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
|SOURCE KC Investor Group|
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