Indaba

Lubanzi Wines launches a unique Orange Wine paying homage to South Africa's rich jazz history

Retrieved on: 
Wednesday, May 10, 2023
Orange wine, The Brother Moves On, Waterval, Attention, History, DNT, Wine, Nightclub, Indaba

CAPE TOWN, South Africa, May 10, 2023 /PRNewswire/ -- Lubanzi Wines, a socially-conscious and well recognized producer of high-quality wines hailing from South Africa, is excited to announce the release of their latest addition to their portfolio, 'Orange Is' Skin-Contact.

Key Points: 
  • CAPE TOWN, South Africa, May 10, 2023 /PRNewswire/ -- Lubanzi Wines, a socially-conscious and well recognized producer of high-quality wines hailing from South Africa, is excited to announce the release of their latest addition to their portfolio, 'Orange Is' Skin-Contact.
  • Paying homage to South Africa's long & unique Jazz history, the bottle features the album cover artwork of the acclaimed South African jazz album Indaba Is.
  • Released in 2021 by London-based indie label Brownswood Recording, Indaba Is is a vibrant, eclectic showcase of contemporary South African Jazz.
  • For more information on where to find the wine and to learn more about the wine & album, please visit www.lubanziwines.com or contact Lubanzi at [email protected]

ON24 Expands Capital Return Program to $125 Million and Announces Governance Enhancements

Retrieved on: 
Monday, March 13, 2023
Technology, Finance, Other Technology, Communications, Professional Services, Software, Digital Marketing, Data Management, Search Engine Marketing, Annual general meeting, NYSE, Share repurchase, B2B, Annual Meetings of the International Monetary Fund and the World Bank Group, Cryptocurrency, Management, Holding company, Security (finance), Indaba, ON24

ON24 (NYSE: ONTF) (“ON24” or the “Company”), a leading sales and marketing platform for B2B digital engagement, today announced that its Board of Directors (the “Board”) has authorized an expansion of its recently announced capital return program and a series of governance enhancements.

Key Points: 
  • ON24 (NYSE: ONTF) (“ON24” or the “Company”), a leading sales and marketing platform for B2B digital engagement, today announced that its Board of Directors (the “Board”) has authorized an expansion of its recently announced capital return program and a series of governance enhancements.
  • The ON24 Board of Directors has authorized the expansion of its previously announced $100 million capital return program by an incremental $25 million.
  • Upon completion of the $125 million capital return program, ON24 will have returned $166 million of capital since December 2021.
  • Sharat Sharan, co-founder, CEO and director of ON24, said, “At ON24, our strong balance sheet provides us with the financial flexibility to return this additional capital to our shareholders while continuing to invest in our business.

ON24 Announces New $100 Million Capital Return Program, Resulting in a Total of $141 Million of Capital to be Returned to Shareholders Since Fourth Quarter 2021

Retrieved on: 
Wednesday, February 8, 2023
Marketing, Communications, Professional Services, Finance, Slate, Hand, NDA, Feedback, NYSE, Skadden, Arps, Slate, Meagher & Flom, Growth, Share repurchase, B2B, Goldman Sachs, Cryptocurrency, Management, ON24, Indaba

Since the fourth quarter of 2021, ON24 has repurchased $41 million of outstanding common stock under its prior $50 million repurchase authorization announced in December 2021.

Key Points: 
  • Since the fourth quarter of 2021, ON24 has repurchased $41 million of outstanding common stock under its prior $50 million repurchase authorization announced in December 2021.
  • Upon completing the new capital return program, ON24 will have returned more than $140 million to shareholders since the fourth quarter of 2021.
  • The authorization still leaves ON24 with ample liquidity to invest in strategic priorities while navigating uncertain macro-economic headwinds.
  • ON24 regularly maintains open communications with its shareholders and values constructive input toward the goal of enhancing value for all shareholders of the Company.

Indaba Issues Letter to ON24’s Board of Directors Regarding the Need for a Meaningful Capital Return Program and Stronger Corporate Governance

Retrieved on: 
Wednesday, February 8, 2023
Professional Services, Finance, ON24, ASR, NYSE, Entrepreneurship, Risk, Share repurchase, Glenview Capital Management, History, Holding company, Management, Bank, Indaba

We are strong proponents of ON24 enacting a meaningful capital return program, a plan to achieve profitability and corporate governance enhancements.

Key Points: 
  • We are strong proponents of ON24 enacting a meaningful capital return program, a plan to achieve profitability and corporate governance enhancements.
  • We believe these actions are necessary in light of the Company’s approximately 80% share price decline over the past two years.
  • Unfortunately, the need for change at ON24 is evidenced by much more than just objectively terrible shareholder returns.
  • We believe the Board needs to be thoughtful about the best and most tax-efficient ways to return capital to shareholders.

