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Missing Quorum, Nanogen and Epoch Postpone Merger Vote

NEW YORK, Dec. 8 (GenomeWeb News) - Nanogen and Epoch Biosciences adjourned their special shareholder meetings today and postponed until Dec. 15 a vote on their merger after an insufficient number of stockholders were present or represented by proxy at the Nanogen meeting.

 

Epoch, which also postponed the vote until Dec. 15, had reached a quorum at its special shareholder meeting and had sufficient votes to approve the merger.

 

Nanogen said holders of the majority of the issued and outstanding Nanogen common stock entitled to vote, either in person or represented by proxy, represent the quorum necessary for transaction of business at the meeting.

 

As of Wednesday's commencement of the meeting, roughly 16.4 million of the necessary 16.7 million share votes needed to establish a quorum were received by Nanogen.

 

Nanogen noted that more than 90 percent of the proxies received have been in favor of the merger and related issues.

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