SAN DIEGO--(BUSINESS WIRE)--“Concerned Shareholders and Nominees of Senomyx” (“CSNS”) today issued the following open letter to fellow shareholders of Senomyx, Inc.:
In 2004 Senomyx had its initial public offering (IPO) at $6 a share. Under the leadership of the incumbent board the stock has fallen more than 80 percent since that time.
Seven experienced turnaround Board Members are running for places on the Board of SNMX. Two are highlighted here: Gus Halas and Barry Igdaloff.
In the past, when shareholders have been disappointed with the performance of incumbent boards, those shareholders have often forced the incumbent boards to accept dissidents onto the Boards.
For example, In the case of Guest Supply, a leading hospitality supplies company, dissident Barry Igdaloff was added to the Board. Barry purchased a substantial amount of Guest Supply stock with his own money. From the time Barry was added to the Board to the time the company was sold a few short years later, the stock more than tripled in value.
The details of Barry's successful fight for the shareholders of Guest Supply is detailed in his book, Guest in a Nightmare. Guest in a Nightmare clearly shows how a poor board of Directors can badly hurt shareholders, and how a Dissident Board Member can turn things around and make money for shareholders. Guest in a Nightmare is available on Amazon.com.
Gus Halas is another example. At numerous other companies over the years, shareholders determined that the incumbent Board was doing a poor job and shareholders forced the incumbent Board to accept dissident nominee, Gus. Gus has used his own money to buy stock and successfully turned around a number of companies, to the benefit of his fellow shareholders.
Moreover, Gus has specific experience in the food industry. He has relationships with packaged food companies that buy flavor enhancers. He understands the reasons why SNMX has failed to commercialize so many of its products and is ready, willing and able to change the compensation system at SNMX to one in which there is true "pay for performance.”
Gus has worked with one of the most rapidly growing food manufacturers in America for the past three years and can discuss in detail how his experience is relevant to SNMX.
Every single individual shareholder of SNMX should take it upon himself or herself to set up a quick call with either Barry or Gus, so as to better understand how a successful "turnaround" board member operates.
We strongly encourage all shareholders to call dissident nominee Ben Large at (310)382 7311 to set up a call with Gus or Barry.
If you have any questions about how to cast a vote in the upcoming SNMX election, please contact our proxy solicitor, John Glenn Grau of InvestorCom, Inc. at firstname.lastname@example.org or (203)972-9300.
In addition to speaking to our seven nominees, Shareholders are encouraged to review the presentation on the experience of the dissident nominees, available at the following web link: http://www.iComMaterials.com/snmx
SECURITY HOLDERS SHOULD READ THE PROXY STATEMENT AND ADDITIONAL MATERIALS BECAUSE THEY CONTAIN IMPORTANT INFORMATION. INVESTORS CAN GET A PROXY STATEMENT, AND ANY OTHER RELEVANT DOCUMENTS, FOR FREE AT THE SEC’S WEBSITE (WWW.SEC.GOV).
A DEFINITIVE PROXY STATEMENT AND OTHER MATERIALS HAVE BEEN SENT AND PROVIDED TO SECURITY HOLDERS BEFORE OR AT THE SAME TIME AS ANY SUCH PROXY, CONSENT, OR AUTHORIZATION IS FURNISHED TO OR REQUESTED FROM SECURITY HOLDERS.
All inquiries related to “Concerned Shareholders and Nominees of Senomyx” and the Alternative Board Slate should be directed to John Glenn Grau, President of InvestorCom, who has extensive experience soliciting proxies in other competitive elections.