Amylin (AMLN) Reports Preliminary Tabulation of Annual Meeting Results
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Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) today announced that IVS Associates, Inc., the independent Inspector of Elections for the Company's Annual Meeting of Stockholders held May 27, 2009, has completed its preliminary tabulation of shareholder votes.
The preliminary tabulation indicates that shareholders voted to re-elect eight of the Company's current Directors to Amylin's Board of Directors - Adrian Adams, Steven R. Altman, Teresa Beck, Daniel M. Bradbury, Karin Eastham, Dr. James R. Gavin III, Dr. Jay S. Skyler, and Joseph P. Sullivan, as well as voted to elect its two new independent nominees, Paul N. Clark and Paulo F. Costa. In addition, Dr. Kathleen Behrens and Dr. Alexander J. Denner, Director candidates nominated by Eastbourne Capital Management, L.L.C. and Carl Icahn, respectively, were also elected to the Board. Joseph C. Cook, Jr., Amylin's Chairman, and James N. Wilson, Amylin's Lead Independent Director, were not re-elected to the Board.
Separately, IVS also reported the preliminary tabulation of the other proposals voted on at the Annual Meeting:
- Approval of the Company's 2009 Equity Incentive Plan.
- Approval of an increase of 1,500,000 shares in the aggregate number of shares of the Company's common stock authorized for issuance under the Company's 2001 Employee Stock Purchase Plan.
- Ratification of the selection of Ernst & Young LLP as the independent registered public accounting firm of the Company for its fiscal year ending December 31, 2009.
- Rejection of Mr. Icahn's proposal to change the Company's jurisdiction of incorporation from Delaware to North Dakota.
We thank all our shareholders for their support and greatly appreciate the valuable insights offered to our Board and management team. We are also grateful for the significant contributions and guidance provided by outgoing Directors Joe Cook and Jim Wilson. Their industry knowledge, expertise and leadership have been important assets to Amylin over their many years of service, and we wish them well in their future endeavors.
All of us at Amylin remain deeply committed to building long-term value for all of our shareholders, especially through the anticipated launch of exenatide once weekly, our investigational therapy that has the potential to significantly advance the treatment of type 2 diabetes. We look forward to working with all our new Directors to bring transformational medicines to patients and to drive sustainable and profitable growth.
Voting results on Director elections and all proposals will be finalized once they are certified by the Inspector following a customary review and challenge period. A final tally of the votes will be published in the Company's next quarterly report on Form 10-Q which will be filed with the Securities and Exchange Commission in August.
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