Amarin Sets the Record Straight on Sarissa’s Latest Misstatements
February 27 2023 - 04:29PM
GlobeNewswire Inc.
Amarin Corporation plc (NASDAQ: AMRN) (“Amarin” or the “Company”)
today issued the following statement in response to Sarissa’s
latest misstatements regarding the Company’s management
compensation:
The Amarin Board of Directors,
consistent with standard public company practice and in line with
its fiduciary responsibilities, authorized its management
compensation plan for 2023. Contrary to Sarissa’s claims, the
timing of the plan approval was in February, which is consistent
with previous years. In addition, as part of this year’s
compensation plan (like all prior years), all Amarin employees
globally received annual performance grants. Sarissa’s comment that
Karim Mikhail’s equity grants vest “solely based on the passage of
time” is also another misrepresentation of the facts. Mr. Mikhail’s
compensation package includes performance-based grants, which are
only triggered if performance thresholds are achieved.
Sarissa also insinuates that the
Board is “refusing” to release the results of the General Meeting –
this is another misrepresentation of the facts. The General Meeting
has not occurred yet, and Sarissa and its legal
advisors both know that companies do not publicize preliminary
results prior to any general meeting, consistent with SEC
guidelines. The Board assures shareholders that the results of the
General Meeting will be posted in a timely manner following the
conclusion of the meeting.
The New Amarin is on the right track
toward transforming into a global, diversified cardiometabolic
player as we execute a thoughtful and practical strategic plan
designed to create value now.
About AmarinAmarin is an innovative
pharmaceutical company leading a new paradigm in cardiovascular
disease management. From our foundation in scientific research to
our focus on clinical trials, and now our commercial expansion, we
are evolving and growing rapidly. Amarin has offices in
Bridgewater, New Jersey in the United States, Dublin in Ireland,
Zug in Switzerland, and other countries in Europe as well as
commercial partners and suppliers around the world. We are
committed to increasing the scientific understanding of the
cardiovascular risk that persists beyond traditional therapies and
advancing the treatment of that risk.
Forward-Looking StatementsThis press release
contains forward-looking statements which are made pursuant to U.S.
federal securities law. These forward-looking statements are not
promises or guarantees and involve substantial risks and
uncertainties. A further list and description of these risks,
uncertainties and other risks associated with an investment in
Amarin can be found in Amarin’s filings with the U.S. Securities
and Exchange Commission, including Amarin’s annual report on
Form 10-K for the full year ended 2021, and Amarin’s
quarterly reports on Form 10-Q for the quarters ended
March 31, 2022, June 30, 2022, and September 30,
2022, and its other filings. Existing and prospective investors are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date they are made. Amarin
undertakes no obligation to update or revise the information
contained in its forward-looking statements, whether as a result of
new information, future events or circumstances or otherwise.
Amarin’s forward-looking statements do not reflect the potential
impact of significant transactions the company may enter into, such
as mergers, acquisitions, dispositions, joint ventures or any
material agreements that Amarin may enter into, amend or
terminate.
Amarin Contact Information
Investor Inquiries:investor.relations@amarincorp.com (investor
inquiries)
Media Inquiries:PR@amarincorp.com (media inquiries)
OrSteve Frankel / Andi Rose / Tali EpsteinJoele Frank, Wilkinson
Brimmer Katcher212-355-4449
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