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caddie, yeah but under different fund names and another person Mr Sterling, 117,772 which is beneficially included in Sarissa Capital. I'm trying to make sense of the share count that is owned in total it's very confusing if I didn't double count I come up with 79mill plus. I guess we'll find out exactly when the 13D's are filed.
MMS, I'm cracking open a bottle of Opus One tonight to celebrate. It's only taken a 1 1/2 year of holding my breath for this day to happen. But what I find sooooo amusing is that Denner filed on the same day that KM is presenting at the JP Morgan conf. And PR's positive news about preliminary earnings too. It goes to show you how tough he plays. It's like UP YOURS.
Michael. No truer words have been spoken. Denner is calling for 7 bod to resign. Bingo!
MMS, I had to pay and sign on again to start my 16th post!!! But it's worth it
What a shock that Denner has finally answered out calls for a special meeting!!! Funny cause I was thinking today for the first time that all was well with AMRN and Denner. How foolish of me!!!!
What a f--king zinger Denner just pulled. Ouch I wonder if KM will still appear at the JP Morgan conf?
BRIEF-Sarissa Capital Submits Notice To Call A Special Meeting Of Amarin Shareholders To Add Directors And Remove Chairman Per Wold-Olsen
REUTERS 1:37 PM ET 1/10/2023
Jan 10 (Reuters) - SARISSA CAPITAL:
* SARISSA CAPITAL SUBMITS NOTICE TO CALL A SPECIAL MEETING OF AMARIN SHAREHOLDERS TO ADD DIRECTORS AND REMOVE CHAIRMAN PER WOLD-OLSEN
* SARISSA CAPITAL - HAS SUBMITTED NOTICE TO AMARIN UNDER UK LAW TO CALL SPECIAL MEETING OF SHAREHOLDERS TO ADD 7 DIRECTORS TO BOARD Further company coverage:
(c) Copyright Thomson Reuters 2023. Click For Restrictions - https://agency.reuters.com/en/copyright.html
Sarissa Capital Management LP (“Sarissa Capital”), together with the other participants named herein (collectively, “Sarissa”), intends to file a preliminary proxy statement and accompanying proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes for the election of its slate of highly-qualified nominees as directors of Amarin Corporation plc(AMRN) (the “Company”), at a special meeting of shareholders of the Company. SARISSA STRONGLY ADVISES ALL SHAREHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS’ PROXY SOLICITOR, THE IDENTITY AND CONTACT INFORMATION FOR WHICH WILL BE SET FORTH IN THE PROXY STATEMENT THAT WILL BE MADE AVAILABLE TO SHAREHOLDERS.
The participants in the proxy solicitation are anticipated to include Sarissa Capital, Sarissa Capital Offshore Master Fund LP (“Offshore”), Sarissa Capital Master Fund II LP (“Master II”), Sarissa Capital Athena Offshore Fund Ltd (“Athena”), Sarissa Capital Catapult Fund LLC (“Catapult”), Sarissa Capital Hawkeye Fund LP (“Hawkeye”), ISP Fund LP (“ISP”), Atom Master Fund LP (“Atom”), Sarissa Capital Management GP LLC (“Management GP”), Sarissa Capital Offshore Fund GP LLC (“Offshore GP”), Sarissa Capital Fund GP LP (“Fund GP LP”), Sarissa Capital Fund GP LLC (“Fund GP LLC”), Dr. Alexander J. Denner, Patrice Bonfiglio, Dr. Paul Cohen, Mark DiPaolo, Keith L. Horn, Odysseas Kostas, Louis Sterling III and Diane E. Sullivan.
As of the date hereof and subject to the further explanatory information set forth in this paragraph, funds and other investment vehicles affiliated with Sarissa Capital and Dr. Denner may be deemed to beneficially own, within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), 25,210,000 ordinary shares, par value 50 pence per share, of the Company (the “Shares”), as more fully described below. In addition, as of the date hereof, Mr. Sterling may be deemed to separately beneficially own, within the meaning of Rule 13d-3 under the Exchange Act, 117,772 Shares. Given Mr. Sterling’s beneficial ownership of Shares, he and the funds and other investment vehicles affiliated with Sarissa Capital and Dr. Denner may be deemed to have formed a group within the meaning of Rule 13d-5(b) under the Exchange Act. The number of Shares stated herein that may be deemed to be beneficially owned by Mr. Sterling does not include Shares that may be deemed to be beneficially owned by such funds and other investment vehicles, and the number of Shares stated herein that may be deemed to be beneficially owned by such funds and other investment vehicles does not include Shares that may be deemed to be beneficially owned by Mr. Sterling. Subject to the preceding sentence, as of the date hereof, the number of Shares that may be deemed to be beneficially owned, within the meaning of Rule 13d-3 under the Exchange Act, by funds and other investment vehicles affiliated with Sarissa Capital and Dr. Denner is as follows:
Sarissa Capital
25,210,000
Offshore
6,188,100
Master II
342,600
Athena
3,164,000
Catapult
4,298,200
Hawkeye
3,928,800
ISP
6,663,377
Atom
624,923
Management GP
25,210,000
Offshore GP
9,694,700
Fund GP LP
17,921,700
Fund GP LLC
17,921,700
Dr. Denner
25,210,000
Sarissa Capital Submits Notice to Call a Special Meeting of Amarin Shareholders to Add Directors and Remove Chairman Per Wold-Olsen
BUSINESS WIRE 1:34 PM ET 1/10/2023
Symbol Last Price Change
AMRN 1.76down +0.28 (+18.9189%)
QUOTES AS OF 01:33:42 PM ET 01/10/2023
Sarissa believes current board lacks any remaining credibility for representing shareholders
Sarissa is astonished that Amarin(AMRN) board refuses to add shareholder representatives
GREENWICH, Conn.--(BUSINESS WIRE)-- Sarissa Capital Management LP (“Sarissa”) today made the following statement on Amarin Corporation plc(AMRN) :
At the last shareholder meeting, the shareholders, the owners of the company, loudly expressed their lack of faith in the board and management. Sarissa sought to place shareholder representatives on the board and engaged with the company in what turned out to be months of simply lip service by the board, led by its Chairman Per Wold-Olsen. Despite Sarissa having a track record of creating significant shareholder value in healthcare companies, including those with cardiovascular drugs such as The Medicines Company, Amarin’s board rejected adding any shareholder representatives to the board in favor of their own candidates, including today’s addition of a board candidate without any input from Sarissa, Amarin’s largest shareholder.
