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Boingo Wireless Confirms Receipt of Director NominationsBoingo Wireless (News - Alert) (NASDAQ: WIFI) (the "Company"), the leading distributed antenna system (DAS) and Wi-Fi provider that serves consumers, carriers and advertisers worldwide, today confirmed that affiliates of Ides Capital Management LP ("Ides Capital"), which, according to information provided by Ides Capital, beneficially own 104,927 shares, or approximately 0.3% of the outstanding shares of Boingo, have submitted to the Company a notice of nomination of two director candidates for election to the Boingo Wireless Board of Directors at the Company's 2016 Annual Meeting of Stockholders ("2016 Annual Meeting"). Boingo issued the following statement: We are disappointed that Ides Capital has decided to publicly announce its nomination of directors, especially in light of our ongoing dialogue and repeated requests to interview its nominees in accordance with our nominating process. We regularly engage with our stockholders and seek to maintain an open dialogue with the investment community towards the goal of enhancing Boingo's value. Our Board has been steadfast in its commitment to driving value for Boingo stockholders and will continue to take actions to achieve this important objective. We are executing on our strategic initiatives, which seek to capitalize on mobile data explosion and broader network densification trends. We are focused on the acquisition of long-term contracts to efficiently build and monetize our wireless networks at large-scale venues worldwide. Specifically, our Board and management team are focused on profitable growth and delivering value to stockholders as evidenced by:
Our Board is comprised of six highly qualified directors, five of whom are independent and all of whom are actively engaged in overseeing the Company's growth and success. All of our Independent Directors, including our Lead Independent Director, are new since 2011, with an average tenure of fewer than three years. Consistent with our Board's commitment to acting in the best interests of stockholders and enhancing stockholder value, our Board is always looking to consider candidates with skills and experience that could strengthen the overall composition of our Board. Our Board and management team remain committed to improving profitability and driving value for all stockholders and will continue to assess opportunities to achieve these important objectives. After our Board completes its nominating process, it will present its recommendation regarding director nominees in the Company's proxy statement, which will be filed with the U.S. Securities and Exchange Commission and mailed to all stockholders eligible to vote at the 2016 Annual Meeting. The date of the 2016 Annual Meeting has not yet been announced. Boingo Wireless stockholders are not required to take any action at this time. Cautionary Statement Regarding Forward-Looking Statements
About Boingo Wireless Boingo Wireless, Inc. (NASDAQ: WIFI) helps the world stay connected. Our vast footprint of small cell networks covers more than a million DAS and Wi-Fi locations and reaches more than 1 billion consumers annually - in places as varied as airports, stadiums, universities, and military bases. For more information about the Boingo story, visit www.boingo.com. Boingo, Boingo Wireless, the Boingo Wireless Logo and Don't Just Go. Boingo. are registered trademarks of Boingo Wireless, Inc. Important Additional Information And Where To Find It Boingo, its directors and certain of its executive officers are deemed to be participants in the solicitation of proxies from the Company's stockholders in connection with the matters to be considered at the Company's 2016 Annual Meeting of Stockholders. Information regarding the names of the Company's directors and executive officers and their respective interests in the Company by security holdings or otherwise can be found in the Company's proxy statement for its 2015 Annual Meeting of Stockholders, filed with the SEC on April 22, 2015. To the extent holdings of the Company's securities have changed since the amounts set forth in the Company's proxy statement for the 2015 Annual Meeting of Stockholders, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 or Annual Statement of Changes in Beneficial Ownership of Securities on Form 5 filed with the SEC. These documents are available free of charge at the SEC's website at www.sec.gov. Boingo intends to file a proxy statement and accompanying WHITE proxy card with the SEC in connection with the solicitation of proxies from Boingo stockholders in connection with the matters to be considered at the Company's 2016 Annual Meeting of Stockholders. Additional information regarding the identity of participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Company's proxy statement for its 2016 Annual Meeting, including the schedules and appendices thereto. INVESTORS AND STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ ANY SUCH PROXY STATEMENT AND THE ACCOMPANYING WHITE PROXY CARD AND OTHER DOCUMENTS FILED BY BOINGO WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders will be able to obtain the Proxy Statement, any amendments or supplements to the Proxy Statement, the accompanying WHITE proxy card, and other documents filed by Boingo with the SEC for no charge at the SEC's website at www.sec.gov. Copies will also be available at no charge at the Investor Relations section of the Company's corporate website at www.boingo.com, by writing to the Company's Corporate Secretary at Boingo Wireless, 10960 Wilshire Blvd., 23rd Floor, Los Angeles, California 90024, or by calling the Company's Corporate Secretary at (310) 586-5180. View source version on businesswire.com: http://www.businesswire.com/news/home/20160324006235/en/ |