Articles from Browning West, LP

Believes Recruitment of a Proven CEO with Verifiable Track Record of Value Creation is Critical to Unlocking CAE’s Long-Term Potential

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.7% of the Company’s outstanding shares, today announced that its eight-member slate of directors – Michael Kneeland, Glenn J. Chamandy, Michener Chandlee, Ghislain Houle, Mélanie Kau, Peter Lee, Karen Stuckey, and J.P. Towner – will constitute the entirety of the Company’s Board of Directors (the “Board”) and will be the only director candidates to stand for election at Gildan’s 2024 Annual Meeting of Shareholders (the “Annual Meeting”). This follows the resignations of the entire incumbent Board and the termination of executives, including CEO Vince Tyra. Notably, preliminary results indicate that an overwhelming majority of shares have been voted in support of Browning West’s full eight-member slate prior to the Board’s resignation.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today announced that a second independent proxy advisory firm, Glass, Lewis & Co. (“Glass Lewis”), has joined Institutional Shareholder Services Inc. (“ISS”) in recommending that Gildan shareholders vote to elect all eight of Browning West’s highly qualified director candidates on the GOLD Proxy Card at the upcoming Annual Meeting of Shareholders (the “Annual Meeting”) on May 28, 2024.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today announced that Institutional Shareholder Services Inc. (“ISS”), a leading independent proxy advisory firm, has recommended that Gildan shareholders vote to elect all eight of Browning West’s highly qualified director candidates on the GOLD Proxy Card at the upcoming Annual Meeting of Shareholders (the “Annual Meeting”) on May 28, 2024. Notably, ISS recommended shareholders WITHHOLD support for all 10 of Gildan’s nominees: Timothy Hodgson, Lewis L. Bird, III, Dhaval Buch, Marc Caira, Jane Craighead, Sharon Driscoll, Lynn Loewen, Anne Martin-Vachon, current CEO Vince Tyra, and Les Viner.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today announced that the two meritless lawsuits brought by Gildan’s Board of Directors (the “Board”) against Browning West have been dismissed:

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today issued a presentation regarding the urgent need for superior leaders with a plan to supercharge returns for Gildan shareholders. The presentation is available for download here.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today announced that it has filed an amended and restated information circular (the “Circular”) in connection with the upcoming Annual and Special Meeting of Shareholders (the “Annual Meeting”) to be held on May 28, 2024. In addition, Browning West sent a letter to its fellow shareholders regarding the opportunity to elect superior leaders and supercharge returns, which is available for download here.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) that beneficially owns approximately 5.0% of the Company’s outstanding shares and Glenn Chamandy, Gildan’s co-founder and former CEO, today issued the following statements regarding the Company’s defensive maneuver to add replacement directors to its Board of Directors (the “Board”).

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today issued the following statement regarding the Company’s April 15th investor update.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today announced that its slate of director candidates released a presentation detailing its five-pillar plan to increase Gildan’s share price to more than $60 USD by the end of 2025 and more than $100 USD within the next five years. Browning West’s slate is releasing its operating plan now so that shareholders can understand the Company’s strong standalone prospects under our slate’s leadership relative to an outcome that likely undervalues the Company under the current Board of Directors’ reactionary sale process.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today issued the below statement regarding Gildan’s confirmation that it has initiated a sale process.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today issued the below statement regarding the Company’s apparent decision to leak a meritless letter it sent to a U.S. regulator to a Canadian news outlet.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today issued the below statement.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, has filed a lawsuit today with the Superior Court of Quebec – Commercial Division (the “Quebec Superior Court”) against Gildan and the Company’s Board of Directors (the “Board”) in order to ensure the rights of shareholders are preserved in connection with the May 28th, 2024 Annual Meeting of Shareholders (the “Annual Meeting”).

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today urged the Company’s Board of Directors (the “Board”) to promptly answer questions regarding its apparent diligence failures during the process that led to Vincent Tyra’s appointment as Chief Executive Officer (“CEO”).

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today announced that, after careful consideration, it has decided to nominate a slate of eight highly qualified candidates for election to the Board of Directors (the “Board”) at the Company’s annual meeting of shareholders (the “Annual Meeting”) scheduled for May 28, 2024, rather than via a special meeting of shareholders (the “Special Meeting”).

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today responded to the Company’s announcement that its Board of Directors (the “Board”) has “called” a so-called annual and special meeting of shareholders (the “Meeting”) to be held on May 28, 2024, while also seeking to cancel the special meeting of shareholders (the “Special Meeting”). This follows Browning West submitting a valid requisition for the Special Meeting and requesting the Board set a date in March 2024.

Browning West, LP (together with its affiliates, “Browning West” or “we”), which is a long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”) and beneficially owns approximately 5.0% of the Company’s outstanding shares, today issued an open letter to fellow shareholders in response to the Board of Directors’ (the “Board”) attempt to invalidate Browning West’s valid requisition for a Special Meeting of Shareholders (the “Special Meeting”).

Browning West, LP (together with its affiliates, “Browning West” or “we”) is a significant, long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”), beneficially owning approximately 5.0% of the Company’s outstanding shares.

Browning West, LP (together with its affiliates, “Browning West” or “we”) is a significant, long-term shareholder of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”), beneficially owning approximately 5.0% of the Company’s outstanding shares.

Browning West, LP, which beneficially owns approximately 4.8% of the outstanding shares of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL) (“Gildan” or the “Company”), today issued the following letter to the Company’s Board of Directors (the “Board”).

Browning West, LP ("Browning West" or “we”), which beneficially owns approximately 3.9% of the outstanding shares of Gildan Activewear Inc. (NYSEGIL) (TSX: GIL), today issued the following letter to the Company’s Board of Directors.

Browning West, LP ("Browning West" or “we”), which beneficially owns approximately 15.3% of the outstanding shares of Countryside Partnerships plc ("Countryside" or the “Company”), today issued the following statement in support of the recently announced business combination between Countryside and Vistry Group plc ("Vistry").