Atento S.A., 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.
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“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.
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