ISS Recommends Allied Gaming Shareholders Vote for Knighted Nominees to Improve Operational Performance and Corporate Governance.

ISS recommends Allied Gaming shareholders vote for Knighted's Class B nominees - Roy Choi, Walter Delph, and Jennifer van Dijk - at the upcoming annual meeting. ISS concludes that Knighted presented a "focused critique" supporting a case for change, and raises concerns about the independence of Allied Gaming's incumbent board. ISS highlights issues with the company's operational performance, corporate governance, and "unfocused strategy."

Allied Gaming & Entertainment Inc. (NASDAQ: AGAE) faces a significant push for boardroom change as Institutional Shareholder Services Inc. (ISS) has recommended that shareholders vote for the election of Knighted's Class B director candidates, including Roy Choi, Walter Delph, and Jennifer van Dijk, at the upcoming combined 2024 and 2025 Annual Meeting of Stockholders [1] [2].

Knighted Pastures, LLC, which owns approximately 31.5% of the outstanding shares of Allied Gaming, has been vocal about the need for change, citing financial and operational underperformance, lack of strategic focus, and concerns regarding corporate governance and board independence. ISS's recommendation aligns with Knighted's critique, highlighting the need for a more transparent and effective board [1] [2].

ISS noted several key issues with Allied Gaming's performance. The company has faced consistent losses since 2019, with slow revenue growth and a lack of clarity in its capital allocation decisions. Additionally, the company's operational performance has been a concern, with persistent losses despite these challenges [1] [2].

Knighted's nominees aim to address these issues by restoring accountability in the boardroom and implementing a coherent strategic vision. The dissident group's focus on independent directors is particularly notable, with ISS recommending the addition of an independent director unaffiliated with the company's largest shareholder, Ourgame [1] [2].

The upcoming annual meeting will be a critical moment for Allied Gaming shareholders to decide the future of the company's board. Knighted's nominees, backed by ISS's recommendation, seek to bring fresh perspectives and strategic focus to the table. The vote will determine whether Allied Gaming can move forward with a new direction under the guidance of independent and focused board members.

References:
1. [https://finance.yahoo.com/news/iss-recommends-allied-gaming-stockholders-164000905.html](https://finance.yahoo.com/news/iss-recommends-allied-gaming-stockholders-164000905.html)
2. [https://www.marketscreener.com/news/iss-recommends-allied-gaming-stockholders-vote-knighteda-s-blue-proxy-card-ce7c5fdbdd8cfe26](https://www.marketscreener.com/news/iss-recommends-allied-gaming-stockholders-vote-knighteda-s-blue-proxy-card-ce7c5fdbdd8cfe26)