AquaBounty Technologies, Inc. (LON:ABTU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
(b) On April 19, 2019, Jack A. Bobo notified AquaBounty Technologies, Inc. (the “Company”) of his intention to resign from the Company’s Board of Directors (the “Board”) and to withdraw as a director nominee for election at the Company’s annual meeting of stockholders to be held on April 30, 2019 (the “Annual Meeting”), effective immediately. Mr. Bobo is resigning from the Board in connection with his departure from his position as Senior Vice President and Chief Communications Officer of Intrexon Corporation, the Company’s largest shareholder, to focus on his new role as CEO of Futurity: Food – Technology – Communications. His resignation is not the result of any disagreement with the Company on any matter relating to its operations, policies, or practices.
to the Relationship Agreement between the Company and Intrexon Corporation that the Company filed as Exhibit 10.5 to its Registration Statement on Form 10 filed on April 25, 2014, Intrexon Corporation has the right to designate a nominee to fill the vacancy created by Mr. Bobo’s resignation. Intrexon Corporation has indicated its intent to designate a nominee as soon as practicable, and it is the Board’s objective to make an appointment to fill the vacancy as soon as practicable thereafter.
Other than Mr. Bobo, the nominees named in the Company’s Definitive Proxy Statement dated March 21, 2019 (the “Proxy”), will stand for election at the Annual Meeting. Notwithstanding Mr. Bobo’s resignation and withdrawal as a director nominee, the form of proxy card included in the original distribution of the Proxy remains valid; however, any votes that are submitted with instructions to vote for all the Board’s nominees will be voted only for the six remaining nominees as named in the Proxy.
About AquaBounty Technologies, Inc. (LON:ABTU)
AquaBounty Technologies, Inc. is a biotechnology company engaged in research, development and commercialization of the commercial viability of a group of proteins, antifreeze proteins (AFPs). The Company focuses on the managing aquaculture productivity. It offers AquAdvantage Salmon (AAS), which can be grown in contained, land-based facilities. It offers AquAdvantage Salmon for land-based facilities that can be built closer to consumers to manage the need for air freight shipping and transportation. The Company’s subsidiaries include AquaBounty Canada, Inc., which operates a commercial biotechnology laboratory that conducts research and development programs related to the Company’s technologies; AquaBounty Panama, S. de R.L.; AquaBounty Farms, Inc., and AquaBounty Brasil Participacoes Ltda., which conducts commercial trials of the Company’s AquAdvantage Salmon.
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