Tabula Rasa HealthCare Announces Cooperation Agreement with Indaba Capital Management to Refresh the Company's Leadership and Board of Directors

Retrieved on: 
Wednesday, September 14, 2022
Securities Exchange Act of 1934, Risk, Annual general meeting, COVID-19, Director, Sale, LLC, Securities Act of 1933, U.S. Securities and Exchange Commission, Investor relations, Organization, Tabula rasa, Company, Health, Growth, RBC Capital Markets, Pharmacy, Information technology, Independent, Forward-looking statement, Patient, LLP, Solution, Annual report, Sustainability Accounting Standards Board, Leadership, The Company, NASDAQ, Morgan, Lewis & Bockius, Corporate governance, Lead, Board, Commitment, Security (finance), Newsroom, SEC, Multimedia, Failure, PACE, Holding company, Management, Indaba

MOORESTOWN, N.J., Sept. 14, 2022 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), ("TRHC" or the "Company"), a leading healthcare technology company advancing the safe use of medications, today announced a cooperation agreement with Indaba Capital Management, L.P. ("Indaba"), the Company's largest stockholder with an approximately 25% equity stake. 

Key Points: 
  • Pursuant to the cooperation agreement, the composition of the Board of Directors (the "Board") will be amended as follows:
    Calvin H. Knowlton and Orsula V. Knowlton will retire from the Company and step down from the Board, effective immediately.
  • Derek Schrier and Jonathan D. Schwartz have been appointed to the Board of Directors, effective immediately.
  • Following these changes, the Board will comprise nine independent directors, representing a mix of institutional knowledge and fresh perspectives, as well as robust financial, healthcare, strategic and corporate governance experience.
  • Tabula Rasa HealthCare (TRHC) (NASDAQ: TRHC) provides medication safety solutions that empower healthcare professionals and consumers to optimize medication regimens, combatting medication overload and reducing adverse drug events.

Tabula Rasa HealthCare Announces Leadership Transition

Retrieved on: 
Wednesday, September 14, 2022
Master of Divinity, Patient, U.S. Securities and Exchange Commission, Technology, Leadership, NASDAQ, Risk, Touche, COVID-19, Trust, Deloitte, Securities Act of 1933, Top, Organization, Tabula rasa, Company, Growth, RBC Capital Markets, Information technology, MBA, Investor relations, Annual report, Doctor of Philosophy, Hill+Knowlton Strategies, Newsroom, SEC, Failure, Director, Pharmacy, Forward-looking statement, Strategic planning, Audit committee, American City Business Journals, Board of directors, Morgan, Lewis & Bockius, Board, Security (finance), PACE, Doctor of Pharmacy, Securities Exchange Act of 1934, CFO, Doctor of Science, LLC, IME Group, Compensation, LLP, Solution, Multimedia, Management, Risk management, Indaba

MOORESTOWN, N.J., Sept. 14, 2022 /PRNewswire/ -- Tabula Rasa HealthCare, Inc.® (TRHC) (NASDAQ: TRHC), a leading healthcare technology company advancing the safe use of medications, today announced that co-founders Dr. Calvin H. Knowlton, BScPharm, MDiv, PhD, ScD (hon), Chief Executive Officer and Board Chairman, and Dr. Orsula V. Knowlton, PharmD, MBA, Co-President and Chief Marketing and New Business Development Officer, will retire from TRHC and step down as members of the Board of Directors, effective immediately. Director Michael Purcell has been named Independent Chair of the Board. Brian Adams, TRHC's Co-President, will serve as interim CEO while the Board executes a comprehensive process to identify a permanent successor. To support a seamless transition, the Knowltons have signed consulting agreements with TRHC through the end of the year.

Key Points: 
  • Brian Adams said, "Tabula Rasa has built a reputation as a leader in the value-based care market and I'd like to thank the Knowltons for their contributions to these efforts.
  • In addition to the leadership transition, TRHC today announced that it has entered into a cooperation agreement with Indaba Capital Management, L.P. ("Indaba").
  • Tabula Rasa HealthCare (TRHC) (NASDAQ: TRHC) provides medication safety solutions that empower healthcare professionals and consumers to optimize medication regimens, combatting medication overload and reducing adverse drug events.
  • Tabula Rasa HealthCare assumes no obligation and does not intend to update these forward-looking statements, except as required by law, to reflect events or circumstances occurring after today's date.

