Navigation Links
VaxGen Issues Rebuttal to MedCap Letter
Date:3/25/2008

find such an outcome compelling when compared with the opportunities

represented by a combination with Raven.

5. Finally, although ISS notes MedCap's governance concerns, it neither

endorses them nor expresses any concerns over governance or the

process followed to date.

VaxGen also takes exception with ISS' recommendation regarding the 2008 Equity Incentive Plan. The text of ISS recommendation on the plan is as follows: "We commend the company for expressly forbidding the repricing of stock options under the plan. However, the estimated shareholder value transfer of the company's plans of 22 percent is above the allowable cap for this company of 20 percent."

VaxGen and its advisors have reviewed ISS' analysis and find it to be technically correct, as an analysis of the Plan as a stand-alone entity in the event of a negative vote on the merger proposal. Indeed, the management and Board of VaxGen believe that the 2008 Plan is moot in the event of a negative vote on the merger proposal. In practice, however, the plan is being proposed in the context of the proposed merger with Raven which, if approved, will nearly double VaxGen's shares outstanding. In this context, using ISS' own methodology, the proposed Plan would be well below ISS' allowable cap of 20%. VaxGen believes it would have been helpful for ISS to have noted this important contextual qualification to its analysis, in order that our stockholders not be left with the impression that VaxGen is proposing an excessive equity incentive plan.

Note: This letter contains "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements include, without limitation, statements regarding the anticipated benefits the proposed merger, the implications of a negative vote on the merger, and the estimated liquidation value to stockholders. These statements are subject to risks and uncertainties that could
'/>"/>

SOURCE VaxGen Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11

Related biology technology :

