Nabi Biopharmaceuticals Announces Adjournment Of Special Meeting Of Stockholders Until October 22, 2012
ROCKVILLE, Md., Sept. 24, 2012 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI) today announced that its Special Meeting of Stockholders scheduled for September 24, 2012 has been adjourned to provide additional time to solicit proxies to approve the proposals (the "Proposals") set forth in Nabi's definitive proxy materials dated August 7, 2012, filed by Nabi with the U.S. Securities and Exchange Commission (the "SEC") in connection with the proposed business combination transaction between Nabi and Biota Holdings Limited (ASX:BTA.AX) (the "Transaction"). Nabi stated that it had convened the Special Meeting as originally scheduled but adjourned the meeting due to the absence of a quorum. The Special Meeting will be reconvened at The Bethesda Marriott Hotel, 5151 Pooks Hill Road, Bethesda, Maryland on October 22, 2012, at 4:30 p.m. local time.
The record date for stockholders entitled to vote at the adjourned Special Meeting remains August 3, 2012.
As previously announced, Nabi and Biota entered into an amendment deed to the merger implementation agreement, dated April 22, 2012. Nabi intends to file with the SEC and disseminate to its stockholders a supplement (the "Supplement") to the definitive proxy statement, dated August 7, 2012, that will describe the amended terms of the merger implementation agreement and provide related relevant information.Nabi's Board of Directors has unanimously reaffirmed its belief that the Transaction and the related transactions are advisable and in the best interests of Nabi and its stockholders, and unanimously recommends that you vote "FOR" each of the Proposals. Mangrove Partners Fund, L.P. and certain of its affiliates (collectively, "Mangrove"), which own approximately 4% of the outstanding shares of Nabi common stock and had previously opposed the Transaction, have entered into a support agreement with Nabi pursuant to which Mangrove has agreed to terminate its solicitation in opposition to the Transaction and to support the Transaction, as amended.
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