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Ides Capital urges Boingo Wireless to expand board


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Ides Capital urges Boingo Wireless to expand board

Boingo WirelessInc.'s board received a letter urging the company to improve its corporategovernance and expand the number of board seats.

The letter, originally sent April 5 by Ides Capital ManagementLP affiliates, who are shareholders, was publicly released and reflects the firm'sconcern over the board and company's future.

Ides urged the company to expand its board to seven members andallow shareholders to vote on these directors at the 2016 annual meeting, accordingto an April 8 news release. Ides Capital also urged the company to take steps toimprove corporate governance, including de-staggering the board, separating CEO/chairmanroles and pursuing greater diversity among directors.

In late March, Ides Capital affiliates nominated two independent candidates for election to thecompany's board.

Meanwhile, Boingo Wireless said in a same-day statement thatit requested on several occasions that Ides Capital facilitate interviews betweenits director nominees and the company's board but Ides Capital has refused and insteaddemanded that the company appoints its nominees without interviewing them.

Boingo Wireless said "it is open to continued dialogue withIdes Capital and still welcome the opportunity to interview its nominees, in orderto avoid a potentially costly and distracting proxy contest."