Indaba Issues Letter to Tabula Rasa’s Independent Directors Regarding Their Apparent Prioritization of the Knowltons’ Interests Over Shareholders’ Interests

Retrieved on: 
Tuesday, August 9, 2022
Professional Services, Finance, Annual Meetings of the International Monetary Fund and the World Bank Group, Disclosure, Risk, Annual general meeting, Face, Board, Wine, Annual, Hope, Doctor of Science, Courage, Company, Rear, MJ, NASDAQ, Hill+Knowlton Strategies, Manhattan Community Board 1, Ownership, Friends, Employment, MD, Glenview Capital Management, Security (finance), Management, Risk management, Indaba, Doctor of Pharmacy

Why are you unwilling to reduce the boardroom influence of the husband-and-wife management team by demanding the resignations of the Knowltons from the Board?

Key Points: 
  • Why are you unwilling to reduce the boardroom influence of the husband-and-wife management team by demanding the resignations of the Knowltons from the Board?
  • You approved a term sheet from Indaba that provided for their resignations earlier in the summer.
  • We were informed that the independent directors voted in a unanimous manner to approve our term sheet, which included the resignations of the Knowltons from the Board.
  • We are going to continue shining light on your apparent prioritization and protection of the Knowltons, their relatives and their friends in an increasingly detailed manner until the status quo changes.

Indaba Capital Delivers Demand for Inspection of Books and Records of Tabula Rasa HealthCare, Pursuant to Section 220 of Delaware Law

Retrieved on: 
Thursday, July 28, 2022
Finance, Consulting, Banking, Professional Services, Other Professional Services, The Malaysia Book of Records, Book, Sculptor Capital Management, Board, Hill+Knowlton Strategies, NASDAQ, Policy, Director, Company, Letter, Management, Audit, Indaba, Record

Based on interactions with the Board, information included in the Companys public filings and other publicly available information, Indaba believes this Books and Records request is critical to protect shareholders best interests.

Key Points: 
  • Based on interactions with the Board, information included in the Companys public filings and other publicly available information, Indaba believes this Books and Records request is critical to protect shareholders best interests.
  • As noted in our July 20, 2022, letter, Indaba has significant concerns regarding the independence of the directors and their apparent deference to conflicted insiders, particularly the Knowltons.
  • Accordingly, the Books and Records request will allow Indaba to investigate potential misconduct and assess individual directors independence, adherence to internal policies and performance of the Board and/or managements fiduciary duties.
  • We are committed to doing everything in our power and spending as much time as necessary in order to facilitate change atop Tabula Rasa.

Indaba Capital Issues Letter to Tabula Rasa’s Independent Directors Regarding the Urgent Need for Management Changes and a Board Refresh

Retrieved on: 
Wednesday, July 20, 2022
Asset Management, Professional Services, Finance, Sale, Erosion, Doctor of Science, Capital, PACE, Lead, Interlocking directorate, Cronyism, Cerberus Capital Management, Disclosure, Slater and Gordon Lawyers, Ownership, Annual general meeting, Board, Institutional Shareholder Services, Hill+Knowlton Strategies, NASDAQ, Rear, Policy, United Kingdom company law, Company, MD, MJ, Chair, Management, Security (finance), Bank, Public relations, Indaba, Doctor of Pharmacy, Shareholder

As you know, Indaba is Tabula Rasas largest shareholder and holds nearly five times the number of shares owned by the current Board.

Key Points: 
  • As you know, Indaba is Tabula Rasas largest shareholder and holds nearly five times the number of shares owned by the current Board.
  • In addition to keeping in place an ineffective husband-and-wife management team, you have tolerated a so-called Lead Independent Director with lengthy ties to the Knowltons.
  • Working with us to appoint to the Board at least two new and independent directors with governance credibility and relevant skillsets, including a principal of Indaba.
  • Forming a committee entirely comprised of truly independent directors to run a viable and well-disclosed review of strategic alternatives.

Benefitfocus Announces Appointment of New Director to its Board

Retrieved on: 
Tuesday, April 5, 2022
Company, NASDAQ, Chairperson, Risk, Virtus Investment Partners, Lazard, Growth, Board, GAAP, Culture, SEC, Investor relations, Privacy, Health, BNFT, Industry, Director, Goal, COVID-19, GLOBE, Mergers and acquisitions, Stanford University, Efficiency, Uncertainty, Insurance, Security (finance), Management, Indaba

Separately, Director Francis J. Pelzer V has decided to retire from his position on the Board, effective immediately.

Key Points: 
  • Separately, Director Francis J. Pelzer V has decided to retire from his position on the Board, effective immediately.
  • Following the addition of Mr. Lerner and the departure of Mr. Pelzer, the size of the Benefitfocus Board will remain at nine directors.
  • Independent Chair of the Benefitfocus Board, Doug Dennerline, said, We welcome Alex to our Board and look forward to his insights and perspectives as we continue to focus on maximizing stockholder value.
  • I look forward to working closely with management, the Board committees on which Im serving, and the full Board toward our shared goals of creating value for all Benefitfocus stockholders.