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TransAct Technologies Incorporated Confirms Receipt of Director Nominations
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
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Rhea-AI Summary
TransAct Technologies (NASDAQ: TACT) announced it received a nomination notice for two candidates for election to its Board of Directors at the upcoming 2022 Annual Meeting of Stockholders. No stockholder action is required at this time. The Company aims to sustain open communication with 325 Capital and Harbert Management Corporation, focusing on enhancing shareholder value. The Board will evaluate the nominations and provide a formal recommendation in the definitive proxy materials to be filed with the SEC.
Positive
Engagement with 325 Capital and Harbert Management Corporation for constructive feedback.
Commitment to drive value for all stockholders.
Negative
None.
No Stockholder Action Required at This Time
HAMDEN, Conn.--(BUSINESS WIRE)--
TransAct Technologies Incorporated (“the Company”) (NASDAQ: TACT), a global leader in developing software-driven technology and printing solutions for high-growth markets, today confirmed the receipt of a nomination notice for two candidates to stand for election to the Company’s Board of Directors (the “Board”) at the Company’s 2022 Annual Meeting of Stockholders. Stockholders are not required to take any action at this time.
The Company issued the following statement:
TransAct Technologies has maintained an open dialogue with individuals from 325 Capital and Harbert Management Corporation and the Board of Directors welcomes open, constructive feedback regarding the common goal of driving value for all stockholders. TransAct Technologies remains focused on designing and executing a business strategy aligned with the best interests of the Company and all of its shareholders.
The Board will review the director nominations and, if appropriate, will present its formal recommendation regarding director nominations in the Company’s definitive proxy materials that will be filed with the Securities and Exchange Commission and mailed to shareholders eligible to vote at the 2022 Annual Meeting, which has not yet been scheduled.
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a global leader in developing software-driven technology and printing solutions for high-growth markets including food service, casino and gaming, POS automation, and oil and gas. The Company’s solutions are designed from the ground up based on customer requirements and are sold under the BOHA!™, AccuDate™, EPICENTRAL®, Epic®, Ithaca® and Printrex® brands. TransAct has sold over 3.3 million printers and terminals around the world and is committed to providing world-class service, spare parts and accessories to support its installed product base. Through the TransAct Services Group, the Company also provides customers with a complete range of supplies and consumable items both online at http://www.transactsupplies.com and through its direct sales team. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call (203) 859-6800.
What are the recent developments regarding TransAct Technologies' Board of Directors?
TransAct Technologies received nominations for two candidates to stand for election to its Board of Directors at the 2022 Annual Meeting of Stockholders.
Do stockholders need to take action regarding the recent Board nominations?
No stockholder action is required at this time.
What is the purpose of the open dialogue with 325 Capital and Harbert Management Corporation?
The dialogue aims to drive value for all stockholders through constructive feedback.
When will the formal recommendations for director nominations be released?
The Board will present its formal recommendations in the definitive proxy materials filed with the SEC before the Annual Meeting.
What is TransAct Technologies' focus as it engages with shareholders?
TransAct Technologies is focused on designing and executing a business strategy aligned with the best interests of the Company and all shareholders.
