Enzo Biochem Adjourns Annual Meeting of Shareholders Until April 8, 2022
Enzo Biochem announced the adjournment of its 2021 Annual Meeting of Shareholders to April 8, 2022, to allow more time to solicit proxies for Proposal 1. This proposal involves de-classifying the staggered board structure, enabling all directors to be up for re-election annually. Additionally, the proposal requires majority approval for mergers, asset sales, and other significant corporate actions. Shareholders who have not voted are encouraged to do so by April 7, 2022. The meeting will resume virtually at 9 AM EDT.
- Proposal 1 allows for annual re-election of all board directors, promoting accountability.
- Majority approval requirement for corporate actions could enhance shareholder influence.
- Proposal 1 requires 80% approval, which may be challenging to achieve.
- Adjournment indicates potential shareholder disengagement or lack of support.
NEW YORK, NY, April 01, 2022 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE: ENZ) (“Enzo” or the “Company”), a leading biosciences and diagnostics company, today announced its 2021 Annual Meeting of Shareholders (“Annual Meeting”), with respect to Proposal 1, has been adjourned until April 8, 2022 at 9 AM EDT.
The Company adjourned the Annual Meeting, held on March 31, 2022, with respect to Proposal 1 to give itself additional time to solicit proxies with respect to that proposal. If Proposal 1 is approved, Enzo’s current staggered board structure would be de-classified so that all directors would be up for re-election each year. Additionally, votes on the approval of mergers, asset sales, and dissolution as well as amendments to Enzo’s Certificate of Incorporation and By-Laws would be subject to majority approval. Further information on Proposal 1 may be found in the Company’s Definitive Proxy Statement filed with the U.S. Securities and Exchange Commission on March 1, 2022,
Proposal 1 from the slate of proposals submitted at the Annual Meeting requires the affirmative vote of the holders of at least
The Company encourages all shareholders of record as of February 25, 2022 who have not yet voted on Proposal 1 to vote to approve Proposal 1 by 11:59 PM, Eastern Daylight Time, on April 7, 2022. Shareholders of record may vote their shares by calling Kingsdale Advisors Toll-Free at 1-888-518-1554 or collect at 1-416-867-2272
The Annual Meeting was convened on March 31, 2022 with respect to Proposals 2 (the election of directors), 3 (advisory vote to approve the compensation of our named executive officers), and 4 (ratification of the Company’s public accounting firm) each as set forth in the Company’s Definitive Proxy Statement filed with the U.S. Securities and Exchange Commission on March 1, 2022, all of which were approved. The Company filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission on March 31, 2021, disclosing the voting results on those proposals.
Enzo Biochem is a pioneer in molecular diagnostics, leading the convergence of clinical laboratories, life sciences and intellectual property through the development of unique diagnostic platform technologies that provide numerous advantages over previous standards. A global company, Enzo Biochem utilizes cross-functional teams to develop and deploy products, systems and services that meet the ever-changing and rapidly growing needs of health care today and into the future. Underpinning Enzo Biochem’s products and technologies is a broad and deep intellectual property portfolio, with patent coverage across a number of key enabling technologies.
For more information, please visit www.Enzo.com or follow Enzo Biochem on Twitter and
LinkedIn.
Forward-Looking Statements
Except for historical information, the matters discussed in this release may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management, including those related to cash flow, gross margins, revenues, and expenses which are dependent on a number of factors outside of the control of the Company including, inter alia, the markets for the Company’s products and services, costs of goods and services, other expenses, government regulations, litigation, and general business conditions. See Risk Factors in the Company’s Form 10-K for the fiscal year ended July 31, 2021. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. The Company disclaims any obligations to update any forward-looking statement as a result of developments occurring after the date of this release.
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Enzo Biochem Contacts
For: Enzo Biochem:
David Bench, CFO
212-583-0100
dbench@enzo.com
For Media:
Lynn Granito
Berry & Company Public Relations
212-253-8881
lgranito@berrypr.com
For Investors:
Bob Yedid
LifeSci Advisors, LLC
646-597-6989
bob@lifesciadvisors.com
FAQ
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