Notice of AGM
T42 IoT Tracking Solutions plc has announced its Annual General Meeting will be held on June 11, 2026, and has published its Notice of AGM. Key resolutions include a proposed one-time bonus payment of $350,000 to CEO Avi Hartmann, who has not received a remuneration increase since the 2013 IPO. This bonus, subject to shareholder approval, can be paid in cash by December 31, 2026 ($250,000) and December 31, 2027 ($100,000), or in new T42 shares based on the 5-day average share price at issuance. This proposed bonus is considered a related party transaction, with independent directors deeming its terms fair and reasonable for shareholders.
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T42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), a leading provider of global shipping container tracking solutions, announces that its Notice of Annual General Meeting ("AGM") has been published and will be available on the Company's website at: www.t42.co.uk/.
The Company's AGM will be held at 11.00 a.m. BST on 11 June 2026 at 96 Ramatayim Rd, Hod Hasharon, Israel 453 2532.
The Notice of AGM includes certain resolutions seeking shareholder approval in relation to remuneration proposals for certain directors following recommendation by the Remuneration Committee, including a one-time bonus payment to Avi Hartmann, CEO, of $350,000. Mr Hartmann has not received any increase in remuneration or bonus since the Company's IPO in 2013. The proposed bonus is to be paid, subject to shareholder approval, either in cash by 31 December 2026 ($250,000) and by 31 December 2027 ($100,000) or, at the election of the directors (excluding Mr Hartmann), in new T42 shares by reference to the 5-day average share price at the time of issuance, with such shares to be issued no later than three months after the relevant tranche payment date.
Related party transaction
The abovementioned proposed bonus to Mr Hartmann is deemed a related party transaction pursuant to the AIM Rules. Michael Rosenberg, Igor Vatenmacher and Martin Blair, being the directors independent of the proposed bonus, consider, that the terms of the bonus are fair and reasonable in so far as Shareholders are concerned.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.