Navigation Links
Xmark Sends Letters to Icagen's Board of Directors: Questions Company's Leadership as Well as Motives Behind Adoption of Poison Pill
Date:1/20/2009

ing, without limitation, analyzing and assessing the Company's business, assets, operations, financial condition, capital structure, management and prospects, as well as the fact that it may, from time to time, evaluate various options in order to attempt to influence the performance of the Company and the activities of its Board of Directors. On December 1, 2008, Opportunity Partners filed Amendment No. 1 to the 13D ("13D Amendment No. 1") disclosing the text of a letter, dated November 29, 2008 ("Letter 1"), that it had sent to the Board of Directors that detailed, among other items, (a) our efforts to observe a meeting of the Board of Directors, (b) the Xmark Funds' accumulation of the Company's common shares and (c) our strong belief that an extraordinary transaction is in the best interest of the Company and its shareholders.

On December 2, 2008, just day(s) after we sent Letter 1 and filed 13D Amendment No. 1, the Board of Directors adopted a poison pill. To us, the timing of this move is curious and disturbing to say the least. We strongly believe that this poison pill will deter buyers from the Company to the detriment of the Company's shareholders and to the benefit of existing management. In adopting the poison pill, the Board only reinforced our long-standing belief that management is entrenched and the Board is out of touch. Moreover, management and the Board have not recently announced any cost-cutting initiatives, at a time when companies all over the world, in every industry, are cutting costs aggressively. And, the Company has made only immaterial changes to its material employment agreements.

After receiving Letter 1, the Company offered us an opportunity to sign a set of confidentiality agreements to allow us to evaluate steps, if any, that management has taken from a strategic perspective. Unfortunately, we believe that the conditions of this offer rendered it hollow and illusory. Specifical
'/>"/>

SOURCE Xmark Opportunity Partners, LLC
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9

Related medicine news :

