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Jonathan Milner, founder of Abcam (NASDAQ:ABCM) and a former director of the company, plans to call for an extraordinary general meeting to win election to the board as executive chairman.
In a letter to shareholders earlier Wednesday, he said he was disappointed with the company’s recent performance.
According to an Abcam (ABCM) news release in response, Milner first requested for board re-appointment on April 28 “less than three weeks prior to the Company’s Annual General Meeting and after the date he could have requisitioned a resolution at the AGM to achieve his aims.”
That meeting was earlier Wednesday.
“After informing Dr. Milner that the Board was inclined to appoint him, he immediately rejected such invitation and then requested to be named Executive Chairman, replacing the current Chairman,” the company said.
“The Company is disappointed that despite the Board’s clear and consistent efforts to engage constructively with Dr. Milner, he has instead pursued aggressive tactics as he seeks to force the Company to agree to his demands,” Abcam noted.
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