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ARTICLE | Company News

Bioniche cancer news

July 15, 2013 7:00 AM UTC

Bioniche said that dissident shareholders are trying to set a date for a shareholder meeting in August. Bioniche said the move constitutes an "inappropriate and invalid" step given that the company's scheduled annual meeting is set for Nov. 5 and that the dissident shareholders have already initiated court proceedings to try and force a meeting date earlier than the company. Bioniche said that the dissident shareholders' move to announce an August meeting is "in total disregard for the court process." The company said the dissident shareholders are "attempting to derail the company's value-creating efforts," which include the sale of Bioniche's animal health business, which the "dissidents wish to control and exploit for their own benefit." Bioniche said the dissident shareholders are former Biovail Corp. CEO William Wells and former Biovail SVP Greg Gubitz, who own about 6 million shares of Bioniche, or about 6% of Bioniche based on 105.5 million shares outstanding. ...