An Easy Decision For The Directors – The AGM Agenda

This week, LKMForward delivered to the directors of Link Motion a letter outlining specific resolutions to be included at the upcoming annual general meeting (“AGM”).  There is no way for a director to justify, or avoid personal liabilities for not allowing such resolutions to be included at the upcoming AGM.  We have attached the complete letter delivered to the directors so that everyone can read the entire details.  As formal agenda items at the upcoming AGM, these resolutions would have the opportunity to be fairly and properly voted on in accordance with all established procedures.  Each resolution is centered on doing what is necessary so that the Company can regain compliance with the NYSE and regulators and be in position to recover and achieve its potential.  The upcoming AGM is the most expeditious opportunity for the Board and Company to make the necessary changes to regain compliance and recover.  We look forward to the directors doing the right thing and ensuring these items are addressed expeditiously.

Related to the urgency of the above-mentioned matters, we have reached a critical stage in the future of Link Motion and wish to direct these comments to the directors of the board candidly. As indicated in the attached letter from our legal counsel to all Board members, there are many unanswered questions regarding recent activities at Link Motion. It is clear that if these activities are allowed to continue unabated, it is unlikely the Company will have a future either as a listed company on the NYSE or as a going concern.

When you assume the role as a director of a public company, you assume great responsibility to all its shareholders. With the AGM looming in December, the time to exercise your best judgement and act responsibly for all shareholders’ interests is upon the Board. Business as usual, or business as unusual, as is the case with Link Motion, can no longer continue. The failure to run the business as a going concern, the failure to reach reasonable accord with debtors, the failure to protect corporate assets from actual or potential misappropriation and the failure to enforce basic rules of corporate governance and internal controls can lead to only one outcome: The failure of the company and complete loss for all but a few select stakeholders.

LKMForward can and will continue to advocate on behalf of all shareholders, but only you can set an agenda for Link Motion that will prevent financial disaster for 99% of shareholders. We have provided you with the template for that agenda. You must now act and act quickly to save the Company, its assets and its shareholder’s equity.

We have intentionally deferred litigation against the Company and its directors to give all parties the chance to restore the Company on a path to future prosperity. In making this decision, we believe a path of cooperation with the Board offered and offers the best chance to rectify the Company’s current dire predicament with the least damage to shareholders. However, we are not naïve when it comes to our legal options, nor can we have infinite patience while the fate of the Company hangs in the balance. Consequently, we call upon each member of the Board to take immediate action to establish a date for the Annual General Meeting with an agenda that restores the Company to legal and financial compliance and best practices as regards corporate governance.


AGM Letter 11.28.18

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