Shareholders Led by Blue Ocean Announce Successful Results of Extraordinary General Meeting of Global Cord Blood Corporation
June 16 2022 - 4:05PM
Business Wire
Blue Ocean Structure Investment Company Ltd., (“Blue Ocean”) and
shareholders representing over 75% of the outstanding shares of
Global Cord Blood Corporation (the “Company” or “Global Cord”)
(NYSE: CO) today announced the successful approval of all
resolutions at the Global Cord Extraordinary General Meeting of
Shareholders (“EGM”) held today. 104,369,577 shares out of
121,551,075 total outstanding shares of Global Cord voted in the
EGM, which represents 85.86 percent of all outstanding shares.
The resolutions passed by the shareholders at the EGM are as
follows:
- The removal of the following directors from office of the
Company: Ting Zheng, Albert Chen, Mark D. Chen, Jack Chow, Dr. Ken
Lu, Jennifer J. Weng and Jacky Cheng;
- the election of the following five nominees as directors of
the Company: Lingyun Zhai, Guojun Liu, Yang Wang, Shi’an Liu and
Michael S. Weiss;
- the Company refrain from the proposed acquisition of
Cellenkos, Inc. (“Cellenkos”), as described in a Form 6-K filed by
the Company on 29 April 2022; and
- amendments to the Company’s Articles of Association to
eliminate the staggered Board of Directors and to provide
shareholder protective provisions.
Details of the number of shares voted in person or by proxy on
the resolutions was as follows:
Resolution
For
Against
Abstain
Votes
%
Votes
%
Votes
1. The removal of the following directors from office of the
Company: Ting Zheng, Albert Chen, Mark D. Chen, Jack Chow, Dr. Ken
Lu, Jennifer J. Weng and Jacky Cheng.
102,200,038 shares
97.92%
2,157,808 shares
2.07%
11,731 shares
2. The election of the following five nominees as directors of
the Company: Lingyun Zhai, Guojun Liu, Yang Wang, Shi’an Liu and
Michael S. Weiss.
102,154,931 shares
97.88%
2,158,090 shares
2.07%
56,556 shares
3. The Company refrain from the proposed acquisition of
Cellenkos, Inc. (“Cellenkos”), as described in a Form 6-K filed by
the Company on 29 April 2022.
104,345,365 shares
99.98%
20,996 shares
0.02%
3,216 shares
4. Amendments to the Company’s Articles of Association to
eliminate the staggered Board of Directors and to provide
shareholder protective provisions.
104,338,679 shares
99.97%
20,791 shares
0.02%
10,107 shares
Blue Ocean thanks its fellow shareholders for their support in
achieving this positive outcome today. The actions taken reflect an
overwhelming shareholder repudiation of the proposed acquisition of
Cellenkos and the total disregard for shareholder perspectives
shown by the prior Board and management team. Given the result of
the vote, Blue Ocean is confident that Global Cord will now be able
to focus its full efforts on executing against its growth strategy
while driving long-term sustainable value for all of its
shareholders.
The full text of each resolution is contained in the notice of
general meeting set out in the Circular, a copy of which is
available here:
https://www.sec.gov/Archives/edgar/data/1729271/000110465922067866/0001104659-22-067866-index.htm
For more details, please refer to Blue Ocean’s 13D filing at:
https://www.sec.gov/Archives/edgar/data/0001729271/000110465922071860/0001104659-22-071860-index.htm
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220616005926/en/
FTI Consulting Brad Newman
(US) brad.newman@fticonsulting.com +12128505736
Global Cord Blood (NYSE:CO)
Historical Stock Chart
From Apr 2024 to May 2024
Global Cord Blood (NYSE:CO)
Historical Stock Chart
From May 2023 to May 2024
