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Jasbg. The company is desperate. I assume sarrisa is correct otherwise they just can't claim something that isn't true. Not worth the consequences.
Funnygi I'm 100% Italia but parents shared different dialects. Speaka the english. Fyi, my neighbor was Tony Soprano. Loved that famiglia
funnygi2, OK let the truth be told. I'm Italian and a Jersey Shore Girl....love her last name. But hey what's not to like in a last name with all vowels!
MMS. so my take on this mess with blue vs white is because Amarin's solicitors are keeping track of the shareholder's list they know who hasn't voted yet so they will continue to send the white proxy card till they get an answer from the shareholder such as e. g. I voted for blue or I'm still undecided. Then the solicitors will lean on the person to convince them to vote white.
I wonder what kind of reputation OKAPI has. I've never heard of them but that doesn't mean anything.
I have heard of DF King a good reputation and is above board.
The article mentioned in the latest filing by Amarin is "The Deal"
They have 40,000 subscribers. I wonder who paid them to write that lame article?
The Deal LLC is a media company that offers The Deal Pipeline, a transaction information service, and formerly published finance and business magazine The Deal.
Circulation: 40,000
Company: Euromoney Institutional Investor
Editor-in-chief: Robert Teitelman
First issue: September 1999
birdrock, thanks for your DD. The latest filing by Sarissa is shocking. I read that you've been in the market for a while. It's exhausting to constantly explain the same issues over and over again. You're doing a good job stay at it.
For those who are still in the Amarin camp and are voting to keep the current BOD in place please read this latest filing.
http://archive.fast-edgar.com/20230215/AD2FL22CZ222M2LZ272I2M42AAS2ZC22Z252
Filed on: February 15, 2023
Birdrock, sleven posted a Nasdaq link with an incorrect number. That's what I was referencing.
I understand filings. Thx
Capt, thanks. That a dangerous mistake to make especially at this critical juncture.
sleven, one of these filings is incorrect. I assume NASDAQ is a miss print.
https://whalewisdom.com/filer/sarissa-capital-management-lp#tabholdings_tab_link
birdrock, you are totally correct. The non stop white proxy cards continue and the webinar was a complete flop. In between posts I read where Sleven thinks the Sarissa team are pirates. So sorry sleven but everyone is entitled to their own opinion. With all due respect, I totally disagree. If Sarissa doesn't win this proxy contest or a quorum is not met Sarissa will start again with another proxy contest. Sarissa will save this company, not the current BOD. Are you willing to lose all your investment cause you agree with someone who knows nothing about Wall St?
Kiwi, it would be a disaster if sarissa loses.
rosemount, whoever is their communications person is very professional yet has a good sense of using plain language to explain why we need to vote FOR regardless of using the blue proxy or the white proxy.
don't know if this has been posted, sorry if so.
https://www.fiercepharma.com/pharma/amarin-activist-investor-sarissa-joust-proxy-vote-approaches
Sarissa Capital Disappointed That Amarin Webcast Continues Board’s Defense of Poor Results and Lack of Accountability
BUSINESS WIRE 5:09 PM ET 2/14/2023
Symbol Last Price Change
AMRN 1.96up 0 (0%)
QUOTES AS OF 04:00:00 PM ET 02/14/2023
Sarissa Believes Amarin Board Missed an Opportunity for its First True Engagement with Frustrated Shareholder Base
Sarissa Points to Several Statements Made by the Amarin Board Which Demonstrate a Complete Lack of Understanding of the Reality for Amarin Shareholders
GREENWICH, Conn.--(BUSINESS WIRE)-- Sarissa Capital Management LP (“Sarissa”) today issued the following statement regarding Amarin Corporation plc(AMRN) :
Sarissa Capital believes that today’s Amarin(AMRN) webcast was yet again tone-deaf to shareholders and another display by management of a lack of accountability for its poor performance. Today’s webcast was a missed opportunity for Amarin(AMRN) leadership to truly engage with frustrated shareholders, take accountability for their numerous missteps and embrace the benefits of shareholder representation and oversight. Instead, the board astonishingly contends that they are doing a great job and should change nothing going forward.
