We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Mereo BioPharma Group PLC | NASDAQ:MREO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.22 | -6.13% | 3.37 | 3.36 | 3.47 | 3.70 | 3.385 | 3.61 | 569,661 | 23:57:19 |
Director Nominees Possess the Financial, Regulatory and Strategic Expertise to Maximize Value for All Shareholders
Details Mereo’s Desperate Efforts to Thwart Requisition of General Meeting of Shareholders
Rubric Capital Management LP (“Rubric”), an investment advisor whose funds and accounts collectively own approximately 14% of the outstanding equity of Mereo BioPharma Group plc (NASDAQ: MREO) (“Mereo” or the “Company”), today issued an open letter to Mereo’s shareholders. In its letter, Rubric details Mereo’s entrenching tactics in a desperate attempt to once more thwart Rubric’s effort to call a general meeting of shareholders.
Rubric has delivered yet another revised requisition today and is increasing the size of its slate of proposed directors to five director nominees, who it believes will provide the Board with the financial, regulatory, and strategic expertise to maximize value for all shareholders. The five highly qualified candidates for Mereo’s Board are: Annalisa Jenkins, MBBS, FRCP, Daniel Shames, MD, Marc Yoskowitz, Justin Roberts, and David Rosen.
The full text of the letter follows:
Dear Fellow Mereo Shareholders,
The Mereo Board has once again rejected our request for a special meeting based on the flimsiest of pretexts. On this occasion they cite the “basic legal requirement” that the requisition be delivered by a “registered shareholder”. On its face, this seems like a reasonable request but for the following facts they, once again, conveniently omit:
Given the lengths this Board has gone to so far to prevent this requisition, if the vaults are the victim of a heist I think we can narrow the suspect list considerably.
Not since CSX held its 2008 annual meeting in an “inaccessible rail yard” in a futile attempt to prevent TCI/3G’s proxy challenge have we seen such depths of entrenchment and wasteful use of shareholder resources. These tactics have not deterred Rubric from its efforts, and we have completed them in order to deliver yet another revised requisition today.
Rubric has attempted, throughout this process, to operate with transparency about our intentions and clearly communicate as to why we believe our course of action to be in the best interests of shareholders. Our requests have thus far been met with bad faith, in both word and deed, by the Mereo Board.
It is clear to Rubric (and we hope other shareholders) that the problems on the Board of Mereo run deeper than we anticipated. In light of this development and our belief that further boardroom change is required to achieve the best outcome for shareholders, we are increasing the size of our slate of proposed directors to five in order to accommodate my nomination. My nomination will further bolster our strong slate of existing nominees and we believe will provide the Board with the financial, regulatory, and strategic expertise to maximize value for all shareholders.
Sincerely,
David Rosen
View source version on businesswire.com: https://www.businesswire.com/news/home/20221003005384/en/
Media: Jonathan Gasthalter/Sam Fisher Gasthalter & Co. (212) 257-4170
Investors: Okapi Partners LLC Bruce Goldfarb / Jason Alexander (212) 297-0720 info@okapipartners.com
1 Year Mereo BioPharma Chart |
1 Month Mereo BioPharma Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions