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  Acacia Research Corporation, a 19.05% shareholder in Arix Bioscience plc (LSE: ARIX), sent a letter to the Arix Senior Independent Director on 9 March 2021.   Acacia is urging the Arix Board to meet with its largest shareholder ahead of the start date of the recently appointed directors, currently scheduled for April 1, in order to allow for proper discourse on the multitude of shareholder concerns. Arix has a disappointing governance history with 18 different directors in just five years, lacks gender diversity on the Board, and received minimal shareholder approval at AGMs. The disruption at the Board level has led to the departure of key investment professionals. Acacia believes these issues must be addressed on an urgent basis due to the recent receipt of proceeds by a team that now lacks adequate investment professionals.

United kingdomCity ofIsaac kohlbergBerkeley squareMaureeno connellMaureen oconnellArix bioscienceBryan altermanGiles kerrMark chinJoe andersonJonathan tobinAcacia research corporationArix bioscience plcTechnology developmentInvestment team dysfunction