{"id":380516,"date":"2020-11-12T18:33:11","date_gmt":"2020-11-12T23:33:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380516"},"modified":"2020-11-12T18:33:11","modified_gmt":"2020-11-12T23:33:11","slug":"sian-capital-issues-open-letter-to-stockholders-of-opko-health","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sian-capital-issues-open-letter-to-stockholders-of-opko-health\/","title":{"rendered":"Sian Capital Issues Open Letter to Stockholders of OPKO Health"},"content":{"rendered":"
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\n Announces OPKO <\/em>
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\n as Agreed to Enact Important Governance Enhancements<\/u>
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\n by January 2021<\/em>
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\n Sets the Record Straight Regarding the Apparent Falsehoods and Misrepresentations OPKO is Peddling to Stockholders<\/em>
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\n Urges the Board to Formally Announce and Initiate a Credible Strategic Review to Help Enact Change, Restore Stockholder Confidence and Identify Steps for Delivering the Value <\/em>
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NEW YORK, Nov. 12, 2020 (GLOBE NEWSWIRE) — Sian Capital, LLC (together with its affiliates, \u201cSian\u201d or \u201cwe\u201d), a sizable stockholder with beneficial ownership of approximately 3% of OPKO Health, Inc.’s (NASDAQ: OPK) (\u201cOPKO\u201d or the \u201cCompany\u201d) outstanding common stock, today issued the below letter to stockholders. Recently, Sian issued a presentation outlining paths to enhanced value creation at OPKO and posted other relevant materials at www.siancapital.com\/resources<\/a>.<\/p>\n

November 12, 2020<\/p>\n

Fellow Stockholders,<\/p>\n

Sian Capital, LLC (together with its affiliates, \u201cSian\u201d or \u201cwe\u201d) has been overwhelmed by the positive investor response to our October 2020 presentation<\/a> that outlines several viable paths to unlocking the tremendous value trapped within OPKO Health, Inc.’s (\u201cOPKO\u201d or the \u201cCompany\u201d) underperforming stock. After receiving messages from more than 400 supportive stockholders over the past two weeks, one thing has become crystal clear to us: investors are fed up with leadership\u2019s self-serving decisions and believe <\/u>now<\/u><\/em> is <\/u>the time to pursue<\/u> the many<\/u> high-potential opportunities <\/u>that exist across <\/u>the <\/u>industry.<\/u><\/p>\n

We believe the public market does not fully appreciate OPKO\u2019s prized assets because it has lost confidence in the Company\u2019s management and Board of Directors (the \u201cBoard\u201d). It appears these leaders are either unable or unwilling to address the array of governance, financial and strategic issues that continue to depress the Company\u2019s stock price. Moreover, it has recently come to our attention that OPKO\u2019s representatives are going so far as to attempt to dissuade stockholders from supporting change at the Company and making baseless claims regarding Sian and the Company\u2019s governance. For this reason, we want to expose OPKO\u2019s misinformation campaign and refute its recent effort to miscast Sian and our value-enhancing ideas.<\/p>\n

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\n FACT<\/u>
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\n : OPKO\u2019s Investor Relations Team <\/u>
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\n Misinformation Campaign Against Sian<\/u>
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Despite Sian frequently engaging with Chairman and CEO Dr. Phillip Frost, Executive Vice President and director Steven Rubin, OPKO\u2019s investor relations team, as well as other members of OPKO senior management to discuss paths to unlock value for stockholders over the past six months, OPKO\u2019s investor relations team is now falsely claiming to stockholders that they have \u201cnever heard of Sian\u201d in an apparent attempt to discredit us and our research. The reality is OPKO proactively reached out to Sian within 24 hours of the release of our public <\/a>presentation<\/a> to continue our dialogue. In spite of the Company\u2019s misinformation campaign, investors have been studying our materials, resulting in positive feedback and support from analysts who follow OPKO closely. Just today at the H.C. Wainwright 6th<\/sup> Annual Israel Virtual Conference, an analyst asked multiple questions regarding some of the very same strategic options<\/u> we have urged OPKO to examine. The analyst specifically asked if OPKO would consider splitting its Pharma and Laboratory division since neither is getting the value it deserves, to which the Company responded that they are exploring this and \u201cmay in fact do that,\u201d especially since the Pharma division will be self-funding once hGH and Rayaldee royalties begin shortly and is something they intend to look at going forward. The analyst further asked about rumors they independently heard of regarding acquiror interest, to which the Company responded, \u201cwe engage in strategic decisions [consistently] and at this time won\u2019t comment.\u201d Several savvy investors highlighted these comments to us today noting they signal the Company seems willing to take the steps Sian has outlined. We believe investors can now clearly see the direct path to unlock the value that long-suffering investors deserve.<\/u><\/p>\n

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\n The Delaware Court of Chancery and <\/u>
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\n OPKO\u2019s Board <\/u>
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\n January <\/u>
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\n 2021<\/u>
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Stockholders should know that within just two weeks of Sian sending its 220 Demand Letter<\/a>\u00a0to OPKO, and just one week after it was publicly disclosed on October 29th<\/sup> by press release and Sian Capital\u2019s website,1<\/sup> the OPKO Board and the Delaware Court of Chancery approved a settlement that requires OPKO to implement certain<\/u>important <\/u>governance enhancements no later<\/u> than January 31, 2021. These include but are not limited to:<\/p>\n