What happens within Miranda's shareholders?

JEC Capital Partners, which together with JMB Capital, has around 10% of the shareholders, requests a change of direction for the company, demanding a renewal of the board of directors that has not incorporated new faces for five years.

According to the economic publication Canadian Business, one of the main American shareholders in Miranda Technologies, JEC Capital Partners, would be requesting changes in the company's management line.

Michael Torok, CEO of JEC Capital Partners, a fund based in Boston (USA), said this week that “the problem is in the boardroom,” adding that he supports the current management team in Miranda.

“We have to figure out where the company is going in three years and five years and what the vision and the future are,” he said.

"No one seems to know the answer to those questions. At some point in time the board will have to be revitalized to bring in a new perspective, new faces, new ideas, and a network of contacts," Torok said.

JEC Capital Partners, junto a JMB Capital Partners Master Fund, que cuenta con alrededor del 10% de las acciones en circulación de Miranda, ha solicitado una reunión especial para sustituir a cuatro directivos llegando a afirmar, según Canadian Business, que estarían a favor de poner en venta la compañía.

Al parecer, algunos accionistas estarían dispuestos a vender a la compañía de Montreal, mientras que otros quieren que se opere en diferentes circunstancias con un equipo más especializado en tecnología.

Miranda has been listed on the Toronto Stock Exchange since 2005 and, according to Torok, has lost $140 million in market capitalization since then, with a market capitalization of just under $209 million.