CAMBRIDGE, England and WALTHAM, Mass., May 30, 2023
/PRNewswire/ -- Abcam plc ("Abcam," "Company," "Group")
(Nasdaq: ABCM), a global leader in the supply of life science
research tools, notes that it has received a notice from Dr.
Jonathan Milner seeking to require
the Board of Directors to convene an Extraordinary General Meeting
(the "EGM"). The Company is reviewing the notice with its legal
advisors and will provide a further update in due course.
Shareholders do not need to take any action at this time.
The Board has met with Dr. Milner in good faith over the past
few weeks to discuss how his expertise can be used at the Board and
continues to seek a resolution that would benefit all shareholders
and avoid an unnecessary and distracting EGM at a significant cost
to the Company and its shareholders.
Dr. Milner initially formally requested to be re-appointed to
the Board, in a non-executive role, on 28
April 2023, less than three weeks prior to the Company's
Annual General Meeting (the "AGM") and after the date he could have
been properly nominated for election at the AGM. The Board moved
quickly to complete its formal consideration of Dr. Milner's
appointment to the Board, including facilitating meetings with all
of Abcam's non-executive directors within 10 days.
Following completion of its governance process, the Board
offered Dr. Milner a seat on the Board subject to a customary
relationship agreement, consistent with his being a significant
shareholder. After informing Dr. Milner that the Board was willing
and able to appoint him, he immediately rejected the invitation and
requested to be named Executive Chairman. Dr. Milner then
issued a press release announcing his intent to requisition an
Extraordinary General Meeting.
Despite the Board's efforts to encourage Dr. Milner to join the
Board, Dr. Milner has made it clear he will not accept any other
role on the Board except Executive Chairman. He has not yet offered
any details as to his vision or how he would interact with the
Company, therefore making it impossible for the Board to ensure
effective executive governance could be delivered.
About Abcam plc
As an innovator in reagents and tools, Abcam's purpose is to
serve life science researchers globally to achieve their mission
faster. Providing the research and clinical communities with tools
and scientific support, the Company offers highly validated
antibodies, assays, and other research tools to address important
targets in critical biological pathways.
Already a pioneer in data sharing and ecommerce in the life
sciences, Abcam's ambition is to be the most influential company in
life sciences by helping advance global understanding of biology
and causes of disease, which, in turn, will drive new treatments
and improved health.
Abcam's worldwide customer base of approximately 750,000 life
science researchers' uses Abcam's antibodies, reagents, biomarkers,
and assays. By actively listening to and collaborating with these
researchers, the Company continuously advances its portfolio to
address their needs. A transparent program of customer reviews and
datasheets, combined with industry-leading validation initiatives,
gives researchers increased confidence in their results.
Founded in 1998 and headquartered in Cambridge, UK, the Company has served
customers in more than 130 countries. Abcam's American Depositary
Shares (ADSs) trade on the Nasdaq Global Select Market (Nasdaq:
ABCM).
For more information, please visit www.abcam.com or
www.abcamplc.com
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. In
some cases, you can identify forward-looking statements by the
following words: "may," "might," "will," "could," "would,"
"should," "expect," "plan," "anticipate," "intend," "seek,"
"believe," "estimate," "predict," "potential," "continue,"
"contemplate," "possible" or the negative of these terms or other
comparable terminology, although not all forward-looking statements
contain these words. They are not historical facts, nor are they
guarantees of future performance. Any express or implied
statements contained in this announcement that are not statements
of historical fact may be deemed to be forward-looking statements,
including, without limitation, statements regarding Abcam's
expectations relating to Dr. Milner's request, and are neither
promises nor guarantees, but involve known and unknown risks and
uncertainties that could cause actual results to differ materially
from those projected, including, without limitation,
important factors discussed under the caption "Risk Factors"
in Abcam's Annual Report on Form 20-F for the year ended
December 31, 2022 with
the U.S. Securities and Exchange Commission ("SEC") on
March 20, 2023, which is available on
the SEC website at www.sec.gov, as such factors may be updated from
time to time in Abcam's subsequent filings with the SEC.
Any forward-looking statements contained in this announcement speak
only as of the date hereof and accordingly undue reliance should
not be placed on such statements. Abcam disclaims any
obligation or undertaking to update or revise any forward-looking
statements contained in this announcement, whether as a result
of new information, future events or otherwise, other than to the
extent required by applicable law.
Abcam plc
Tommy Thomas, CPA
Vice President, Investor Relations
+1 617-577-4205
152 Grove Street, Building 1100
Waltham, MA 02453
Media enquiries
US: Joele Frank
+1 212-355-4449
Abcam-JF@joelefrank.com
Europe: FTI
+44 (0)203-727-1000
Abcam@fticonsulting.com
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SOURCE Abcam PLC