Abcam issues statement regarding general meeting

Abcam filed an investor presentation with the SEC in connection with the extraordinary general meeting of the company to be held on July 12. The company issued the following statement: “We believe Jonathan Milner’s attempt to wrest control of Abcam and become its de facto CEO will jeopardize Abcam’s recent momentum as well as its day-to-day operations, growth strategy and competitive position. Jonathan Milner has not been operationally involved in Abcam for nearly a decade. Since then, the Company has matured into a fundamentally different business and has successfully executed its Abcam 2.0 strategy. Revenues have nearly tripled under CEO Alan Hirzel’s leadership, growing by 183% during his tenure, while Abcam has also expanded globally and increased its market share. With the groundwork now in place, Abcam is set to benefit as sales rise and margins improve. Jonathan Milner has failed to articulate to shareholders or the Company what appointing him to an Executive Chairman role would mean in practice or what new strategy he is seeking to deploy. The Board believes this sudden and significant shift in both operational and executive leadership of Abcam will put shareholders’ investment at risk and cause an uncertain period of disruption. The Company urges shareholders to vote “AGAINST” all eight of the resolutions being put forward at the EGM.”