Sheridan, Wyoming, April 07, 2021 (GLOBE NEWSWIRE) -- Appliqate (OTC: APQT), a Wyoming Corporation, has announced a strategy for board diversity and inclusion in light of the recent Nasdaq Stock Market LLC (Nasdaq) proposal with the Securities and Exchange Commission (SEC) to adopt listing rules that would enhance board diversity and transparency among companies listed on its exchange. The new rules require Nasdaq-listed companies to have, or explain why they do not have, at least two “Diverse” members of their boards of directors; and publicly disclose diversity statistics regarding their boards of directors in their proxy statement or information statement filings, or alternatively on their websites.
A McKinsey study found that diverse companies have 19% higher revenue than less diverse counterparts, and gender diverse executive teams outperform male-dominated companies by 21% in terms of EBIT. As Appliqate continues to roll out the aggressive acquisition strategy announced in March, diversity and inclusion will be a key tenant when evaluating their acquisition targets.
Led by its Founder and CEO, Ms. Una Taylor, a black woman of African descent, Appliqate represents a very small percentage of public companies with a black female at the helm. Additionally, in the U.S., of the 3,671 public companies reported by The Wall Street Journal in 2017, only eight were Black-owned companies which equates to 0.002% of public companies. “Appliqate will continue to focus on inclusion and diversity because it’s good for our shareholders, but more importantly, it aligns with the company’s culture,” said Ms. Taylor.
Ms. Taylor is preceded by very few black women in publicly traded companies. Catherine Liggins Hughes, an African American entrepreneur, radio and television personality, and business executive, founded the media company Radio One. In 1987, Radio One added an FM station to its roster—WMMJ, in Washington, D.C. Twelve years later, in 1999, Radio One sold its first shares of common stock, making Hughes the first African American woman to head a publicly traded company. Appliqate’s leadership team values and honors Ms. Liggins Hughes and others who have paved the very narrow path taken by Ms. Taylor.
Appliqate has always sought to comprise its Board with diversity; however, the Company has historically placed equal emphasis on the following factors: background and specifically targeted industry experience, and most importantly, creating an atmosphere of open and trusted communication. A recent Harvard Study cited, in support of Appliqate’s Board priorities, that “to make diverse boards more effective, boards need to have a more egalitarian culture — one that elevates different voices, integrates contrasting insights and welcomes conversations about diversity.”
Appliqate looks forward to a bright future that will continue to promote and comprise a diverse Board with members that value open communication. A diverse and egalitarian Board will maximize effectiveness by doing more to ensure that different perspectives are regularly elicited and integrated into the board’s decision-making process, which will always be focused on maximizing the value to its shareholders.
Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, founder of Pivotal Ventures, stated in a Times article, “We are right to be outraged. But we’re also right to be optimistic. Americans are no longer willing to accept the glacial pace of change—and I feel lucky to be alive at a time when we no longer have to”. She went on to say she will be committing $1 billion to expand women’s power and influence in the United States over the next ten years.
In conjunction with the company’s acquisition strategy for hybrid events and event technology, Ms. Taylor will be attending the Society for Independent Show Organizer’s (SISO) annual CEO Summit taking place April 12-15th in Amelia Island, FL. She will be participating in the SISO Executive Women’s Forum. Ms. Taylor said, "The SISO CEO Summit is attended by company owners, CEOs, and presidents who are charged with creating the strategies used to map out the future for the trade show Industry. This will be a perfect opportunity to share information about Appliqate’s latest tech and event acquisition strategy while networking with executives in an environment conducive to bringing together the Industry's best."
About Appliqate Inc: Appliqate Inc is a publicly traded technology development firm that provides businesses, executives and investors access to capital and innovative solutions by utilizing platforms and business models to disrupt industry sectors. With an emphasis on media, blockchain, live entertainment, and intellectual property, the company accelerates the growth of tech solutions in these markets. Our management team represents a unique combination of technology development, operating, investing, financial and transactional expertise.
Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Current Reports on Form 8-K and the Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For more information contact:
Contact:
Una Taylor: Una@Appliqate.com
Inquires: Investorrelations@appliqate.com
305-507-3335 | www.appliqate.com
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