YS Biopharma Responds To Unauthorized PR Regarding Extraordinary General Meeting; Says Yi Zhang Is Not The Chairperson And Does Not Have Any Authority To Call General Meeting Of Shareholders
Portfolio Pulse from Benzinga Newsdesk
YS Biopharma has issued a response to an unauthorized press release regarding an Extraordinary General Meeting (EGM). The company clarified that Yi Zhang is not the Chairperson of the Board and does not have the authority to call for a shareholders' meeting. The company's Form 6-K filing with the SEC on December 12, 2023, confirms the current Board composition, with Ajit Shetty as the Interim Chairperson, and no EGM scheduled for December 28, 2023.
December 20, 2023 | 9:37 pm
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POSITIVE IMPACT
YS Biopharma has denied the legitimacy of a press release about an unauthorized EGM and confirmed that Yi Zhang is not the Chairperson. The company's official stance may reassure investors about its governance practices.
The clarification from YS Biopharma regarding the unauthorized press release and the confirmation of the Board's composition may instill confidence in the company's governance among investors. This could have a positive short-term impact on the stock as it alleviates concerns about potential internal disputes or miscommunication.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100