Knighted Pastures, LLC, a significant stockholder of Allied Gaming & Entertainment Inc. (AGAE) with approximately 27.2% ownership, announced its nomination of a majority slate of director candidates for election to the company's Board of Directors. The nominations are for the combined 2024 and 2025 annual meeting of stockholders, scheduled for August 4, 2025.
Knighted's nominees include Peter Chun, Howard Donaldson, and Adam Rymer for Class C seats, and Roy Choi, Walter Ivey Delph III, and Jennifer van Dijk for Class B seats. In addition to these nominations, Knighted also included a business proposal to remove, for cause, Yangyang Li, the current Chairman of the Board.
Knighted Pastures stated that the current Board has failed its stockholders, citing dilutive transactions, lack of transparency, and failure to timely file financial disclosures. This move signals a full-scale proxy contest, aiming to reconstitute the board and implement significant changes in the company's leadership and strategic direction.
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