Redknee Solutions Inc. (TSX: RKN) has announced that the company was informed that Lucas Skoczkowski, former CEO and currently a board member of the company, disposed of 2,150,000 Redknee common shares on February 21, 2017.
Redknee said its senior management team and board were in a “blackout” period pending the approval and announcement of strategic plan details and were not permitted to sell or buy Redknee shares during this period.
Redknee Solutions said it is evaluating the matter and is discussing the matter with the OSC and TSX, and intends to fully cooperate as required.
As at December 23, 2016, Skoczkowski owned 8,932,965 Redknee shares, 2,846,487 options and 339,604 performance share units.
On February 15, 2017, following its US $83.2 million control investment in Redknee, ESW Capital, LLC relived Skoczkowski as CEO and replaced him with Danielle Royston as interim CEO.
On February 23, 2016, Redknee said its board has approved a new strategic plan intended to create a strong platform for long-term growth, simplified operations, and sustained profitability.
Redknee intends to create two major operating units: “Strategic Global Accounts” will focus on communication service providers (CSP’s) for whom the Company provides significant, mission critical software and services solutions; and “Packaged and Cloud Solutions” will focus on pre-integrated telecom software solutions, delivered on premise and from the cloud. The company intends to wind down non-telecom operations outside the scope of these two operating units.
The restructuring is expected to be completed in 2018.
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photo credit: Redknee