Navigation Links
Investor Group Reconfigures Proposed Slate of Replacement Directors for Trinity Biotech
Date:12/8/2008

KANSAS CITY, Mo., Dec. 8 /PRNewswire/ -- An investor group in Trinity Biotech plc (Nasdaq: TRIB), an Irish based developer and manufacturer of diagnostic products, has reconfigured the slate of replacement directors it will propose for election at a special meeting of the company's shareholders that the group is seeking to have convened. Tom Reidy, speaking on behalf of the group, announced that Robert S. Winter, the founding managing member of daVinci Capital Group, would replace Steven Mock on its slate of proposed directors.

In October, the investor group, who all hold company American Depository Receipts ("ADRs"), demanded that the Board call a special meeting of company shareholders to consider the removal of the current directors. The investor group also demanded that company shareholders be granted an opportunity to vote on a slate of replacement directors. At that time, the proposed slate consisted of:

    -- Dr. Jack C. Chow, M.D., M.B.A.-Partner, CRV Capital, LLC and adjunct
       professor at Carnegie Mellon University's Heinz School of Public Policy
       and Management;
    -- Mr. Mike Gausling-Managing Partner, Originate Ventures;
    -- Dr. John H. Halsey, Ph.D.-Chief Executive Officer, Director, Founder,
       ProGene Biomedical, Inc. (dba IBT Laboratories);
    -- Mr. Steven A. Mock, CPA-Partner, BKD, LLP;
    -- Mr. Thomas Reidy; and
    -- Mr. Clint Severson, Chairman, President, and CEO, ABAXIS Corporation.

The current directors responded by refusing to honor these demands based on the board's determination that under Irish law only the ordinary share into which the ADRs can be converted, but not the ADRs themselves, have the authority to call for the convening of a special meeting. The current directors also refused to take alternative steps proposed by the investor group to convene the special meeting.

Following these refusals, the investor group initiated a campaign for conversion of company ADRs into ordinary shares to bring about the special meeting. This campaign is continuing.

Commenting on the group's ongoing campaign for conversion of Trinity Biotech ADRs to company ordinary shares, Tom Reidy stated that, "The current Board decision forcing shareholders to convert their ADRs to bring about a special meeting of shareholders has been met with considerable outrage and a wide-spread call to action. Despite the cost and inconvenience involved in this process, we are pleased with the number of shareholders who are stepping forward to take this important action to impose accountability on company management. Like us, they have come to the conclusion that a board controlled by independent directors is essential to an increase in company share value. We anticipate reporting very soon that our collective efforts will have brought about an opportunity to finally vote and be heard."

Speaking on Mr. Winter's qualifications to serve on the Trinity Biotech board, Mr. Reidy stated, "Robert's understanding of the medical device markets, especially of an international nature, brings important transactional expertise to the team. His background in capital formation and investment strategy, together with his extensive record in devising new and unique partnership opportunities, make Robert an important addition to our independent team."

Tom Reidy, 816-260-8476, tjreidy3@hotmail.com


'/>"/>
SOURCE KC Investor Group
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Strategic Diagnostics to Present at Two Upcoming Investor Conferences
2. DuPont Leaders Brief Investors on Agriculture Businesses
3. Kendle Marks 10th Anniversary as Public Company With NASDAQ Opening Bell Ceremony and Investor Day Event
4. Thermo Fisher Scientific to Present at Investor Conferences
5. Modigene to Present at the Roth 2007 New York Investor Conference
6. AspenBio Pharma to Present at the Roth Capital Partners New York Investor Conference
7. Human Genome Sciences Invites Investors to Listen to Webcast of Presentation at Thomas Weisel Partners Conference
8. Human Genome Sciences Invites Investors to Listen to Webcast of Presentation at BioCentury-Thomson Financial Investment Conference
9. Suntech to Attend Upcoming Investor Conferences and Industry Events
10. Osteotech to Present at Roth Capital Partners 2007 New York Investor Conference
11. American Oriental Bioengineering Announces Participation in September Investor Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/20/2017)... ... February 20, 2017 , ... ... Joint Commission Accredited venture-backed teleradiology and telemedicine company announces at HIMSS 2017 ... services are planned to be offered via a global cloud-based sharing and ...
(Date:2/20/2017)... -- Atrius Health and IBM (NYSE: IBM ) ... develop a cloud based service designed to improve ... of the multiple influences on an individual,s health, ... designed to support shared decision making between physicians ... healthcare organization with 875 physicians caring for 675,000 ...
(Date:2/18/2017)... Feb 17, 2017 Research and Markets has ... Report" report to their offering. ... The report provides separate comprehensive analytics for ... , and Rest of World. Annual estimates and forecasts are provided ... is provided for these markets. Market data and analytics are derived ...
(Date:2/17/2017)... Feb. 17, 2017  Protagonist Therapeutics, Inc. (NASDAQ: ... its oral peptide drug candidates, PTG-100 and PTG-200, ... European Crohn,s and Colitis Organization (ECCO).  The ECCO ... Spain from February 15 – 18, ... data on Protagonist drug candidates PTG-100 and PTG-200. ...
Breaking Biology Technology:
(Date:2/7/2017)... LONG BEACH, New York , February 7, 2017 ... formerly known as ID Global Solutions Corporation [OTC: IDGS], ... identification, identity management and electronic transaction processing services, is ... a reorganization of the Company. Effective January ... Chairman of the Board of Directors, CEO and President. ...
(Date:2/2/2017)... , Feb. 2, 2017  EyeLock LLC, a market ... new white paper " What You Should Know About ... of ensuring user authenticity is a growing concern. In ... of users. However, traditional authentication schemes such as username/password ... Biometric authentication offers an elegant solution to the ...
(Date:1/26/2017)... , Jan. 26, 2017  Crossmatch, a leading ... a new solution aimed at combatting fraud, waste and ... was introduced at the Action on Disaster Relief conference ... meeting point for UN agencies and foreign assistance organizations ... Fraud, waste and abuse are a largely unacknowledged problem ...
Breaking Biology News(10 mins):