The board made many head scratching statements that fortify our belief that necessary change will not occur under current leadership.
CEO Karim Mikhail stated today: “…we have delivered this year on every objective we had in a consistent way.” Meanwhile, shareholders have suffered greatly. In 2022 alone, shareholders lost >$840M in value due to repeated missteps by management.*
CEO Karim Mikhail also stated that shareholder engagement has been a top priority for the company since day 1 of his tenure. This is the first time in his two-year tenure that the company hosted a webcast aimed at its retail shareholder base.
Board Member Erin Enright indicated they were “quite quick” on cost cutting, including in the face of an expected 3rd generic in January 2022. Even after it took Amarin(AMRN) 6 months to announce a cost reduction plan. This is NOT “quite quick.” Watching weekly prescription volume does not equal preparedness for a plan to act.
Board Member Erin Enright also indicated Amarin’s high compensation levels in the face of the company’s poor results are warranted. Unfortunately for Amarin(AMRN) shareholders sometimes you DON’T get what you pay for:
CEO Karim Mikhail was paid >$5.8M in total compensation in 2021 when the stock declined >31% and shareholders lost >$560M in value. †
Chairman Per Wold-Olsen was granted approximately $1M in compensation in 2022 when the stock lost >64% of its value that year. †
Board Member Adam Berger applauded the company’s boots on the ground efforts in China. Yet, years after Amarin(AMRN) submitted Vascepa, it is still not approved in China despite years of missing its guidance.
Amarin (AMRN) was unable to secure German reimbursement and continues to blame external factors without taking any accountability. Novartis, a global biopharmaceutical company with vast experience commercialization in Europe had a different view of Germany, recently stating “…Germany has had some headwinds. But overall, the German environment, we’d say, is relatively positive and workable… I think Germany remains [a] most attractive market.”‡
Board Member Erin Enright claimed that spending >$7M for this campaign was necessary given the “diffuse shareholder base.” Conversely, Sarissa has spent approximately $1M and has effectively communicated with shareholders, who have shared their frustration with us on the lack of progress and accountability at Amarin(AMRN). Either Amarin(AMRN) does not know how to spend money efficiently or does not care about shareholders’ money.
Amarin (AMRN) is in dire need of change. It is clear to us that current Amarin(AMRN) leadership will not fix the problems at Amarin(AMRN) because they do not believe that any problems exist. This harsh reality for shareholders was made painfully apparent on today’s webcast where board members eschewed any accountability for the company’s current situation and urged shareholders to stay the course – a course that to date has resulted in tremendous destruction of shareholder value. Sarissa is Amarin’s largest shareholder. We are long term shareholders and have not sold any shares since acquiring our position. We have a stellar track record of success, including in the cardiovascular space. Our nominees have the experience and qualifications to help unlock Amarin’s true potential.
We urge all shareholders to vote the BLUE proxy card “FOR” the Sarissa Nominees and “FOR” the removal of Chairman Per Wold-Olsen on or prior to the deadline on Tuesday, February 21, 2023.
If you have not received a BLUE proxy card, you can vote the white proxy card but you must vote “FOR” all proposals on the white proxy card to have the same effect as a vote “FOR” all proposals on the BLUE proxy card. If holders want to fully support Sarissa, they must make sure that all “FOR” boxes are marked on your proxy card before you submit it. If you have any questions on how to vote, we recommend that you contact Sarissa’s proxy solicitor, D.F. King, by calling (800) 331-7024 or emailing AMRN@dfking.com
#FreeAmarin
Visit our website at www.freeamarin.com for helpful information about Sarissa and the need for change at Amarin(AMRN).
The General Meeting of Amarin(AMRN) shareholders is scheduled for February 28, 2023, BUT TO MAKE SURE YOUR VOTE COUNTS, SUBMIT YOUR VOTE ON OR BEFORE TUESDAY, FEBRUARY 21, 2023.
Shareholders should have received the BLUE proxy card. If you have not received your BLUE proxy card or have any questions on how to vote, please contact:
D.F. King & Co., Inc.
