{"id":61466,"date":"2025-06-22T04:04:18","date_gmt":"2025-06-22T02:04:18","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/prime-success-issues-statement-on-new-york-state-court-decision-confirming-our-rights-as-sinovac-shareholders-including-right-to-vote-at-upcoming-special-meeting\/"},"modified":"2025-06-22T04:04:18","modified_gmt":"2025-06-22T02:04:18","slug":"prime-success-issues-statement-on-new-york-state-court-decision-confirming-our-rights-as-sinovac-shareholders-including-right-to-vote-at-upcoming-special-meeting","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/prime-success-issues-statement-on-new-york-state-court-decision-confirming-our-rights-as-sinovac-shareholders-including-right-to-vote-at-upcoming-special-meeting\/","title":{"rendered":"Prime Success Issues Statement on New York State Court Decision Confirming Our Rights as Sinovac Shareholders \u2013 Including Right to Vote at Upcoming Special Meeting"},"content":{"rendered":"
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\nCorrects the Record Following Latest Attempt By the 1Globe Activist Board to Distort Reality in Transparent Attempt to Mislead Shareholders<\/i><\/p>\n

\nNotes That on Friday Antiguan Judge Denied the 1Globe Activist Board\u2019s Attempt to Immediately Prevent Prime Success From Voting Sinovac Shares \u2013 Which the Board Failed to Disclose to Shareholders<\/i><\/p>\n

HONG KONG–(BUSINESS WIRE)–Prime Success L.P., (together with its affiliates, \u201cPrime Success\u201d or \u201cwe\u201d), a significant shareholder of Sinovac Biotech Ltd. (NASDAQ: SVA) (\u201cSinovac\u201d or the \u201cCompany\u201d) with ownership of approximately 8% of the Company\u2019s outstanding shares, today issued a statement in response to the decision by the United States District Court for the Southern District of New York on Friday, June 20, 2025.<\/p>\n

\nPrime Success stated:<\/p>\n

\n\u201cThe New York court ruling confirms what we have consistently stated: Prime Success has been a major owner of registered, valid shares of Sinovac for seven years and it has undisputed rights as such \u2013 including the right to vote with other shareholders to boot 1Globe and OrbiMed out of power. We requested an injunction in self-defense in response to the litigation initiated by the 1Globe Activist Board to prevent us from voting our shares. The 1Globe Activist Board also threatened to resort to self-help measures to keep us from voting. The court\u2019s decision was based on the premises that the 1Globe Activist Board currently has no basis to deny our rights as shareholders and that the dispute is currently in arbitration in Hong Kong, and unless those change no injunctive relief is required. The court expects the 1Globe Activist Board to act lawfully and not deprive us of our shareholder rights, and for the Antiguan court to uphold the obligation to send appropriate matters to arbitration, as required by treaty obligations. Importantly, this is why the ruling was without prejudice<\/span> \u2013 we have the right to go back to the New York court if at any point the 1Globe Activist Board refuses to recognize our clear legal status as voting shareholders.<\/p>\n

\nAlso on Friday in a separate hearing in Antigua, the court rejected the 1Globe Activist Board\u2019s attempt to invalidate the shares Prime Success and Vivo legally acquired from their PIPE investment \u2013 an $86 million equity investment made to support SINOVAC when it was in dire need of capital. There will now be a subsequent hearing at the end of June to decide the appropriate next step on this case \u2013 which we continue to believe is mandatory arbitration in the Hong Kong International Arbitration Centre (\u201cHKIAC\u201d) under Hong Kong law. Tellingly, the 1Globe Activist Board declined to disclose this development to shareholders in its June 21 press release \u2013 likely because it was not favorable to them.<\/p>\n

\nShareholders should realize at this stage that the alarming public statements issued by the 1Globe Activist Board are self-serving distortions of reality. Their characterizations are inaccurate, and especially their claim that Prime Success tried \u201cto interfere with the payment of the US$55.00 per common share special cash dividend declared by the current SINOVAC Board.\u201d Prime Success has been demanding the distribution of dividends and never tried to block it.<\/p>\n

\nImportantly, Prime Success reminds shareholders of the following:<\/p>\n