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Sierra Wireless Provides Update on Proposed Board Composition and 2020 Management Information Circular

·3-min read

Sierra Wireless (NASDAQ: SWIR) (TSX: SW), the leading IoT solutions provider that combines devices, network services and software to unlock value in the connected economy, today provided an update on the proposed Board composition and 2020 Management Information Circular (the "Circular"). As set forth in the Circular dated April 20, 2020, in connection with the Company’s upcoming Annual and Special Meeting of Shareholders (the Meeting"), the Company has recommended to shareholders that they consider and, if deemed appropriate, pass a special resolution authorizing the Company to amend its articles to increase the maximum number of directors of the Company from nine to twelve (the "Board Expansion Resolution"). See "Business of the Meeting - Amendment of Articles" in the Circular.

The Company advised in the Circular that, subject to the approval of the Board Expansion Resolution, the Board of Directors of the Company would appoint Martin Mc Court, Mark Twaalfhoven and Raj Talluri as directors of the Company following the Meeting.

It has since come to the Company’s attention that Mr. Raj Talluri will not be able to join the Company’s Board of Directors in the event that the Board Expansion Resolution is passed at the Meeting.

The Company will provide an update in advance of the Meeting if an additional candidate is to be put forward.

About Sierra Wireless

Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is the leading IoT solutions provider that combines devices, network services and software to unlock value in the connected economy. Companies globally are adopting IoT to improve operational efficiency, create better customer experiences, improve their business models and create new revenue streams. Whether it is an integrated solution to help a business securely connect edge devices to the cloud, or a software/API service to help manage processes associated with billions of connected assets, or a platform to extract real-time data to make the best business decisions, Sierra Wireless will work with you to develop the right industry-specific solution for your next IoT endeavor. Sierra Wireless has more than 1,300 employees globally and operates R&D centers in North America, Europe and Asia. For more information, visit www.sierrawireless.com.

Connect with Sierra Wireless on the IoT Blog at http://www.sierrawireless.com/iot-blog, on Twitter at @SierraWireless, on LinkedIn at http://www.linkedin.com/company/sierra-wireless and on YouTube at http://www.youtube.com/SierraWireless.

"Sierra Wireless" is a registered trademark of Sierra Wireless. Other product or service names mentioned herein may be the trademarks of their respective owners.

Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, anticipated board composition, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply conditions, channel and end customer demand conditions, revenues, gross margins, operating expenses, profits, and other expectations, intentions, and plans contained in this press release that are not historical fact. Our expectations regarding future revenues and earnings depend in part upon our ability to successfully develop, manufacture, and supply products that we do not produce today and that meet defined specifications. When used in this press release, the words "plan", "expect", "believe", and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market. In light of the many risks and uncertainties surrounding the wireless data communications market, you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200504005752/en/

Contacts

Media:
Kim Homeniuk
+1 (604) 233 8028
pr@sierrawireless.com

Investors:
David Climie
+1 (604) 231 1137
dclimie@sierrawireless.com