30 Oct 2012, BioSpectrum Bureau , BioSpectrum
Singapore: Institutional and retail investors of Bioxyne re-elected chairman Mr Ian Mutton and managing director Mr David Radford at a general meeting called by shareholders.
Resolution outcomes were as expected from proxies lodged by Sunday with the striking exception of Mr Crisp, who saw a last minute swing of over 45 million votes to remove him after his role as chair of the meeting.
The outcome sees highly reputed international biotech investor Dr Jeremy Curnock Cook removed from the board and highly respected biotech industry ex CEO Dr Stewart Washer refused a board position.
While the impetus behind the general meeting was 20 percent shareholder Octa Phillip Bioscience Managers, other substantial shareholders and a large number of retail investors supported a halt to the cash burn and ensure the company has the most industry experienced Board moving forward.
There were also alarming lacks of disclosure and irregularities that became apparent in the lead up to today's stoush. The full results of the failed clinical trial have still not been made available to the market.