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November 27, 2012
15:19 EDTOTIVOn Track holder Ivy proposed the removal of three existing directors
On November 20, counsel for Mr. Ivy submitted to the Board of Directors of On Track Innovations a Notice of Meeting, Proxy Statement and Proxy Card for an Extraordinary General Meeting of the Shareholders to be held on December 27. The November Proxy Materials proposed to remove three existing directors and to elect eight (8) new directors nominated by Mr. Ivy. These proposals were virtually the same as the proposals submitted to On Track on October 19. Counsel requested that the Issuer file and mail the documents to the Issuer’s shareholders. In response, On Track's legal counsel indicated that, if Mr. Ivy would withdraw his request, the Board would agree to call the requested shareholder meeting to consider removal of the three existing directors and the election of Mr. Ivy’s nominees. Counsel for On Track and counsel for Mr. Ivy exchanged drafts of the form of proxy materials for a shareholder meeting to be scheduled for late December. On Nov. 21st, Mr. David P. Stone and Mr. Mark Green resigned from the Issuer’s board of directors.
News For OTIV From The Last 14 Days
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September 23, 2014
10:57 EDTOTIVOn Track Innovations and ABnote launch NFC mobile payment trial
Earlier today, ABnote and On Track Innovations announced they have launched a major NFC mobile electronic payment trial with one of the largest financial institutions in North America. The pilot program pairs oti's WAVE device with ABnote's secure provisioning and mobile wallet, and represents the first NFC deployment under a business and technical collaboration the companies formed last year. Shares of On Track Innovations are up almost 8%, or 23c, to $3.15 in late-morning trading.

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