SMART Technologies Drops 7% After Founding Directors Resign

SMART Technologies (SMT) declined after Chairman David Martin and Director Nancy Knowlton, the company’s founders, resigned their board seats, effective April 17.

In Martin’s place, three-year board member Robert Hagerty has been appointed Acting Chairman.

As outlined in the interactive technology company’s articles following these resignations, all of the issued and outstanding multiple voting right Class B shares have automatically converted into single vote Class A Subordinate Voting Shares.

Calgary-based SMT is down 7.8% to $4.12 per share and SMA.TO is down 6.9% to $4.57 per share.

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