DIVISION AT LIVING CELL AGM
November 9th 2008 01:29
Friday November 7, 2008
Daily news on ASX-listed biotechnology companies
* ASX, BIOTECHS DOWN: GENETIC TECHNO UP 40%, CYTOPIA DOWN 21%
* BIOTECH DAILY IS THREE
* DIVISION AT LIVING CELL AGM
* OCCUPATIONAL & MEDICAL RAISES $503k
* BIO-MELBOURNE REMINDER: STRATEGIC COMMUNICATIONS
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LIVING CELL TECHNOLOGIES
Despite a very good year for Living Cell a large minority of shareholders have opposed all annual general meeting resolutions except the reelection of founder David Collinson.
Living Cell has had positive results from its Russian xenotransplant Type 1 Diabetes trial and last month received New Zealand approval for the first Western world xenotransplant trial of porcine islets of Langerhans to treat Type 1 diabetes (see Biotech Daily October 28, 2008).
The remuneration report was opposed by 13,649,118 proxy votes with 31,448,111 proxy votes in favor.
The resolution to issue options to chief executive officer Dr Robert Caspari was similarly divided.
The reelection of chairman Simon O’Loughlin was opposed by 25,810,891 proxy votes, while Mr Collinson was reelected with 45,158,779 votes ion favor and no proxy votes against.
Only the reelection of Mr O’Loughlin was opposed on a show of hands in the meeting, with the other three resolutions carried unanimously on a show of hands.
Living Cell fell half a cent or 2.63 percent to 18.5 cents.
To read all these articles in full, subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
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