

Positive

• 22NW's nominees elected to the Board could bring valuable industry experience.
• The election indicates strong shareholder support for the new leadership.
• New Board aims to enhance corporate governance and unlock shareholder value.

Negative

• None.

SEATTLE--(BUSINESS WIRE)-- 22NW Fund, LP (“22NW” or “we”), the largest shareholder of DIRTT Environmental Solutions Ltd. (NASDAQ:DRTT; TSX:DRT) (“DIRTT” or the "Company") with ownership of approximately 19% of the Company's outstanding shares, today commented on the results announced at the Company's 2022 Annual and Special Meeting of Shareholders held on Tuesday, April 26, 2022. The voting results indicate that shareholders have elected 22NW's entire seven-member slate to DIRTT's Board of Directors (the "Board"). DIRTT's new Board will include Aron English, Cory Mitchell, Ken Sanders, Douglas Edwards, Mary Garden, Scott Robinson and Scott Ryan.

Aron English, founder and portfolio manager of 22NW, commented:

"22NW is pleased that all seven of our nominees have joined the Board at this critical point in time. Our slate's ownership perspectives and industry experience will be tremendous assets in the boardroom. Our nominees are fully committed to putting this contest behind them and immediately helping chart the right path forward at DIRTT. We thank shareholders for their support throughout this process. Now that the Company's leadership structure has been reconstituted, DIRTT should be well-positioned to begin enhancing its corporate governance and prioritizing initiatives that are most likely to unlock meaningful value for shareholders, customers and other stakeholders."

View source version on businesswire.com: https://www.businesswire.com/news/home/20220426005975/en/

Saratoga Proxy Consulting

John Ferguson / Joe Mills, 212-257-1311

jferguson@saratogaproxy.com / jmills@saratogaproxy.com

Longacre Square Partners

Charlotte Kiaie / Bela Kirpalani, 646-386-0091

22NWFund@longacresquare.com

Source: 22NW Fund, LP

FAQ

What were the results of DIRTT's 2022 Annual and Special Meeting of Shareholders?

22NW Fund, LP's entire seven-member slate was elected to DIRTT's Board of Directors.

Who are the new Board members of DIRTT after the 2022 shareholder meeting?

The new Board members include Aron English, Cory Mitchell, Ken Sanders, Douglas Edwards, Mary Garden, Scott Robinson, and Scott Ryan.

What percentage of DIRTT's shares does 22NW Fund, LP own?

22NW Fund, LP owns approximately 19% of DIRTT Environmental Solutions' outstanding shares.

What is the goal of the newly elected Board for DIRTT?

The new Board aims to enhance corporate governance and prioritize initiatives to unlock value for shareholders.