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Thursday, 09/21/2006 11:12:21 AM

Thursday, September 21, 2006 11:12:21 AM

Post# of 4764
Reuters
ImClone changes board voting structure
Thursday September 21, 7:35 am ET


CHICAGO (Reuters) - The board of drugmaker ImClone Systems Inc. (NASDAQ:IMCL - News) said on Thursday it has changed the quorum requirement to take action from one-third to a majority.
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The decision was disclosed in a filing with the U.S. Securities and Exchange Commission on Thursday, the day after shareholders elected billionaire investor Carl Icahn and two of his associates to the board.

Icahn reiterated his call for the ouster of ImClone Chairman David Kies. Icahn owns 13.9 percent of ImClone's outstanding shares, worth about $390.5 million, according to a separate filing on Wednesday.

The latest filing was accompanied by a statement calling on directors to avoid "needlessly antagonistic and deliberately public debate" that it said could harm the reputation of the company.
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