48 Wall Street
New York, New York 10005
Shareholders call toll-free: (800) 331-7024
Banks and Brokers call: (212) 269-5550
By Email: AMRN@dfking.com
* 2022 stock performance calculated from end of day December 31, 2021 – December 30, 2022. Source: Bloomberg
† 2021 stock performance calculated from end of day December 31, 2020 – December 31, 2021. Source: Bloomberg. Chairman Per Wold-Olsen compensation and CEO Karim Mikhail calculated based on corporate filings
‡ Novartis Full Year 2022 Earnings February 1, 2023
Additional Information
Sarissa Capital Management LP (“Sarissa Capital”), together with other participants, filed a definitive proxy statement and an accompanying blue proxy card with the SEC on January 31, 2023, in connection with the solicitation of shareholders of Amarin Corporation plc(AMRN) (the “Company”) at the general meeting of the Company for the election of Sarissa Capital’s slate of highly-qualified nominees (the “General Meeting”). Shareholders are advised to read the definitive proxy statement and other relevant documents related to the General Meeting as they contain important information.
The definitive proxy statement and other relevant documents are available at no charge on the SEC’s website at www.sec.gov and at www.freeamarin.com. The definitive proxy statement and other relevant documents are also available at no charge by directing a request to Sarissa Capital’s proxy solicitor, D.F. King & Co., Inc., 48 Wall Street, New York, New York 10005 (Shareholders can call toll-free: (800) 331-7024).
View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005865/en/
Tal, Thanks for your detailed reply at the end of the day your last sentence says it all. KM is simply a salesman. He is not qualified to achieve the daunting task put in front of him. Someone here mentioned that KM secretly wishes Sarissa wins the proxy contest to get out from under the constraints of PWO.
robin, Sarissa retained Glass-Lewis for their proxy fight with Innoviva.
https://www.prnewswire.com/news-releases/glass-lewis-supports-sarissa-capitals-nominees-for-innoviva-board-300436088.html
Tal, so how's that working out for them? Now they don't even acknowledge the US market exists. Especially the first quarter is going to show a downturn in scripts due to fewer insurance co. coverage.
md34, there has been no discussion about KM leaving. It's mainly adding Sarissa's people to the board. Definitely, PWO needs to leave. IMO KM is in over his head. He's a salesman, not a CEO. Maybe they need to keep him for any transition period.
michael, yup I too received another email requesting a vote using the white proxy card.
birdrock, thanks, it was so boring I had to turn it off. A nonevent.
Does anyone know if they will post the webinar anywhere? Maybe YouTube? Their website
corkgilly, Sarissa
Ggwpq, it implies that the shs price will go down. Nothing to do with Denner winning proxy. We won't know for a few wks. Day traders will play with the share price. Like iwanderer
Tal, lol as Sarissa mocked them in his slide presentation he mentioned that Puerto Rico is part of the USA. So why are they bragging about approval in Puerto Rico?
I wasn't on the call but AMRN just showed up on the largest borrow rate increases among liquid stocks.
I assume based on the posts it wasn't a success....
Birdrock, the dirtbags are spending our money to pay for a top notch proxy solicitors to lose a lost cause.
622 , ask yourself why would they take questions from the enemy? Ain't happening
Capt, any idea what the 8k would contain?
622fast, amarin would never let Sarissa ask questions unless they have a shill.
birdrock, it's embarrassing to think that this worldly BOLD company can't figure out how to hire a web designer that can complete a job without botching it up.
mr stockboy, wow that doesn't look good on the day before their shareholder conference call.
It just shows on the leadership page. I complained a few weeks ago about the photos on the leadership page being cut in half. I guess the web designer screwed up...LOL
interesting exhibit 10.68 is private till 2032
http://archive.fast-edgar.com/20230213/AUZIN2ZZZBQZNSZ2Z22ATZZZMTPLZZASB2Z2
Filed on: February 13, 2023
Gotta love it! Go Sarissa
http://archive.fast-edgar.com/20230213/AD22L22CZ222M2HU222I2W42AAS2IC22Z252
michael, a few smallish blocks traded at the close, one for 160,000 done in the middle of the market.
meowzo, lol a psychedelic cat. Untapped unrealized demand for big V is there just needs some direction=Denner.