y“) today provided a corporate update as set out below.
At a meeting of Nabis’ directors held yesterday, the Board ratified the appointment of Bruce Langstaff as Executive Chairman and appointed Jared Carroll as the Chair of the Audit Committee of the Board of Directors. Scott Kelly and Jennifer Law were also appointed as members of the Audit Committee.
The directors also considered strategic alternatives available to Nabis in the light of its size, its financial position, market conditions, and other relevant considerations. As a result of these considerations, the Company has adopted the strategy of seeking to maximize and realize upon the value of its assets, where possible, in order to put itself in the position to discharge its remaining liabilities and to create tangible value for its shareholders. While Nabis intends to evaluate opportunities in this regard, there can be no assurance that it will enter into any transaction or series of transactions that will accomplish these goals. Nabis does not intend to comment further on these matters except as required by law.