Amarin’s acknowledgement of its need for board refreshment is a positive step in recognizing the company’s many mishaps and the board’s own entrenchment. However, after months of back and forth, it is clear to us that this board refreshment process was a charade led by Chairman Per Wold-Olsen.
Sarissa is astounded by Amarin’s blatant disregard for shareholders. The board’s actions epitomize poor governance. We believe that they do not understand a board’s mission and duties to shareholders, the owners of the company. We can only conclude that Amarin’s board does not seek real change and instead wants to remain entrenched at the expense of shareholders.
Sarissa has submitted notice to Amarin(AMRN) under UK law to call a special meeting of shareholders to add 7 directors to the board and to remove Chairman Per Wold-Olsen from the board. In the event that the Amarin(AMRN) board attempts the contemptible act of continuing to entrench themselves by filling any of the vacancies on the board, takes any other actions in violation of their fiduciary duties or interferes with Sarissa’s exercise of its shareholder rights, Sarissa will initiate immediate legal action to hold all directors (including those added to the board) personally accountable to the fullest extent of the law. Such an act by the board would be the ultimate betrayal to shareholders. Sarissa will also seek to remove those directors appointed by the board in order to create the vacancies necessary to add Sarissa’s nominees to the board. We are asking all shareholders to remain
jroon, I used google chrome rather than firefox or bing and this is still a little funky, don't you think...LOL
https://amarincorp.com/about-amarin/leadership
Well look at this!!! More PR. Humm
Greetings from #SF! Reminder: Our President and CEO, Karim Mikhail will be presenting today at #JPM23. Watch the webcast live at 8:15 p.m. ET/ 5:15 p.m. PST: https://t.co/pdPtScjHiY pic.twitter.com/da5WcQVt8k
— Amarin (@Amarincorp) January 10, 2023
jroon, I tried the website again and it takes forever to load and navigate from one page to another. Could it be my settings causing it to be slow?
md3434, huge. I don't know the stats but it can't be good. Also, the company has the right to sublet but in their lease, it states the landlord has the right to refuse any corporation that doesn't meet their criteria.
invest83, wouldn't it be interesting if the company places Denner on the board without a proxy fight. The company may have reversed its stance and accepted Denner's help. This turnaround has certainly caught many by surprise now all we need is for the company to start talking about revs in the EU countries where pricing has been approved. Then a combo pill in 2023, maybe that's why they're maintaining the Bridgewater lease??? Thinking out loud....
FYI, I wrote a not so nice email to IR last night complaining about the f--kd up website and about 30 minutes later I received a reply asking for info on how it shows up in the public domain. I think they went back to the old website. I told them that it was an embarrassment especially since the JP Morgan conf was being held today. Little did I know they were going to preannounce this AM, LOL
nuke, depends on what your $ threshold is in order for you to hit that donut hole amount. But it can't hurt to ask anyway. But it is an interesting fact about the 100 day script it's like a secret no one knows about. By the way, it was my PBM person who mentioned the 100 day script. Good Luck!
nuke, once your NP renews your script or updates it to 100 days afterwards as it expires they will automatically fill it for 100 days. Let me know how it goes. And yes what a pleasant surprise that Amarin may be worth a look for BP to consider partnering in certain regions of the EU or ROW!!!
nuke, so my ins person explained it this way. Toward the end of 2022 I was paying a little more for V so I called to ask if they had a price increase, it turns out that I was in the "donut hole" which is I hit my $ limit allowed before year end so my deducible increased resulting in me paying more for my scripts. She explained that if I changed my script to 100 days I would get 10 additional days free and still pay the $90 for 3 months but get 100 days instead of 90 days. At the end of this year I won't hit the donut hole cause of the extra free days which will hold me over to 2024. I hope I explained it so you can grasp the concept. If not let me know. Of course this only applies to Medicare Part D and your ins plan.
