Gildantoholdshareholdermeetingsin latespringforboardofdirectorsvote - Gildan head office in Montreal, on Dec. 11, 2023.

The company says the timeline for the meeting on May 28 will give investors “a reasonable period” to evaluate the dissidents’ plan for the company while providing more opportunity to judge the competence of the new CEO brought in by the board, Vince Tyra. [...] investment fund Browning West, which is leading the dissidents, called it an “attempt to buy time for a seemingly unqualified chief executive officer with a record of value destruction.” Montreal-based Gildan is under pressure from Browning West and other shareholders to hold a meeting as soon as possible to consider bringing in a new board that would back the return of former CEO Glenn Chamandy. [...] “The board and shareholders are aligned in the view that a speedy resolution of this unnecessary proxy contest is in the best interests of the company and its shareholder owners.” The timing of the May meeting isn’t sitting well with at least two shareholders, who could mount a legal challenge to it. [...] 3/6 30/01/2024 09:56 Gildan to hold shareholder meetings in late spring for board of directors vote - The Globe and Mail The decision to hold the shareholders meeting in May takes. [...] Browning West’s stance is that it is not obligated to file under the HSR Act as the fund’s parent entity is not incorporated in the United States and Gildan is not based in the United States.