OcuP BioM stated on June 26 that its acquisition of Adbiotech "is not a matter requiring a special resolution and the acquisition process is being carried out transparently."
The company explained, "According to legal counsel, the subscription of new shares in Adbiotech does not constitute the transfer or acquisition of all or a significant part of the business or assets. Therefore, it is not a matter requiring a special resolution under Article 374 of the Commercial Act or under our articles of incorporation." The company added, "Discussions and sharing of opinions regarding the acquisition of a listed company have been ongoing within the board of directors for several months."
An OcuP BioM representative further explained, "The director recommended by Quest Pharmatech (QPT) is also currently a member of the board. Since all board procedures and discussions have been shared together, it is not appropriate to raise procedural issues."
The company also emphasized, "As we have acquired a listed company watched by tens of thousands of shareholders, we are maintaining a level of transparent and fair governance that is appropriate for such circumstances. Shareholder representatives also participate directly in the board and are involved in major decision-making processes."
The company stated that if QPT's claims are genuinely aimed at contributing to the company's development, it is willing to thoroughly review and discuss such proposals.
An OcuP BioM official said, "We prioritize the protection of the rights and interests of all shareholders, not just those of specific parties," adding, "We will continue to operate in a transparent and responsible manner."
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