OneMove Capital Answers the Sylogist Board's Questions and Asks the One That Matters

• The most recent release (April 30, 2026) is a rebuttal from activist investor OneMove Capital to the Sylogist Board's formal letter dated April 28, 2026.
• OneMove reiterates its demand for four of seven board seats despite holding only approximately 15% ownership.
• The release urges shareholders to vote using OneMove's "GOLD PROXY CARD" before the May 7, 2026 deadline.
• OneMove denies intentions to acquire Sylogist or initiate a change of control, framing the campaign as a governance correction rather than an M&A play.
• The Board (via April 28 news) opposes this, citing concerns over transparency and potential conflicts regarding nominee Tyler Proud's history.
• This follows a series of escalating filings since February 2026, including OneMove's initial requisition and the filing of proxy circulars in mid-April.

• The April 30 news is a procedural step within an ongoing proxy contest that began months ago; it does not introduce fundamentally new information compared to the April 22 comprehensive plan release.
• However, the persistence of the conflict highlights deep governance fractures and management instability (Interim CEO since January 2026).
• The claim of "75% value destruction" by OneMove aligns with the stock price trajectory (down from ~$9.80 in July 2025 to ~$3.90 currently), validating shareholder concerns regarding performance.
• Financial results released March 19, 2026, show SaaS ARR growth (+9% YoY) but overall revenue decline (-5.1% YoY) and a net loss of $4.7M for FY2025. This mixed performance fuels the activist's argument without providing immediate resolution.
• The outcome of the May 12 meeting is binary: either management retains control (likely given PenderFund's 18% stake) or OneMove gains significant influence, creating uncertainty that suppresses valuation multiples.

• Company: Sylogist Ltd. provides software solutions primarily for public sector organizations (municipalities, education) and nonprofits in North America.
• Flagship Project/Strategy: Transformation from legacy on-premise/project-based revenue to a recurring SaaS model.
• Development Status: Transitioning project work to partners (e.g., RSM partnership announced March 2026). SaaS ARR is growing (+9% YoY), but total revenue is contracting as low-margin project services are shed.
• Market Position: Niche player in public sector software facing pressure from larger enterprise competitors and internal execution challenges.