1. VaxGen Files 2006 Financial Statements and Provides Cash Update
2. VaxGen Further Restructures to Preserve Cash as It Pursues Strategic Initiatives
3. VaxGen Files First Quarter 2007 Financials
4. Jack Anthony to Resign From VaxGens Board After Accepting CEO Position at Osprey Pharmaceuticals
5. VaxGen Files Last Outstanding Periodic Report With SEC
6. VaxGen Addresses MPM Claims in Letter to Stockholders
7. VaxGen Common Stock Expected to Qualify for Quotation on OTC Bulletin Board
8. VaxGen Stockholders Overwhelmingly Approve Reverse Split Proposal
9. VaxGen and Raven Announce Form S4 Registration Statement Declared Effective
10. VaxGen to Present at the 10th Annual BIO CEO and Investor Conference
11. VaxGen Reports Financial Update
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/10/2014)... quantum Hall effect in bilayer graphene and shown that ... an electric field. , The fractional quantum Hall ... sheets are exposed to large magnetic fields, is a ... electrons behave as a single system. However, while the ... details of this collective behavior remain not well understood, ...
(Date:7/10/2014)... recent study by researchers at the University of ... physical mechanisms governing the interplay of spin and ... limits of ultrafast spintronic devices for data storage ... charge as well as spin-angular momentum. In a ... there is no spin current," explained David Cahill, ...
(Date:1/15/2014)... , Jan. 15, 2014  Bill Jacobs Automotive, a group of ... teaming up with the Heartland Blood Center and offering free ... The drive takes place Saturday, Jan. 18 at the Bill ... p.m. (Photo: http://photos.prnewswire.com/prnh/20140115/MN46637 )  The ...
(Date:1/15/2014)... Cynvenio, a cancer diagnostics company focused ... analysis of tumor cells in the bloodstream, today announced ... decision support application powered by CollabRx, Inc. , ... test, Therapy Finder will provide breast cancer patients and ...
Breaking Biology Technology:Columbia researchers observe tunable quantum behavior in bilayer graphene 2Columbia researchers observe tunable quantum behavior in bilayer graphene 3University of Illinois study advances limits for ultrafast nano-devices 2Join the Bill Jacobs Auto blood drive and receive a free oil change 2Cynvenio Offers New Breast Cancer Therapy Finder Application for its ClearID Breast Cancer Genomic Test 2Cynvenio Offers New Breast Cancer Therapy Finder Application for its ClearID Breast Cancer Genomic Test 3
... Accera, Inc., a biotech company specializing in ... to the Alzheimer,s Foundation of America (AFA) for sponsorship ... Alzheimer,s Disease Awareness Month.  These funds will be used ... individuals with Alzheimer,s disease (AD) and their families, especially ...
... SHELTON, Conn., Oct. 24, 2011 Modern Plastics, one ... shapes and medical-grade plastics, has become ISO 13485-2003 certified ... Tube, Film and Resin. "This is ... customer commitment to service and quality," said Bing J. ...
... Amsterdam Molecular Therapeutics (Euronext: AMT), a leader in ... the European Medicines Agency,s (EMA) Committee for Medicinal Products ... that Glybera (alipogene tiparvovec) is not approvable at this ... recommendation of CHMP Rapporteurs, the Scientific Advisory Group (SAG), ...
Cached Biology Technology:Accera, Inc. Donates $50,000 to the Alzheimer's Foundation of America for National Memory Screening Day 2Accera, Inc. Donates $50,000 to the Alzheimer's Foundation of America for National Memory Screening Day 3Amsterdam Molecular Therapeutics Receives Opinion on Re-examination of Glybera® Marketing Authorisation Application 2Amsterdam Molecular Therapeutics Receives Opinion on Re-examination of Glybera® Marketing Authorisation Application 3
(Date:7/10/2014)... COMMACK, N.Y. , July 2, 2014 ... Inc. (ABD) to announce the appointment of the world-renowned ... its Board of Directors. Dr. Ginsburg, with ... two facilities: NY Presbyterian Hospital and Good Samaritan Regional ... Breathing Pacemaker since the late 1980,s and is considered ...
(Date:7/10/2014)... -- Research and Markets ( http://www.researchandmarkets.com/research/h7h8lq/gesture ) has ... Recognition & Touch-Less Sensing (2D, 3D, Ultrasonic, IR, ... to their offering http://photos.prnewswire.com/prnh/20130307/600769 ... Sensing Market to Grow Exponentially. Touch-less sensing applications ... companies were unable to leverage this technology due ...
(Date:7/10/2014)... 2014 Fingerprint Cards, (FPC,s) ... win (DW). An Asian OEM has selected FPC1021 for a ... in August 2014.   FPC is proud to ... a planned date for start of mass production in August ... SEK 5M, for delivery in the first half of July. ...
Breaking Biology News(10 mins):Avery Biomedical Devices, Inc. announces the appointment of Mark E Ginsburg, M.D. to its Board of Directors 2Global Gesture Recognition & Touch-Less Sensing (2D, 3D, Ultrasonic, IR, Capacitive) Market - Forecasts to 2020 2FPC Wins DW and Initial Ramp Order for FPC1021 Touch Sensor for Flagship Smartphone from Asian OEM 2
... This release is available in German . ... or malaria treatment could soon become easier - thanks to ... Institute of Molecular Physiology in Dortmund aim to facilitate the ... Scaffold Hunter, acts as a tool for navigating chemical space. ...
... Palo Alto, CAWith the information explosion, it,s ... interactions that proteins have with each other and ... interactive, so-called membrane proteins regulate nutrients and water ... interface with neighboring cells and within the cell. ...
... generates electricity can also remove 90 percent of salt from ... researchers from China and the U.S. Clean water for ... some parts of the world. Its availability in the future ... using either a reverse osmosis process -- one that pushes ...
Cached Biology News:Navigating in the ocean of molecules 2Navigating in the ocean of molecules 3Carnegie donates landmark clones to biology 2Wastewater produces electricity and desalinates water 2Wastewater produces electricity and desalinates water 3
... E-PAGE Gels easier and more efficient by ... several types of pre-cut pre-assembled membrane/filter paper ... 13.5 cm E-PAGE Gels*. The available nitrocellulose ... western transfer of proteins (Figure 1 Table ...
... carbohydrate analysis standard is a lyophilized ... sugar alcohol; molecular weights range from ... provided for use with the Aminex ... kit for column testing or semiquantitative ...
... kit was tested on rat tissue extracts (liver, ... ( S. cerevisae ) extract. It was also ... and cell lines. Application: A simple and reliable ... based on the detection of the inorganic phosphate ...
... is the condition in which a lack ... and the various antioxidants. Oxidative stress ... of several diseases, including artherosclerosis, chronic inflammatory ... several antioxidant systems that are very important ...
Biology Products: