Daventry Group Sends Letter to the Board of Directors of Kinaxis Regarding the Urgent Need to Explore a Sale of the Company

Kinaxis is a Best-In-Class Software Asset in a Strategically Important Category, but has been Plagued by Years of Poor Execution and Mismanagement Under the Current Board's Supervision

Numerous Financial Sponsors and Strategic Buyers Could have Strong Interest in Acquiring Kinaxis Given its Market-Leading Position in Supply Chain Planning

Recent Abrupt Departures of Kinaxis's Chief Executive Officer and Chief Sales Officer Necessitate an Immediate Sale Process to Maximize Shareholder Returns While Minimizing Significant Execution Risks

NEW YORK, Sept. 9, 2024 /PRNewswire/ -- Daventry Group, LP ("Daventry"), which together with its affiliates beneficially owns or controls approximately 1.4% of the outstanding stock of Kinaxis Inc. (TSE:KXS) ("Kinaxis" or the "Company"), today sent a letter to the Company's Board of Directors (the "Board") highlighting the urgent need for the Board to explore a sale of the Company to maximize shareholder returns and minimize execution risk following the abrupt departures of its Chief Executive Officer John Sicard and Chief Sales Officer Claire Rychlewski. The letter outlines the years of self-inflicted execution problems and mismanagement that have plagued the Company under the stewardship of the current Board of Directors which has led to material underperformance relative to peers despite Kinaxis's strong competitive position and healthy end market.

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The full letter can be accessed here.

About Daventry Group LP
Daventry Group manages a concentrated small-and-mid cap public equity investment strategy that seeks to drive value through its collaborative engagements with management teams. 

Contacts:
Media:
Jonathan Gasthalter / Iain Hughes
Gasthalter & Co.
(212) 257-4170

Disclaimer
Except as otherwise set forth herein, the views expressed herein reflect the opinions of Daventry and are based on publicly available information with respect to the Company. Daventry recognizes that there may be information in the possession of the Company that could lead it or others to disagree with Daventry's conclusions. Daventry reserves the right to change any of its opinions expressed herein at any time as it deems appropriate and disclaims any obligation to notify the market or any other party of any such change, except as required by law. For the avoidance of doubt, this press release is not affiliated with or endorsed by the Company.

This press release and the discussions and opinions herein are for general information only, and are not intended to be, nor should they be construed as, an offer to sell or a solicitation of an offer to buy any security, a recommendation to purchase or sell any security, or legal, financial, tax, investment, or other advice. Funds managed by Daventry currently beneficially own shares of the Company. These funds are in the business of trading (i.e., buying and selling) securities and intend to continue trading in the securities of the Company. You should assume such funds may from time to time sell all or a portion of their holdings of the Company in open market transactions or otherwise, buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls, swaps or other derivative instruments relating to such shares, subject to applicable law. Consequently, Daventry's beneficial ownership of shares of, and/or economic interest in, the Company may vary over time depending on various factors, with or without regard to Daventry's views of the Company's business, prospects, or valuation (including the market price of the Company's shares).

This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. These forward-looking statements may include, without limitation, statements regarding Daventry's engagement with the Company. Although Daventry believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties—many of which are difficult to predict and are generally beyond the control of Daventry—that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. The forward-looking statements speak only as of the date hereof and, other than as required by applicable law, Daventry does not undertake any obligation to update or revise any forward-looking information or statements. Certain information included in this material is based on data obtained from sources considered to be reliable. Any analyses or assumptions provided to assist the recipient of this material in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses or assumptions should also not be viewed as factual and also should not be relied upon as an accurate prediction of future results. All figures are unaudited estimates and, unless required by law, are subject to revision without notice.

SOURCE Daventry Group, LP