Paragon Technologies terminates discussions with AeroCentury (ACY)

M. Cap: $3.6mm | Aerocentury Corp is engaged in the business of investing in used regional aircraft equipment and leasing the equipment to foreign and domestic regional air carriers.

On May 1, 2020, the company announced that the annual meeting will be held on June 9, 2020. Source

On May 28, 2020, Paragon Technologies has called on the company to delay its 2020 annual meeting to give shareholders the full and fair opportunity to nominate director candidates for election to the board of directors. Source

On June 3, 2020, the Board of Directors of the Company resolved to postpone the Company’s 2020 Annual Meeting of Stockholders. The Company will announce the Annual Meeting's revised date, time, and record date once a final decision on these has been made. Source

On June 24, 2020, Paragon Technologies stated that it is pleased to report that the company has announced it will postpone its 2020 annual meeting originally scheduled for June 9, 2020 to the new date of September 15, 2020. Also, Paragon Technologies stated that it looks forward to a constructive dialogue towards appointing its director nominees. Source

On September 25, 2020, Paragon Technologies stated that it has  terminated its ongoing discussions with the Board regarding the appointment of Paragon’s nominees to the Board of ACY. In its press release, Paragon cited grave concerns with Aerocentury’s operations and board’s disingenuous negotiations. Source