Business
Response to Publication of Circular by ProBiotix
Response to Publication of Circular by ProBiotix.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n\nOptiBiotix Health plc\n \n(\"OptiBiotix\" or the \"Company\" or \"the Group\")\n \nResponse to Publication of Circular by ProBiotix Health plc\nOptiBiotix Health plc (AIM: OPTI) (\"OptiBiotix\") the life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, notes that ProBiotix Health plc (\"PBX\") has announced that it has published a circular to shareholders (the \"Circular\") containing details of a requisitioned general meeting of PBX (the \"Requisitioned General Meeting\"). The Requisitioned General Meeting will be held at 10:00 a.m. on 1 November 2024 at the offices of BPE Solicitors LLP, St James House, St James Square, Cheltenham, GL50 3PR.\nThe provisions of the Companies Act 2006 restrict the requisitioner of the meeting to including a statement of 1,000 words with the requisition notice. Despite specifically referring to the Seneca statement in the PBX RNS as an appendix, the Seneca supporting statement was not included in the RNS. We recommend that all shareholders in PBX read the Seneca statement carefully (which is included in the appendix to this announcement). Seneca is an institutional shareholder committed to creating long term value for its own investors with a highly experienced investment committee; Seneca behaves in a very objective manner and would not be taking this action absent compelling and urgent measures being needed to be taken to avoid detriment to shareholders. The statement from Seneca Partners is included in the Circular but given the length of the rebuttal produced by PBX we are publishing our own reasons for supporting the action taken by Seneca Partners.\nFor all the reasons given below we urge shareholders in PBX to support the resolution and to vote in favour of the resolutions, which we intend to do in respect of our holding of 53,533,333 ordinary shares in the capital of PBX representing 33.85% of the voting rights of PBX. In addition, Stephen O'Hara, Neil Davidson and Sean Christie intend to vote in favour of the resolutions in respect of their aggregate holding of 6,479,783 ordinary shares in the capital of PBX representing 4.10% of the voting rights of PBX. We also note that Mr Anderson does not hold any shares or options in PBX which we believe does not align his interest with the interests of PBX shareholders.\nThe rea...