Chief Investment Officer and Founder of Kyma Capital to Be
Nominated as a New Independent Director for Election by
Shareholders at the Company's 2022 Annual Meeting of
Shareholders
Akshay Shah Brings 20+ Years
of Relevant Experience and Leadership Skills to the Board
Investor Group assumes standstill until the Annual Meeting of
Shareholders to be held in 2024
Annual Meeting of Shareholders Scheduled to Be Held on
29 June 2022
NEW
YORK, June 2, 2022 /PRNewswire/ --
Atento S.A. (NYSE: ATTO) ("Atento" or the "Company"), one of
the largest providers worldwide and the leading company in customer
relationship services and business process outsourcing (CRM / BPO)
in Latin America, today announced
the execution of a cooperation agreement (the "Agreement") with
Kyma Capital, Charles Frischer and
Asheef Lalani (the "Investors"), who beneficially own in the
aggregate approximately 8.5% of the Company's outstanding ordinary
shares. Pursuant to the Agreement, the Board of Directors of Atento
(the "Board") will nominate Akshay
Shah to stand for election as a new independent director at
the Company's 2022 Annual Meeting of Shareholders scheduled to be
held on 29 June, 2022.
"We look forward to welcoming Akshay to the Board," said Carlos
López-Abadía, CEO of Atento. "His exceptional track record and vast
experience will be an important asset to our Board as we look
ahead. Today's agreement is another example of Atento's pursuit of
having a strong independent board with the right mix of expertise
and skills to develop our strategic objectives, while supporting
the Board's goal of generating shareholder value."
Akshay Shah, Chief Investment
Officer of Kyma Capital, commented, "We are encouraged by the steps
the Company has been taking and I am delighted to have been
nominated to Atento's Board. We have been net buyers of Atento
stock and have built a meaningful position. We believe in Atento's
growth potential, market penetration and the capability to deliver
guidance during 2022. I am excited for this next chapter in
Atento's future and am personally committed to working with the
Board to explore all options in pursuit of driving maximum value
for shareholders."
The Investors have agreed to customary standstill, voting and
other provisions. The full Agreement will be filed on a Form 6-K
with the Securities and Exchange Commission.
About Atento
Atento is the largest provider of customer relationship
management and business process outsourcing ("CRM BPO") services in
Latin America, and among the top
providers globally. Atento is also a leading provider of
nearshoring CRM BPO services to companies that carry out their
activities in the United States.
Since 1999, the company has developed its business model in 14
countries where it employs approximately 150,000 people. Atento has
over 400 clients to whom it offers a wide range of CRM BPO services
through multiple channels. Atento's clients are mostly leading
multinational corporations in industries such as
telecommunications, banking and financial services, health, retail
and public administrations, among others. Atento's shares trade
under the symbol ATTO on the New York Stock Exchange (NYSE). In
2019, Atento was named one of the World's 25 Best Multinational
Workplaces and one of the Best Multinationals to Work for in
Latin America by Great Place to
Work®. Also, in 2021 Everest named Atento as a star performer.
Gartner named the company as a leader for two years in a row, since
2021 in the Gartner Magic Quadrant. For more information visit
www.atento.com
Media Relations
press@atento.com
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements can be identified by the use of words
such as "may," "should," "expects," "plans," "anticipates,"
"believes," "estimates," "predicts," "intends," "continue" or
similar terminology. In particular, these forward-looking
statements include those about the effects on Atento and its growth
of changes in the composition of the Board. These statements
reflect only Atento's current expectations and are not guarantees
of future performance or results. These statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those contained in the forward-looking statements.
Risks and uncertainties include, but are not limited to,
competition in Atento's highly competitive industries; increases in
the cost of voice and data services or significant interruptions in
these services; Atento's ability to keep pace with its clients'
needs for rapid technological change and systems availability; the
continued deployment and adoption of emerging technologies; the
loss, financial difficulties or bankruptcy of any key clients; the
effects of global economic trends on the businesses of Atento's
clients; the non-exclusive nature of Atento's client contracts and
the absence of revenue commitments; security and privacy breaches
of the systems Atento uses to protect personal data; the cost of
pending and future litigation; the cost of defending Atento against
intellectual property infringement claims; extensive regulation
affecting many of Atento's businesses; Atento's ability to protect
its proprietary information or technology; service interruptions to
Atento's data and operation centers; Atento's ability to retain key
personnel and attract a sufficient number of qualified employees;
increases in labor costs and turnover rates; the political,
economic and other conditions in the countries where Atento
operates; changes in foreign exchange rates; Atento's ability to
complete future acquisitions and integrate or achieve the
objectives of its recent and future acquisitions; future
impairments of our substantial goodwill, intangible assets, or
other long-lived assets; Atento's ability to recover consumer
receivables on behalf of its clients; and the on-going COVID-19
pandemic. Atento is also subject to other risk factors described in
documents filed by the company with the United States Securities
and Exchange Commission. These forward-looking statements speak
only as of the date on which the statements were made. Atento
undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Atento S.A.