In a press release shared on PR Newswire and published from NEW YORK on Feb. 16, 2024, Yi Zhang and shareholders representing over 59.2% of the outstanding shares of YS Biopharma Co., Ltd. (the “Company” or “YS”) (NASDAQ: YS) (the “Convening Shareholders”) announced the successful approval of all resolutions at the YS Extraordinary General Meeting of Shareholders (“EGM”) held today. A total of 62,132,308 shares out of 93,058,197 total outstanding shares of YS voted in the EGM, which represents 66.8% of all outstanding shares. It was reported that prior to the EGM, individuals who claimed to be representatives of the Company intended to disrupt the business for which the EGM was convened. As a result, they were not permitted to enter the premises where the EGM was noticed to be held.
The resolutions passed by the shareholders at the EGM include the removal of several directors from office and the election of seven new nominees as directors of the Company. The number of shares voted in person or by proxy on the resolutions indicates overwhelming support for the changes made.
Yi Zhang extended thanks to fellow shareholders for their support in achieving this positive outcome. He emphasized that these actions underscore shareholder disapproval of the prior board of directors of the Company and their disregard for shareholder perspectives.
Details of the meeting’s resolutions are available in the circular released prior to the EGM. In addition, the newly elected board of directors immediately voted to effect several resolutions, including the appointment of Yi Zhang as the chairperson of the board, removal of certain directors from relevant committees, and the appointment of new members to various committees.
Forward-Looking Statements
In discussing future opportunities, it is important to mention that this release contains forward-looking statements. All statements other than historical facts included in this release are forward-looking statements. It highlights that these statements involve risks, uncertainties, and other factors that may cause actual results and achievements to differ from those projected.
Yi Zhang and shareholders maintain a commitment to transparency and will not update any forward-looking statements without reason as required by law.
SOURCE Yi Zhang
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