Navigation Links
Concerned Shareholders Respond to Biovail's Press Release
Date:7/16/2008

TORONTO, July 16 /PRNewswire/ - Eugene Melnyk and EM Holdings B.V. (the "Concerned Shareholders") are disappointed to see a number of incomplete or inaccurate statements in Biovail 's press release issued earlier today.

"The hallmark of this proxy contest to date has been misinformation coming from Biovail. Once again, we see the Board and management using the same tactics," stated Bruce Brydon, one of the Concerned Shareholders' proposed nominees.

"Biovail is telling shareholders that no action is needed, but their statement does not tell shareholders who haven't yet voted that they may do so and that shareholders who have already voted have a right to change their votes. I urge all Biovail shareholders to carefully consider our proposed plan and cast their votes. If they have already voted in favour of the incumbents, a later-dated proxy in favour of the Concerned Shareholders' nominees will be the one that is counted," continued Mr. Brydon.

The Concerned Shareholders further point out that the reason that the meeting had to be adjourned is because Biovail's quorum requirement was not met. The quorum requirement is 51% and Mr. Melnyk only owns approximately 11.6% of Biovail's shares. "The reality is the holders of less than 51% of Biovail's outstanding shares were represented at the meeting, and it is the current Board and management's fault that the meeting was illegally held, not Mr. Melynk's," said Mr. Brydon. "Furthermore, the status of the vote was much closer than Biovail indicated. A swing of approximately 9 million votes (less than 6% of Biovail's issued and outstanding shares) would have resulted in the election of the Concerned Shareholders' Nominees at 10:00 am on June 25th, 2008 if Mr. Melnyk and EM Holding B.V.'s votes were counted."


'/>"/>
SOURCE Concerned Shareholders of Biovail
Copyright©2008 PR Newswire.
All rights reserved

Page: 1

Related biology technology :

