Arcturus Therapeutics Issues Statement Regarding Timing of Extraordinary General Meeting of Shareholders
Postponement due to Joseph Payne’s Focus on Advancing His Personal Agenda at the Expense of Arcturus Shareholders
In making its determination, the Board considered, among other things, the uncertainty regarding the agenda for the meeting due to a recent petition from
Payne inexplicably waited almost three weeks after the agenda for the EGM was publicized to make a court filing to attempt to change the agenda of the Extraordinary General Meeting, which Payne demanded be held. This is another example of Payne’s efforts to disrupt the Company’s positive momentum and compromise our ongoing initiatives to drive shareholder value.
In addition, the uncertainty regarding the audit firm would not exist if Payne and his associates had voted sensibly at Arcturus’ February EGM, instead of deliberately voting in opposition to the best interests of all other shareholders and against how Payne voted on the proposal in his capacity as a Director. The Executive Committee of the Board intends to reschedule the EGM when it can provide shareholders with certainty regarding the agenda for the meeting.
As previously noted, there is an ongoing investigation into Payne’s actions as well as into the background of his proposed nominees.
In contrast to Payne’s vindictive campaign of self-interest and interference, the Executive Committee is dedicated to doing what is necessary to protect Arcturus and the interests of all of its shareholders and other stakeholders. As evidenced by the recent actions to terminate Payne for cause and continued efforts to hold Payne accountable for his reckless and disruptive campaign, the Executive Committee is committed to ensuring management accountability, oversight and successful execution of Arcturus’ strategy.
|If investors have any questions, please contact the Company’s proxy solicitor:
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Additional Information and Where to Find It
In connection with the meeting, at such time as it may be called once again (following postponement), Arcturus will make available to its shareholders of record a proxy statement describing the time and place for, and other logistical information related to, the meeting and the proposal to be voted upon at the meeting, along with a WHITE proxy card enabling them to submit their votes on that proposal. Arcturus will also be furnishing copies of the proxy statement and WHITE proxy card to the
The full text of the proposed resolutions for the meeting, together with the form of the WHITE proxy card, may also be viewed following distribution to Arcturus' shareholders at the registered office of Arcturus, c/o Meitar Liquornik Geva Leshem Tal,
This press release may contain “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, included in this press release regarding strategy, future operations, collaborations, future financial position, prospects, plans and objectives of management are forward-looking statements. Examples of such statements may include, but are not limited to, statements relating to the expectations regarding rescheduling the EGM. Arcturus may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in any forward-looking statements and you should not place undue reliance on those forward-looking statements. Any such statements are based on management’s current expectations and involve risks and uncertainties. Actual results and performance could differ materially from those projected in any forward-looking statements.
The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Arcturus’ (formerly Alcobra Ltd.’s) Annual Report on Form 20-F for the fiscal year ended
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Source: Arcturus Therapeutics, Inc.