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:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Researchers at ... most commonly-identified miRNAs in people with peritoneal or pleural mesothelioma. Their findings are the ... read it now. , Diagnostic biomarkers are signposts in the blood, lung fluid ...
(Date:6/23/2016)... ... 23, 2016 , ... UAS LifeSciences, one of the leading ... UP4™ Probiotics, into Target stores nationwide. The company, which has been manufacturing high ... its list of well-respected retailers. This list includes such fine stores as Whole ...
(Date:6/23/2016)... , June 23, 2016 /PRNewswire/ - FACIT ... Ontario biotechnology company, Propellon Therapeutics ... development and commercialization of a portfolio of first-in-class ... Epigenetic targets such as WDR5 represent an exciting ... significantly in precision medicine for cancer patients. Substantial ...
(Date:6/23/2016)... Houston Methodist Willowbrook Hospital has signed ... to serve as their official health care provider. ... will provide sponsorship support, athletic training services, and ... volunteers, athletes and families. "We are ... and to bring Houston Methodist quality services and ...
Breaking Biology Technology:
(Date:3/31/2016)... , March 31, 2016 ... ) ("LegacyXChange" or the "Company") LegacyXChange is ... users of its soon to be launched online site ... https://www.youtube.com/channel/UCyTLBzmZogV1y2D6bDkBX5g ) will also provide potential shareholders ... of DNA technology to an industry that is notorious ...
(Date:3/29/2016)... Florida , March 29, 2016 ... the "Company") LegacyXChange "LEGX" and SelectaDNA/CSI Protect are pleased ... in ink used in a variety of writing instruments, ... Buyers of originally created collectibles from athletes on LegacyXChange ... forensic analysis of the DNA. Bill ...
(Date:3/22/2016)... India , March 22, 2016 /PRNewswire/ ... market research report "Electronic Sensors Market for Consumer ... Proximity, & Others), Application (Communication & IT, ... Geography - Global Forecast to 2022", published ... industry is expected to reach USD 26.76 ...
Breaking Biology News(10 mins):