OneMove Capital accused Sylogist Ltd.'s board of rejecting settlement overtures in their ongoing proxy contest, even after the activist investor signaled willingness to scale back its demands for board representation.

The investment firm said it offered to accept fewer independent director seats than originally sought, but the board refused to engage in meaningful negotiations. Proxy fights often see some compromise as both sides aim to avoid costly and contentious shareholder votes.

The breakdown suggests the dispute will proceed to a shareholder vote, potentially creating uncertainty for Sylogist's leadership and strategic direction. Investors will need to assess the competing visions for the company's future as the contest unfolds.