1. Xmark Comments on Genaera Cost-Saving Plan
2. Arrow International Sends Letter Reminding Shareholders to Vote White Proxy Card in Support of Teleflex Merger and Election of Current Board of Directors
3. Pelosi and Reid: Congress Sends President Bush Bipartisan Childrens Health Insurance Bill
4. FORGET THE JONESES, This is All About Keeping up With the Walkers as the Los Angeles Jewish Home Sends Out an Invite to Everyone Named Walker in the United States
5. Aspreva Sends Materials for Special Meeting to be Held December 17
6. USAID Sends Emergency Assistance to Djibouti for Cholera
7. AmeriCares Sends Emergency Aid to Kenya
8. Rheumatoid arthritis sends many into early retirement
9. Beyond Traditional Borders sends more Rice U. undergrads to Africa
10. USAID Sends Humanitarian Assistance to the People of Georgia
11. American Red Cross Sends Relief To Cuba
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/25/2014)... When head lice hits a home or school, parents ... rid of it while keeping it from taking over the ... the solution right in their neighborhood: Lice Troopers . ... full spectrum head lice screening and treatment services to families ... Biscayne, Brickell, Coconut Grove, Kendall, Pinecrest and South Miami. , ...
(Date:12/25/2014)... By Dennis Thompson ... -- Very sick children with complex chronic illnesses can receive ... a "medical home," with easy access to a team of ... were less likely to become seriously ill and need either ... received treatment at an enhanced medical home clinic at the ...
(Date:12/25/2014)... Overeating is common during the holidays, but there are strategies ... "Don,t arrive at a party hungry. It may seem ... attending a party, but deprivation leads to hunger, and hunger ... Hospital in Mount Kisco, N.Y., said in a hospital news ... and even to have a snack before attending a party ...
(Date:12/25/2014)... HealthDay Reporter WEDNESDAY, Dec. 24, 2014 ... "fountain of youth" drug that can delay the effects of ... study suggests. Seniors received a significant boost to their ... signaling pathway linked to aging and immune function, researchers with ... medication, a version of the drug rapamycin, improved the seniors, ...
(Date:12/25/2014)... December 25, 2014 Thousands of transvaginal ... forward in a number of multidistrict litigations currently underway ... Bernstein Liebhard LLP reports. According to an Order issued ... convene a Joint Status Conference in all of the ... have been directed to submit a proposed agenda to ...
Breaking Medicine News(10 mins):Health News:Coral Gables Florida Gets Ready to Be Lice-Free with Lice Troopers 2Health News:Coordinated Care Through 'Medical Home' Best for Chronically Ill Kids: Study 2Health News:Coordinated Care Through 'Medical Home' Best for Chronically Ill Kids: Study 3Health News:Researchers Take 'First Baby Step' Toward Anti-Aging Drug 2Health News:Researchers Take 'First Baby Step' Toward Anti-Aging Drug 3Health News:Federal Court Overseeing Thousands of Transvaginal Mesh Lawsuits Set to Convene Joint Status Conference for All Litigations, Bernstein Liebhard LLP Reports 2Health News:Federal Court Overseeing Thousands of Transvaginal Mesh Lawsuits Set to Convene Joint Status Conference for All Litigations, Bernstein Liebhard LLP Reports 3Health News:Federal Court Overseeing Thousands of Transvaginal Mesh Lawsuits Set to Convene Joint Status Conference for All Litigations, Bernstein Liebhard LLP Reports 4
... recent Florida State University study, hospitals can combat spiralling ... all hospital operations. ,According to Ken Lubben, ... and Lakewood Ranch Medical Centre, have already made big ... He said that, the hospitals are yet to reap ...
... official of China the tide has ebbed and has declared ... in the province.// ,But as a damper this claim ... senior health official was Luo Huiming, director of the Guangdong ... Institute. ,He said, "The weather has begun to get ...
... the Emirates are concerned with the proposal of the Ministry ... in the country.// ,"A committee has been set ... ministry provides for the private medical sector. This includes the ... staff, and the licensing of the medical or health establishments ...
... with avian influenza infection was Saturday admitted to ... a 30-year-old resident of Jamalpur neighborhood of the ... ,Gujarat's Health Minister Ashok Bhatt, however, denied ... negative results., ,According to Bhatt, the blood ...
... has finally broken a taboo with a study on the ... General Union of Women// supported with funds from the United ... four married women gets beaten -- usually by her husband ... awareness of the problem. ,In Syria violence against ...
... times as much sunlight as those with fair skin to ... study// . ,Researchers at the Australian National University ... summer sunshine to produce enough Vitamin D whereas dark-skinned people ... ,Acceptable levels of sunbathing also depends on geography and the ...
Cached Medicine News:Health News:Technology Can Help Fight Health Care Costs 2Health News:Technology Can Help Fight Health Care Costs 3
(Date:12/24/2014)... N.J. and FARMINGTON, Conn. ... Technologies, Inc. (NYSE MKT: PTN), a biopharmaceutical company ... of diseases with significant unmet medical need and ... on a private placement of 2,050,000 shares of ... purchase 24,949,325 shares of its common stock.  Funds ...
(Date:12/24/2014)... Dec. 23, 2014 PuraMed BioScience®, Inc., (OTC ... (OTC) medicinal and healthcare products, announced it received the ... a hemp-based, advanced headache relief product, for planned distribution ... Colorado , Washington State ... With the MigraPure H Advanced headache relief gel formulation ...
(Date:12/24/2014)... , Dec. 23, 2014  Advanced Medical ... company engaged primarily in the development of brachytherapy ... applications, today announced that it has filed a ... and Drug Administration ("FDA") for marketing clearance for ... 513(f)(2) of the U.S. Food, Drug and Cosmetic ...
Breaking Medicine Technology:Palatin Completes $20 Million Equity and $10 Million Debt Financings 2Palatin Completes $20 Million Equity and $10 Million Debt Financings 3Palatin Completes $20 Million Equity and $10 Million Debt Financings 4PuraMed BioScience Nears Final Stages Needed for Distribution of MigraPure H 2PuraMed BioScience Nears Final Stages Needed for Distribution of MigraPure H 3Advanced Medical Isotope Corporation Files a "de novo" Submission for Y-90 RadioGel(TM) Device 2Advanced Medical Isotope Corporation Files a "de novo" Submission for Y-90 RadioGel(TM) Device 3
... DIEGO, Aug. 24 Pfenex Inc. and Cedarlane today ... agreement. Cedarlane will market and distribute high value reagent ... the United States. Among the products initially distributed will ... Toxin B and cell culture related growth factors including ...
... Aug. 24 Zacks Equity Research initiated research ... CGNH ) with a six-month target price of ... which gives the company an investment rating of ,Outperform, ... room heart attack testing, and its paramagnetic bead supply ...
Cached Medicine Technology:Pfenex Inc. Establishes Reagent Protein Distribution Agreement With Cedarlane Corporation 2Zacks Rates CardioGenics 'Outperform' With Six-Month Target of $1.22 2
Inquire...
... Breeze can dry as many as 6 standard gels ... 10 cm) at a time. , Comes with ... specially designed loading platform, and two Hoefer Gel Frames. ... The Gel Frame is largely responsible for the smooth, ...
... This HydroTech™ gel drying system, 100-120 V, ... and instructions. The Model 583 gel dryer is ... of 35 x 45 cm with variable temperature ... pump is a water-based pump used for pulling ...
... The GelAir™ drying system utilizes a hot air ... are dried on a clear cellophane support for ... provide a smooth, flat assembly surface for the ... drying frames at once. This 115 V, 60 ...
Medicine Products: