Court Enjoins Thieme Brothers and Postpones Annual Meeting
Friday August 8, 11:45 am ET
NAPA, Calif., Aug. 8 /PRNewswire-FirstCall/ -- Senetek PLC (Nasdaq: SNTK - News) announced that on August 7, 2003, the Federal District Court for the Northern District of California postponed Senetek's Annual General Meeting scheduled for August 8 until November 5, 2003 as part of the Court's action enjoining Uwe Thieme, a Senetek director, and his brother, Heiko Thieme, from soliciting proxies in connection with their attempt to elect an employee of Heiko Thieme to the Senetek board and to remove three incumbent directors.
The court's action was taken in response to the complaint filed by Senetek on August 6, 2003, in the United States District Court for the Northern District of California against Uwe Thieme and Heiko Thieme alleging, among other things, that the defendants engaged in the solicitation of proxies in connection with the Annual General Meeting scheduled for August 8 in a manner which violated the federal securities laws. In its complaint, Senetek requested, among other things, that the Court enter a temporary restraining order and an injunction invalidating any proxies or voting instructions obtained through the defendants' solicitations in violation of law, prohibiting the defendants from making any further solicitations in violation of law, requiring the defendants to file a proxy statement in compliance with law and postponing the Annual General Meeting until after the filing of a proper proxy statement by the defendants.
Following a hearing on August 7 before the Federal District Court for the Northern District of California with respect to the matters set forth in Senetek's complaint, Federal District Judge Marilynn Hall Patel ordered the postponement of the Annual General Meeting to November 5, 2003, prohibited the defendants from soliciting any additional proxies with respect to the Annual General Meeting until the later of August 22, 2003 or the date on which the defendants have filed a definitive proxy statement with the Securities and Exchange Commission in accordance with law, and prohibited Senetek from soliciting additional proxies with respect to the Annual General Meeting until the earlier of August 22, 2003 or the date on which the defendants have filed a definitive proxy statement with the Securities and Exchange Commission in accordance with law.
Senetek PLC (Nasdaq: SNTK - News), www.senetekplc.com , is a biopharmaceutical company focused on developing and co-marketing products in the key skincare/dermatologicals and sexual dysfunction categories worldwide.
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Safe Harbor Statement:
This news release may contain statements that may be considered "forward-looking statements" under the federal securities laws, including statements concerning the Company's financial stability, its expectations of continued growth and profitability and its intent to expand its overseas business. Forward-looking statements by their nature involve substantial uncertainty and there can be no assurance that actual results or events will not differ materially from those in the forward-looking statements as a result of various factors, including the risks and uncertainties described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001 and Quarterly Reports of Form 10-Q for the subsequent calendar quarters of 2002, filed with the Securities and Exchange Commission. In addition, while the Company has attempted to identify in those filings the principal factors that it believes could result in such material differences, there can be no assurance that it has identified all of such factors or all of the ways in which such factors may affect future results or events.
Source: Senetek PLC |
