Press release
SINOVAC Board of Directors Strongly Denounces Deceptive and Illegal Claims by SAIF and the Imposter Former Board
Special Meeting was validly adjourned until the appropriate court can make a final decision on the validity of the PIPE shares SAIF’s “announcement” about
About this update from Sinovac Biotech, Ltd.
[{"type":"text","content":"\nSpecial Meeting was validly adjourned until the appropriate court can make a final decision on the validity of the PIPE shares\n\n\nSAIF’s “announcement” about voting results demonstrates blatant disregard for the law and the Company’s bylaws and a repeated pattern of self-serving and unlawful actions by the Imposter Former Board\n\n\nCurrent Board remains the only valid board of directors of the Company and will continue to govern SINOVAC\n\n\n BEIJING--(BUSINESS WIRE)--\nThe Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading biopharmaceutical company in China, categorically rejects the recent deceptive and illegal claims by SAIF and the Imposter Former Board that it purported to “reconvene” the adjourned Special Meeting of Shareholders (the “Special Meeting”) and announced sham voting results of the shareholder proposals.\n\n\nAt the July 8, 2025 Special Meeting, SINOVAC Chairman Chiang Li validly adjourned the meeting, to preserve the integrity of the Special Meeting and protect shareholder interests, pending the resolution of litigation in Antigua related to the validity of the 11.8 million shares purportedly issued following an invalid private investment in public equity (“PIPE”) to Advantech/Prime and Vivo Capital (together known as the “Dissenting Investor Group”).\n\n\nSINOVAC shareholders should ignore SAIF’s lies. SAIF and the Imposter Former Board did NOT have the authority or any legal basis to “reconvene” the Special Meeting following the valid adjournment. SAIF’s self-declaration of a final tally of shareholder votes was a complete sham. SINOVAC is evaluating its legal remedies with respect to the deceptive and unlawful conduct of SAIF and the Imposter Former Board, including with authorities in Antigua and the United States.\n\n\nWilliam P. Fiske, Head of M&A and Contested Situations at Georgeson, SINOVAC’s proxy solicitor, stated, “At the time of the Special Meeting, according to our preliminary voting tallies, the Company’s White Proxy Card secured overwhelming support from valid shareholders for the current SINOVAC Board. Had the injunction granted by the Antigua Court not been temporarily stayed, the shareholders would have voted in favor of the current SINOVAC Board.”\n\n\nSAIF and the Gold Proxy Card secured little support outside of the same incumbent group th...