Press Release
Calian® Group Ltd. , a mission-critical solutions company focused on defence, space, healthcare and other strategic critical infrastructure sectors, announces that it is accelerating its ongoing board renewal process and established a temporary board committee to oversee execution of actions related to certain non-core assets, following a co-operation agreement with Plantro Ltd., one of the Company’s largest shareholders.
“Today’s changes are important next steps in advancing Calian’s refined strategy, and we appreciate Plantro’s constructive engagement,” said George Weber, Chair of Calian’s Board of Directors. He continued, “These changes underscore the shared commitment of the Board and management team on executing on that strategy while also reflecting the valuable input we have received from a number of Calian’s shareholders in recent months.”
“We are pleased that Calian’s board and management team have heard our concerns and recommendations, and that they are taking concrete steps to position the Company on stronger footing for future growth,” said Plantro principal Matthew Proud. “With historic defence-spending tailwinds ahead, we believe these steps will help unlock value for Calian’s shareholders and allow management to focus on executing on the opportunity ahead.”
Acceleration of Ongoing Board Renewal Process
To accelerate its ongoing board renewal process, George Weber and Kevin Ford will retire from the board as previously announced. In addition, Jo-Anne Poirier has advised the board that she will not stand for re-election at the next annual meeting.
As part of this board renewal process, which began with the addition of Lisa Greatrix, Josh Blair, and Eric Demirian to the Board earlier this year, Calian confirmed that incoming CEO Patrick Houston will join the board following his formal appointment on January 1, 2026. Calian also announces that it is actively searching for additional highly-qualified candidates to help guide the Company as it seeks to capitalize on the significant strategic opportunities the Company has identified in the defence and related sectors. A professional search firm has been engaged to assist it in the identification and assessment of these potential director candidates.
Enhancing Focus on Non-Core Asset Divestitures
As part of its previously announced portfolio review, the Company has identified certain non-core assets for disposition. As a part of the agreement with Plantro described below, Calian announces the formation of a temporary committee of independent directors with relevant expertise who will act as a resource for management and facilitate active board oversight of these initiatives. The committee members are Josh Blair, Eric Demirian and Val Sorbie. Stephen Halperin, a highly respected M&A lawyer with extensive experience as a public company director recommended by Plantro, has been engaged to act as a special advisor to the committee.
Co-Operation Agreement
Calian also announced that it has entered into a co-operation agreement with Plantro. The agreement includes, among other terms, the Company’s commitment to accelerate its ongoing board renewal and to create the committee of independent directors described above. It also includes customary standstill and non-disparagement provisions effective until November 1, 2026. This agreement reflects Calian’s commitment to constructive engagement and meaningful dialogue with its shareholders.
