Key Summary: On June 26,2024, Value Base Ltd (9.41%) proposed that the Company nominate Mr. Yaacobi, Managing Partner of Value Base Ltd, as a director. On July 7, 2024, the company had declined Value Base's nomination. On August 6, 2024, Value Base Ltd requested the Board of Directors to revise the July 30, 2024 proxy statement.Market Cap: $537 million | Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide.
Value Base Ltd
On June 26,2024, Value Base Ltd (9.41%) proposed that the Company nominate Mr. Yaacobi, Managing Partner of Value Base Ltd, as a director. Source
On July 25, 2024, Value Base Ltd disclosed that on July 7, 2024, the company had declined Value Base's nomination. Source
On August 6, 2024, Value Base Ltd requested the Board to revise the July 30, 2024 proxy statement to include: (i) the election of Mr. Tal Yaacobi as a Class III director, and (ii) approval of indemnification, exculpation agreements, liability insurance, and compensation for Mr. Yaacobi, similar to current directors. Source
On August 20, 2024, Value Base Ltd (9.33%) urged fellow shareholders to support its director candidate, Mr. Tal Yaacobi, and reject certain company proposals. They criticized current board leadership, particularly Mr. Earl Shanks, for failing to enhance shareholder value amidst a significant drop in share price. Source
On August 27, 2024, Value Base Ltd issued a presentation titled “Value Base Group’s 2024 Value Creation Plan for Cognyte Software Ltd.” reiterating shareholders to support its director candidate, Mr. Tal Yaacobi, and reject certain company proposals.
Neuberger Berman Group
On August 8, 2022, Neuberger Berman Group (6%) stated its belief that although the company has encountered operational challenges since its IPO and has recently reported disappointing financial results, it has a solid foundation from which shareholder value can be restored . Neuberger Berman Group further believes that the ability of the management to successfully execute a turnaround of the business would be materially enhanced by raising incremental equity capital and adding members of management and directors with skills that complement those of the existing members of management and the Board of value-base-urges-cognyte-cgnt-shareholders-to-vote-for-its-highly-qualified-director-candidate-andDirectors. In that connection, Neuberger Berman Group sent a letter to the Board informing value-base-urges-cognyte-cgnt-shareholders-to-vote-for-its-highly-qualified-director-candidate-andthat it has identified executives who can help improve the company’s execution. Also, it intends to speak with members of the Board and management, other stockholders and third parties regarding steps that can be taken by the company, its Board and management team to turnaround the business and alternatives available to the company to raise additional equity capital.
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