But actually it would be advantageous for everyone to order the max amount of 100 days which I never knew could be done.
jroon, could it be because of the US SEC rules? Not to say they can't downsize to a 1K sq ft space just to have a US address. Actually, it's so involved legally to change their state of incorporation that it may not be worth the effort.
CBB, KM can't talk about the effects V has a covid. It would be promotional and an assumption. Not a good look. But if there were trials etc with positive results then maybe???
jroon, as you may recall I've been pounding the table about the amount of money they spend on the 67K sq ft lease in Bridgewater. Ask DownTownGuy he made an in person visit to Bridgewater office it was like something out of the twilight zone. They don't need that space.
Nuke, my ins company recommended changing my script to 100 day. I pay 3 times $90. But it reduces my annual cost and I get 10 days free so I don't get caught in the so called donut hole once I go over a certain amt at yr end I pay more. Now I dont go over that amt.
Jroon, I saw that news didn't make the connection. SON OF A b-tch
Has anyone tried Amarin's new website? What a mess. Very embarrassing for the company that is presenting at the JP Morgan conf. I tried to sign on for tomorrow's conf. after filling out all the required fields they send you an email to verify if you actually are real and it rejects my reply! LOL
At the bottom of the site there's a greyed out name of the administrator and phone number I'm tempted to call them to tell them what a sh-t job they did with the new rollout of the updated website. I'm going to email IR to blast them too. Wasted money again.
jroon, Schadenfreude is a perfect word for the AssHat. Oh but wait he'll show up on Wed. after the JPMorgan conf when the stock declines and tells the world how many shares he shorted then covered for a really really BIG profit! Tee Hee
GeeWiz, wonder what happened to I WANDERER??? Maybe trying to cover his short with low vol today???? As Cohodes would say AssHat!
The beta site needs much improvement. I get their thinking about updating the website but they should never roll out the public website without fully testing their beta site. The page with the management is scary their faces are cut in half and no bios.
This isn't a good look just before the JP Morgan conference...cringe. So freakin typically of Amarin.
;-(
north, this is great news for our buddy Denner. He has much at stake. I happen to get lucky and bought a few shs. Let's hope 2023 is a better year than '22!
KnowNothing, Yup, I recall now that you mention the price...that was a brilliant idea. LOL
meowzo, sounds like a good idea to me, oh but wait KG wouldn't be able to cover their tracks and make 12% in a year. Crooks that they are...Nothing is what it seems to be, including AMRN
knownothing, I think FFS blew up when the SBF/FTX went puff. Do you recall his post from months ago when he suggested AMRN buy bitcoin like MSTR.... they would have made trillions!!! HeHe Up in Smoke.
scxj, Thanks, he made it sound like amrn is working with Denner???? I think that's an assumption on his part. He should do his research! Silly man.
Michael, maybe he knows a little more about the HN settlement than we do. Just a guess, I'll know more when I read his report.
hey does anyone have access to the written upgrade from Yee? I wonder what changed his opinion?
Skip, thx my news feed didnt mention price target. I'm sure they'll be more details to follow.
UPGRADE: Amarin (AMRN) upgraded by Jefferies from Hold to Buy.
Why no price target????
TTE, Denner has maybe 13 major investments according to his 13F filings. He knows exactly what he invested in e g Amarin. He's in no rush to move forward till all the pieces of the puzzle are in place. Keep in mind he is an Icahn protégé.
alwayswatching, BB liquidation is part of the Lars Ekman departure they no longer have any interest in amarin. Nothing more nothing less. They are gone and that's a good thing. The newly appointed board members are not Denner friendly. But as it says in the 8 K it has been arranged back in Oct that they would be permanent once the Ekman and O'Sullivan depart.
The new universal proxy rules will come into play this year for their annual meeting. I was hoping we wouldn't have to wait that long to see the proxy filing but besides the special meeting being called, that's our only hope for change in management.
capt, I didn't know Amarin has an advisory board
Acknowledgments
Medical writing assistance and editorial
support were provided by Noud van
Helmond, MD, PhD, Lilly Shelomyanov,
MS, and Sherri Damlo, MS, ELS, of Peloton
Advantage, LLC, an OPEN Health company,
Parsippany, NJ, and funded by Amarin
Pharma, Inc., Bridgewater, NJ.
Conflict of interest disclosure
JRN is on the speakers bureau for Amarin
Pharma, Inc., Amgen, and Esperion. He is a
stockholder of Amgen and on the advisory
board for Amarin Pharma, Inc. MJB is on the
speakers bureau for Amarin Pharma, Inc
Meowzo, yup healthy with no underlying conditions. I'm very fortunate.
capt, BBI, she has a huge following too over 22K. Anyone know her identity?
FYI, I recently had covid and felt like a cold. No big deal and attribute rapid recovery to V. I have zero boosters. Got sick with the 2 jabs a few years ago therefore NO boosters.
BBI, Capt has all the data, maybe he can help out?