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Pineapple Financial Inc. (NYSE American: PAPL), a finance services company currently trading at $0.35 per share with a market capitalization of $3.26 million, held its 2025 Annual Meeting of Stockholders on Thursday, where shareholders voted on key company matters, including the election of directors and the ratification of the company’s independent auditor. According to InvestingPro analysis, the company’s stock has declined over 73% in the past year, reflecting significant challenges in the market.
At the meeting, shareholders elected five directors to the company’s board. Each director will serve until their successor is elected and qualified, or until their earlier resignation or removal. The elected directors are Shubha Dasgupta, Kendall Marin, Drew Green, Paul Baron, and Tasis Giannoukakis. Votes for the election ranged from 1,788,381 to 1,794,181, while votes against each director ranged from 34,633 to 40,433. InvestingPro data reveals the company faces significant financial challenges, with a Weak overall financial health score and negative EBITDA of $3.37 million in the last twelve months.
In addition to the election of directors, shareholders ratified the appointment of MNP LLP as the independent registered public accounting firm for Pineapple Financial for the fiscal year ending August 31, 2025. The proposal received significant support, with 2,204,724 votes for, 36,145 against, and 314 abstaining.
The results of the vote indicate continued shareholder confidence in both the board’s composition and the company’s choice of auditor. The company, headquartered at 111 Gordon Baker Road, Suite 200, North York, Ontario, operates under the leadership of CEO Shubha Dasgupta, who is also one of the re-elected board members.
The meeting and its outcomes are expected to guide Pineapple Financial’s strategic direction and governance as it navigates the financial services industry in the upcoming year. The information provided in this article is based on the company’s recent SEC filing.
In other recent news, Pineapple Financial Inc. announced the departure of its Chief Strategy Officer, Christa Mitchell, effective March 7, 2025. The company confirmed that Mitchell’s resignation was amicable and not due to any disagreements with the company’s operations, policies, or practices. Pineapple Financial has yet to name a successor or outline a transition plan following Mitchell’s exit. This development occurs during a period of heightened scrutiny for financial services firms, with market participants and regulators closely monitoring executive movements and corporate governance. The company has not disclosed further details regarding the reasons for Mitchell’s departure or its potential impact on strategic direction. Investors and industry observers are keen to see how Pineapple Financial will handle this transition. As of now, no additional comments have been made by the company regarding this executive change.
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