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:1/13/2017)... Research and Markets has announced the addition ... Forecast to 2021" report to their offering. ... The biosimilars market is expected ... in 2016, at a CAGR of 26.3%. The ... type, and application. Factors such as rising incidence of various diseases, ...
(Date:1/13/2017)... ... January 13, 2017 , ... FireflySci, in response to several ... new solutions for measurements where traditional cuvette applications are not convenient. For instance, ... oddly-shaped sample that would not fit into a typical cuvette inside a spectrophotometer. ...
(Date:1/12/2017)... NE (PRWEB) , ... January 12, 2017 , ... ... hiring of Stephen Beck, who will work in the company’s Lincoln office as a ... chemical processes to design control systems for customers in the life science manufacturing and ...
(Date:1/12/2017)... January 12, 2017 A new report published by Allied Market ... Global Opportunity Analysis and Industry Forecast, 2014-2022," projects that the global in vitro toxicity ... at a CAGR of 15.07% during the forecast period. ... ... ...
Breaking Biology Technology:
(Date:1/4/2017)... VEGAS , Jan. 4, 2017  CES ... performance biometric sensor technology, today announced the launch ... sensor systems, the highly-accurate biometric sensor modules ... biometric technology, experience and expertise. The two ... Benchmark designed specifically for hearables, and Benchmark BW2.0, ...
(Date:12/22/2016)... , December 22, 2016 SuperCom (NASDAQ: ... secure solutions for the e-Government, Public Safety, HealthCare, and Finance sectors ... SuperCom, has been selected to implement and deploy a community-based supportive ... Northern California , further expanding its presence in the ... This new ...
(Date:12/19/2016)... , 19 de diciembre de 2016  Mosaic Biomedicals SL ... desarrollo acelerado de MSC-1, un anticuerpo humanizado que se espera comenzar ... 2017, con múltiples sitios previstos a lo largo de Europa y ... MSC-1 es ... inhibidor de leucemia (LIF), una citoquina pleiotrópica que se sobreexpresa en ...
Breaking Biology News(10 mins):