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Board reviews strategic options to present to shareholders at shareholdersâ€™ meeting.
In their press release of 25 February 2009, Arpida communicated that the Board of Directors was in the process of reviewing all the options for the company’s future.
In preparation of the shareholders’ meeting on 7 May 2009, the Board wishes to update shareholders as follows:
At the shareholders’ meeting, the Board plans to present all available strategic choices, which could include the following options or a combination there of:
– reverse merger with another biotech business
– selling iclaprim and related assets
– tender offer for the entire company
– other options, including a return of capital
The Board believes that the currently depressed stock market may value the company as a whole less than the sum of its assets. It will therefore invite Arpida shareholders to select their preferred strategic option at the shareholders’ meeting on 7 May 2009.
The invitation and agenda for the AGM will be available from 15 April 2009.