- The SINOVAC Board urges shareholders to vote against proposals that aim to remove its current board.
- A Special Meeting of Shareholders is scheduled for July 9, 2025, at 8:00 a.m. China Standard Time.
- The dissenting investor group is attempting a hostile takeover, but SINOVAC remains focused on shareholder value.
The Board of Directors of SINOVAC Biotech Ltd. (SVA, Financial), a prominent biopharmaceutical company in China, has officially filed its proxy materials with the Securities and Exchange Commission (SEC). This step comes in preparation for a crucial Special Meeting of Shareholders scheduled for July 9, 2025, at 8:00 a.m. China Standard Time. The Board, in their communication with shareholders, emphasized the importance of voting on the WHITE proxy card and urged a vote against two proposals: one to remove the current Board and another to appoint a new board described as the "Reconstituted Imposter Former Board Slate."
The ongoing situation involves a dissenting investor group, led by Advantech/Prime Success and Vivo Capital, which aims to remove the existing SINOVAC Board. However, the Board has expressed its commitment to ensuring fairness and delivering value to SINOVAC shareholders, urging them to support the current leadership to maintain stability and growth.
SINOVAC (SVA, Financial) is recognized for its research, development, manufacturing, and commercialization of vaccines, including the globally distributed COVID-19 vaccine CoronaVac®. Despite current challenges from opposing investor factions, the Board remains focused on SINOVAC's long-term strategies and shareholder returns.
The proxy statement and related materials have been made available on the SEC's website and SINOVAC's official site. Shareholders are encouraged to review these documents to make informed decisions. For any queries regarding the voting process, shareholders can reach out to the company's proxy solicitor, Georgeson LLC.
