Sinovac Biotech Ltd. (NASDAQ: SVA) shareholder Heng Ren Silk Road Investments LLC today sent an open resolution to Sinovac's shareholdersoutliningthedecisiveaction thatSinovac'sBoard ofDirectorsmusttaketopayshareholders the $55 cash dividend before the July 8 board vote, which would remove uncertainty, restore credibility and improve investor confidence in Sinovac.
The full text of the resolution follows:
PayThe$55Dividend BeforetheJuly8Board Election
AllSinovac shareholderscanagreeononeissue:receiving dividends.
HengRenurgestheSinovacboardtopaythedeclared $55cashdividend beforetheJuly8votefor the board.
Hereare the reasons:
— It's legitimate. The current board's announcement of the $55 special cash dividend payment date stated”onorabout”July 9.ThenMonday, July7shouldwork.U.S.banksandstockexchanges are open for business.
— A July 7 payment date wouldremove uncertainty about the dividend. After the current board declareda$55cashdividendtobepaid”onorabout”Wednesday,July9,theelectioncontest for the Sinovac board was scheduled for the day before, July 8.
— Given the drama surroundingSinovac,itisnotsurprisingthatshareholdersareworriedthata different board might cancel the declared $55 dividend. Remove this worry. Pay the dividend on Monday, July 7 to shareholders.
— Paying the dividend on July 7 focuses shareholders on the qualifications of the candidates. It reduces the guessing about where candidates stand on the single issue of dividends, and allows for a more holistic and realistic consideration of the candidates' merits to serve shareholders.
Thisisasimple solutionthatwouldgoalongwaytowardsrestoring credibilityandinvestor confidence at Sinovac.
PeterHalesworth Founder & CIOHengRen SilkRoadInvestmentsLLC
Heng Ren Silk Road Investments LLC This week Heng Ren will invite shareholders to attend a webinar on the voting process and the issues before voters. Please review your voting materials and bring your thoughts and questions. See https://www.hengreninvestment.com/ and click “Sinovac Fairness” for details.
Contact: info@hengreninvestment.com
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SOURCE Heng Ren Partners
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