Research Solutions announces cooperation agreement with investor group

Research Solutions announced that it has entered into a cooperation agreement with Peter Derycz, Bristol Investment Fund, Ltd., Bristol Capital Advisors, LLC and Paul Kessler, which collectively own 5,921,930 shares of the company’s outstanding common stock. Under the terms of the Cooperation Agreement, Derycz’s employment will be terminated without cause, and he will resign from the company’s board of directors and all committees upon which he currently serves, and from any positions that he holds with the company and any of its subsidiaries. To fill the vacancy resulting from Dercyz’s departure, the company will appoint an independent director to the Board that is mutually agreed upon by the parties. Additionally, the Investor Group has agreed to withdraw its notice of intent to nominate director candidates for election at the company’s 2023 Annual Meeting of Shareholders and cease all solicitations of proxies and other activities in connection with the Annual Meeting. During the term of the Cooperation Agreement, the Investor Group has also agreed to customary standstill provisions and voting commitments. Further, the company and the Investor Group have each agreed to a mutual general release of claims with respect to the other party.