Information Strategy and Technology's board has set October 9, 2026 as the record date for an extraordinary shareholder meeting with a single agenda item: dismissing one director. The move follows a special investigation committee of three independent outside lawyers, formed September 3, 2026 to examine misconduct allegations against the director, which delivered its report on September 17.
The board's dismissal case rests on five findings from that report. The central one covers roughly three years, from around January 2023 to December 2025, during which marketing work that subsidiary WhiteBox had outsourced went to a company the filing identifies only as "Company A", where the director could manage and dispose of company assets at his own discretion. The board says there are doubts about whether that work was actually performed and whether deliverables existed. In December 2023, the director is alleged to have concealed his intent to have that work re-subcontracted to Company A by first routing it through an acquaintance's company.
The remaining findings: while holding an executive-officer post, the director did outside work barred by company rules; he disclosed confidential company information to a third-party acquaintance without authorization; and around April 2026 he solicited employees to leave. Information Strategy and Technology says these five points are only part of what the report flagged, that additional allegations were made, and that it plans further investigation into the substance of the transactions involved.
WhiteBox itself moved faster than its parent. The subsidiary's own shareholders voted on September 18, the same day as the disclosure, to remove the director as WhiteBox's representative director. The parent company's shareholder vote on dismissing him as a director of Information Strategy and Technology has not yet happened. The extraordinary meeting's date and venue are still to be fixed. The company plans to give electronic public notice of the record date on its website by September 25, 2026.