Teligent, Inc. Announces Adjournment of Annual Meeting of Stockholders

Rhea-AI Summary

Teligent, Inc. (Nasdaq: TLGT) announced the adjournment of its Annual Meeting of Stockholders originally scheduled for June 18, 2021, due to insufficient votes on key proposals. The meeting will reconvene on July 21, 2021, at 10:00 a.m. Eastern time, to allow additional time for stockholders to cast their votes. The record date for eligible stockholders remains May 17, 2021. Teligent urges eligible stockholders who have not voted to do so promptly, as their participation is crucial for the meeting’s outcomes.

Positive

• None.

Negative

• Insufficient votes led to the adjournment of the Annual Meeting, indicating potential disengagement from shareholders.
• The need to reschedule the meeting may create uncertainty regarding governance and decision-making.

Scheduled to Reconvene on July 21, 2021
Company Urgently Encourages Stockholders to Vote

BUENA, N.J., June 30, 2021 (GLOBE NEWSWIRE) -- Teligent, Inc. (Nasdaq: TLGT), a New Jersey-based specialty generic pharmaceutical company (the “Company”), announced today that its Annual Meeting of Stockholders, scheduled for June 18, 2021 and adjourned to June 30, 2021, was convened and adjourned without any business being conducted due to the fact that there were not sufficient votes to approve all of the proposals presented at the Annual Meeting. The Company is adjourning the meeting in order to solicit additional votes to meet the requirements for approval of the proposals presented.

The Annual Meeting will be reconvened at 10:00 a.m. Eastern time on July 21, 2021 to allow more opportunity for stockholders to vote on the proposals described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission (the “SEC”) on May 19, 2021. Stockholders will be able to attend the rescheduled Annual Meeting virtually by visiting www.virtualshareholdermeeting.com/TLGT2021.

The record date for determining stockholders eligible to vote on the proposals at the Annual Meeting remains May 17, 2021.

The Company strongly encourages any eligible stockholder that has not yet voted their shares, or provided voting instructions to their broker or other record holder, to do so promptly. No action is required by any stockholder who has previously delivered a proxy and who does not wish to revoke or change that proxy. Shares may be voted via the Internet, by telephone and by mail. For questions relating to the voting of shares or to request additional or misplaced proxy voting materials, contact the Company’s proxy solicitor: Alliance Advisors LLC, TOLL‐FREE, at 1‐855-928-4494 or via email at TLGT@allianceadvisors.com.

YOUR PARTICIPATION IS IMPORTANT – PLEASE VOTE TODAY

A copy of the Company’s proxy statement as previously filed with the SEC is available at no charge on the SEC website at www.sec.gov. In addition, copies of the proxy statement and other documents may be obtained free of charge by accessing the Company’s website at www.teligent.com or by contacting the Company’s Corporate Secretary at (856) 776-4632, via email at InvestorsRelations@teligent.com or by mail to Corporate Secretary, Teligent, Inc., 105 Lincoln Avenue, Buena, NJ 08310.

Additional Information

This communication may be deemed to be solicitation material. On May 19, 2021, the Company filed a definitive proxy statement with the SEC in connection with the Annual Meeting. STOCKHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT AND ANY OTHER SOLICITING MATERIALS THAT ARE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE PROPOSALS TO BE VOTED UPON. The Company’s proxy statement and any other solicitation materials filed by the Company with the SEC can be obtained free of charge at the SEC’s website at www.sec.gov and at the investor relations section of the Company’s website at www.teligent.com. The Company, its directors and certain of its officers and employees will be participants in the solicitation of proxies from stockholders in respect of the Annual Meeting. The Company has also engaged Alliance Advisors to aid in the solicitation of proxies. Detailed information regarding the identity of the participants, and their respective interests in the Company by security holdings or otherwise, are set forth in the definitive proxy statement for the Annual Meeting. The contents of the websites referenced above are not deemed to be incorporated by reference into the proxy statement.

Forward-Looking Statements

This press release includes “forward-looking statements” that are intended to qualify for the safe harbors from liability provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts are statements that could be deemed forward-looking. These statements are based on current expectations, estimates, forecasts and projections about the Company’s business and the industry in which the Company operates and the beliefs and assumptions of the Company’s management. Forward-looking statements can be identified by the use of words such as “will,” “may,” “could,” “should,” “would,” “believe,” “depends,” “expect,” “goal,” “anticipate,” “forecast,” “project,” “future,” “intend,” “plan,” “estimate,” “target,” “indicate,” “outlook,” and similar expressions of future intent or the negative of such terms. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, these forward-looking statements are based on management’s current beliefs, expectations and assumptions and are subject to risks and uncertainties. These statements are based on the Company’s current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other periodic reports the Company files with the Securities and Exchange Commission.  Additionally, many of these risks and uncertainties are currently amplified by and will continue to be amplified by, or in the future may be amplified by, the COVID-19 outbreak and the effects thereof on the Company’s future performance and results of operations. It is not possible to predict or identify all such risks. There may be additional risks that the Company considers immaterial or which are unknown. You should not rely upon forward-looking statements as predictions of future events.  The forward-looking statements included in this press release speak only as of the date hereof and, subject to any continuing obligations under applicable law or any relevant stock exchange rules, we expressly disclaim any obligation to disseminate, after the date of this document, any updates or revisions to any such forward-looking statements to reflect any change in expectations or events, conditions or circumstances on which any such statements are based.

Contact:
Philip K. Yachmetz
Teligent, Inc.
(856) 776-4632
www.teligent.com

FAQ

What key event occurred regarding Teligent on June 30, 2021?

Teligent announced the adjournment of its Annual Meeting of Stockholders due to insufficient votes.

When will the Teligent Annual Meeting reconvene?

The Annual Meeting will reconvene on July 21, 2021, at 10:00 a.m. Eastern time.

Why was Teligent's Annual Meeting adjourned?

The meeting was adjourned because there were not enough votes to approve the proposals presented.

What is the record date for Teligent's stockholders eligible to vote?

The record date for eligible stockholders remains May 17, 2021.

How can Teligent stockholders vote?

Stockholders can vote via the Internet, by telephone, or by mail.