OTTAWA (dpa-AFX) - Anson Funds Management LP and Anson Advisors Inc., the
co-investment advisers of certain investment funds and significant shareholders
of Gildan Activewear Inc. (GIL), said it disagreed with the apparel manufacturer
board's decision to remove Glenn Chamandy as chief executive officer given his
strong track record of value creation, and is calling for his immediate
reinstatement and the implementation of a formal succession planning process
including the engagement of company shareholders.

Anson Funds noted that the board's mishandling of the succession planning
process to date and its actions thereafter have resulted in an incredibly
value-destructive distraction that must be immediately addressed.

Anson Funds said it is further troubled by the Board's decision to strike a
backroom deal granting an individual shareholder a board seat in exchange for
their support before engaging with other investors to discuss the company's
approach to succession planning. Instead, company shareholders had to read about
the Board's views on Chamandy in press reports, which Anson has since learned
are false accusations.

Specifically, the Board's commentary regarding M&A appears designed to
perpetuate this distraction at the cost of what should be its key focus:
succession planning.
Anson Funds believes the best course of action is to immediately reinstate
Chamandy, especially considering Vince Tyra seemingly lacks the skills required
to lead Gildan into its next stage of growth.

Last week, Gildan Activewear said its Chief Executive Officer and President
Glenn Chamandy stepped down from the position and would be replaced by Vince
Tyra, effective February 12, 2024.



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