Abcam founder Jonathan Milner issues open letter to shareholders

Jonathan Milner, the founder and one of the largest investors in Abcam has issued an open letter to the Company’s shareholders in response to assertions made by Abcam in its statement on 20 June 2023. Jonathan Milner outlines the Company’s lack of focus and his plan to restore the Company’s financials, accountability, and executional discipline. “As a follow up to my previous communication, this letter responds to assertions made by Abcam in its statement on 20 June 2023… My only intention is to fix the Company’s issues, and if the Board had demonstrated that they were listening and fixing these problems, I would have been happy to watch Abcam’s fortunes recover from afar… Once again, for the sake of all stakeholders, I implore shareholders to elect me to the position of Executive Chairman and vote for the proposals outlined below. I can support and constructively challenge the current management team, lead the Board appropriately and increase value for all shareholders. The proposals include: The removal of Peter Allen, Michael Baldock, and Sally Crawford from office as Directors of the Company; The removal of any Director of the Company appointed after the Company’s receipt of the request to convene an EGM and before the occurrence of the meeting; The election of Jonathan Milner as a Director and appointment as Executive Chairman of the Board; A shareholder resolution to the Board to conduct a thorough search for candidates and appoint at least two other independent, highly qualified Directors to the Board promptly after the meeting; Company reimbursement of expenses of Jonathan Milner and affiliates incurred in connection with the foregoing matters.”