1. Concerned Shareholders of Biovail Pleased with Court Order for Biovail AGM
2. Concerned Shareholders of Biovail seek court order declaring Biovail AGM illegally convened;
3. Biovail Concerned Shareholders Welcome Glass Lewis Evaluation
4. Biovail Concerned Shareholders Want Open Debate
5. Shareholders Approve All Matters Proposed by Cell Therapeutics, Inc. at Special Meeting in Lieu of Annual Meeting of Shareholders
6. Cell Therapeutics, Inc. Special Meeting in Lieu of Annual Meeting of Shareholders Scheduled for Thursday, June 19, 2008
7. Bioheart, Inc. to Host Annual Meeting of Shareholders on Wednesday, July 30, 2008
8. Dragon Pharma Announces June 26, 2008 for 2008 Annual Shareholders Meeting
9. Medco CEO to Shareholders: Delivering Results, Driving Shareholder Value
10. Spherix Holds Annual Shareholders Meeting
11. WorldHeart Reports an Event of Default Under the Note Issued to Abiomed, Resignation of One of Its Board of Directors, and Results of Shareholder Vote at Its Annual Shareholders Meeting
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/27/2014)... YORK , Aug. 27, 2014 /PRNewswire/ ... research report is available in its catalogue: ... 2014-2018 http://www.reportlinker.com/p02316661/Global-Biodegradable-Packaging-Materials-Market-2014-2018.html ... materials are materials that are readily decomposed ... differs from conventional non-degradable packaging in terms ...
(Date:8/27/2014)... The Global and China Trifluoroacetic Acid Industry ... state of the Trifluoroacetic Acid industry in Global and ... the industry, including definitions, applications and industry chain structure. ... provided with a focus on history, developments, trends and ... international and Chinese situation is also offered. , The ...
(Date:8/27/2014)... LOS ANGELES , Aug. 27, 2014  Lisa ... 30 years this July 4 holiday, thanks to a ... M.D., Ph.D., an internationally renowned clinician-researcher at the University ... is a 55-year-old Peoria, Ariz. ... progressively robs its victims of sight. On June 2, ...
(Date:8/27/2014)... YORK , Aug. 27, 2014 Guggenheim ... Guggenheim Partners, today announced the hiring of veteran equity ... senior equity analyst. Mr. Butler will focus on the ... our team a wealth of experience and a broad ... Ferrarie , Senior Managing Director and Head of Equities ...
Breaking Biology Technology:Global Biodegradable Packaging Materials Market 2014-2018 2Global Biodegradable Packaging Materials Market 2014-2018 3Global Biodegradable Packaging Materials Market 2014-2018 4Global Biodegradable Packaging Materials Market 2014-2018 5Global Biodegradable Packaging Materials Market 2014-2018 6Global Biodegradable Packaging Materials Market 2014-2018 7Trifluoroacetic Acid Industry (Asia, Europe, North America, ROW) Analysis Report Now Available at ReportsnReports.com 2USC Eye Institute ophthalmologists implant first FDA-approved Argus II retinal prosthesis in western United States 2USC Eye Institute ophthalmologists implant first FDA-approved Argus II retinal prosthesis in western United States 3USC Eye Institute ophthalmologists implant first FDA-approved Argus II retinal prosthesis in western United States 4USC Eye Institute ophthalmologists implant first FDA-approved Argus II retinal prosthesis in western United States 5Guggenheim Securities Hires Analyst Charles "Tony" Butler to Expand Healthcare Coverage 2
... PAREXEL International,Corporation (Nasdaq: PRXL ) will release ... August 6, 2008 after the close of the stock,market. ... http://www.parexel.com and on the PR Newswire website at ... conference call and live webcast at 10:00 a.m. EDT,on ...
... a leading provider of outsourced CFO-level financial and management services for ... as Partner to its Boston office. Strickland is the latest partner ... last year. , ... Cambridge, MA (PRWEB) July 8, ...
... July 7 American Oriental,Bioengineering, Inc. (NYSE: ... to market conditions and other factors, $85 million ... to qualified,institutional buyers in a private placement exempt ... 1933, as amended (the "Securities,Act")., AOB currently ...
Cached Biology Technology:PAREXEL Announces Date of Fourth Quarter and Fiscal Year 2008 Earnings Release and Conference Call 2TechCFO Adds Gary Strickland as Partner in Boston Office 2American Oriental Bioengineering Proposes Offering of $85 Million of Convertible Notes 2American Oriental Bioengineering Proposes Offering of $85 Million of Convertible Notes 3
(Date:8/28/2014)... delivering compounds that could positively impact the ... be possible, thanks to researchers in Penn ... vaginal suppository made from the seaweed-derived food ... drug Tenofovir provides a woman-initiated, drug-delivery vehicle ... sexually transmitted infections during unprotected heterosexual intercourse, ...
(Date:8/28/2014)... kilometres of new roads will be built worldwide by ... last wildernesses, where they bring an influx of destructive ... ambitious study has created a ,global roadmap, for prioritising ... the competing demands of development and environmental protection. , ... estimates that natural importance of ecosystems and a ,road-benefits, ...
(Date:8/28/2014)... Protected areas conserve biodiversity and more action is needed ... areas, researchers say. , Published in PLOS ONE ... University of Exeter, used meta-analysis - combining results from ... years of research into these areas, to determine whether ... School of Biological Sciences, said protecting an area from ...
Breaking Biology News(10 mins):Sensory-tested drug-delivery vehicle could limit spread of HIV, AIDS 2Sensory-tested drug-delivery vehicle could limit spread of HIV, AIDS 3Study shows where on the planet new roads should and should not go 2Study shows where on the planet new roads should and should not go 3Protected areas proven to protect biodiversity 2
... at the University of Pennsylvania School of Medicine identified ... Epstein-Barr Virus (EBV) protein known to be expressed in ... new mechanism by which EBV can transform human B ... can lead to B-cell lymphomas. Now, they have found ...
... the forthcoming Quarterly Review of Biology, biologists from Binghamton ... laughter ?laughter which is stimulus-driven and laughter which is ... everyday social interaction in response to banal comments and ... and David Sloan Wilson. "The unstated issue is whether ...
... Earth's landscape , The ice ages made massive changes to ... in the oceans? , Research by marine scientists reveals that ... of animals were wiped out by ice sheets scouring the ... that these ecosystems somehow dodged extinction by recolonising from nearby ...
Cached Biology News:Mechanism for Epstein-Barr virus protein's role in blood cancers discovered 2Gene therapy may protect normal tissues during radiation retreatment for lung cancer 2
... Membrane Protein 2, Synaptobrevin 2). ... homology with any other known ... expected that the antibody will ... multata and bovine due to ...
... encodes two unrelated proteins both of which ... cell cycle in a p53-dependent manner. p14^ARF^ ... degradation of mdm2 proteinrequired for mdm2 modification ... This interaction is mediated by the exon ...
human Exodus-2 Research Focus: cytokine/growth factor Storage Temperature: -20C Shipping Temperature: 4C...
...
Biology Products: