Matrix-M

Shah Capital Launches Campaign Urging Stockholders to Vote AGAINST the Re-Election of All of Novavax’s Directors Up for Election at its 2024 Annual Meeting

Retrieved on: 
Monday, May 6, 2024
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RALEIGH, N.C., May 06, 2024 (GLOBE NEWSWIRE) -- Shah Capital Management, Inc. (together with its affiliates, “Shah Capital,” “we” or “our”) collectively beneficially owns approximately 7.5% of the outstanding common stock of Novavax, Inc. (NASDAQ: NVAX) (“Novavax” or the “Company”), making it a top three and largest non-index stockholder, today issued the below statement to stockholders regarding its intended efforts at the 2024 Annual Meeting of Stockholders scheduled for Thursday, June 13, 2024, 8:30 a.m. Eastern Time (the “Annual Meeting”):

Key Points: 
  • Shah Capital recognizes the critical importance of effective board oversight and stewardship.
  • As a result, Shah Capital today filed a preliminary proxy statement to solicit stockholders to vote AGAINST the re-election of Richard H. Douglas, Margaret G. McGlynn, and David Mott, each of the Company’s Class II Directors up for election at the Annual Meeting.
  • The decision to launch this campaign follows our repeated attempts to constructively engage with the Board.
  • Under the Company’s policies, each of the directors up for election at the Annual Meeting have already tendered an irrevocable contingent resignation to the Company’s secretary.

Shah Capital nominates two highly qualified independent director candidates for Novavax

Retrieved on: 
Monday, April 15, 2024
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RALEIGH, N.C., April 15, 2024 (GLOBE NEWSWIRE) -- Shah Capital, which owns approximately 6.7% of the outstanding common stock of Novavax (NASDAQ: NVAX), has today issued the below statement:

Key Points: 
  • These include colossal marketing failures, a non-existent partnership strategy, no clear understanding of technology, questionable regulatory management, and ongoing operating losses and inefficiencies.
  • “It is the view of Shah Capital therefore that Novavax must urgently adopt a more innovative and dynamic sales and marketing strategy.
  • Furthermore, Novavax should turn its Matrix-M adjuvant franchise’s inactive pipeline candidates (such as Flu, RSV, and H5N1) into active opportunities through outside capital infusion.
  • “It is for these reasons outlined above that Shah Capital is calling for an end to the historic mismanagement of this business.