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:11/30/2016)... Part of 5m$ Investment in Integrated ... ... LLC today announced that it had successfully completed the expansion ... have increased the Screening Collection to over 400,000. The new ... of the company. This expansion, complemented by new robotics and ...
(Date:11/30/2016)... ... 30, 2016 , ... Energetiq Technology, a world leader in ... ultra-bright, Laser-Driven Light Source, the EQ-77, at the MRS Fall Exhibit 2016. , ... higher radiance and irradiance from a truly broadband white light source. The EQ-77 ...
(Date:11/30/2016)... ... ... With growth rates averaging more than 30% each year, Random42 has quickly ... their expansion in their new office space. The new office has a fantastic location ... creative industries, so Random42 Scientific Communication will fit right in. , Ben Ramsbottom, ...
(Date:11/30/2016)... Connecticut , November 30, 2016 ... die integrierte Medikamententdeckung    ... , , ... Prüfbibliothek erfolgreich erweitert zu haben. Zusätzliche 150.000 neuartige Substanzen ... Substanzen wurden sorgfältig ausgewählt, um die starken Entdeckungsfähigkeiten des ...
Breaking Biology Technology:
(Date:11/15/2016)... DUBLIN , Nov 15, 2016 Research ... - Global Forecast to 2021" report to their offering. ... ... reach USD 16.18 Billion by 2021 from USD 6.21 Billion in ... Growth of the bioinformatics market is driven by ...
(Date:6/22/2016)... 22, 2016   Acuant , the ... solutions, has partnered with RightCrowd ® ... Visitor Management, Self-Service Kiosks and Continuous Workforce ... add functional enhancements to existing physical access ... venues with an automated ID verification and ...
(Date:6/15/2016)... 2016 Transparency Market Research ... Market by Application Market - Global Industry Analysis Size Share ... the report, the  global gesture recognition market  was ... is estimated to grow at a CAGR of ... Increasing application of gesture recognition technology ...
Breaking Biology News(10 mins):