10th Mar 2021 19:23
Arix Bioscience PLC - focused on investing in biotech companies - Notes letter from 19% shareholder Acacia Research Corp calling for shake up of executive team due to "history of governance instability".
Company expresses disappointment that Acacia published the letter on the same day it was received by Arix.
"Arix has an experienced board that is committed to acting in the best interest of all shareholders. Arix has recently announced the strengthening of Corporate Governance with the appointment of two experienced independent Non-Executive Directors and a Senior Independent Director," the group stated.
"Arix has already made public its commitment to build the investment team in the UK and the US; this process is already underway," Arix added.
Company said it intends to review the letter carefully and will engage directly with Acacia.
Current stock price: 185.90 pence
Year-to-date change: down 15%
By Dayo Laniyan; [email protected]
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