{"id":387706,"date":"2020-11-24T09:03:31","date_gmt":"2020-11-24T14:03:31","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387706"},"modified":"2020-11-24T09:03:31","modified_gmt":"2020-11-24T14:03:31","slug":"watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\/","title":{"rendered":"WaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\">\nWaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History\n<\/p>\n<p class=\"bwalignc\"><b><i>Issues New Rebuttal Presentation that Systematically Exposes and Refutes the Distortions in Ziopharm\u2019s November 19<sup>th<\/sup> Deck<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Makes Clear That Shareholders Have Been Continuously Harmed by Value-Destructive Business Decisions Before and After Ziopharm\u2019s Dissolution of the Intrexon\/Precigen Agreement in 2018<\/i><\/b><\/p>\n<p class=\"bwalignc\"><b><i>Urges Shareholders to Vote on the <span class=\"bwuline\">WHITE<\/span> Consent Card to Reconstitute the Board with WaterMill\u2019s Three Aligned, Independent and Highly-Qualified Director Candidates<\/i><\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nWaterMill Asset Management Corp. (together with its affiliates, \u201cWaterMill\u201d or \u201cwe\u201d), which collectively with the other participants in its consent solicitation beneficially owns approximately 3.3% of the outstanding shares of Ziopharm Oncology, Inc. (NASDAQ: ZIOP) (\u201cZiopharm\u201d or the \u201cCompany\u201d), today released <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ffixziopharm.com%2Fwp-content%2Fuploads%2F2020%2F11%2FFix-Ziopharm-Rebuttal-Deck.pdf&amp;esheet=52335671&amp;newsitemid=20201124005618&amp;lan=en-US&amp;anchor=a+new+rebuttal+presentation&amp;index=1&amp;md5=10bdfac7772ac05d7a739c159c2971be\">a new rebuttal presentation<\/a> in response to the incumbent Board of Directors\u2019 (the \u201cBoard\u201d) recent attempt to mislead shareholders and rewrite history regarding Ziopharm\u2019s relationship with Intrexon Corporation (\u201cIntrexon\u201d), which has been renamed Precigen Incorporated (\u201cPrecigen\u201d). We invite shareholders to download and view the full presentation <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ffixziopharm.com%2Fwp-content%2Fuploads%2F2020%2F11%2FFix-Ziopharm-Rebuttal-Deck.pdf&amp;esheet=52335671&amp;newsitemid=20201124005618&amp;lan=en-US&amp;anchor=here&amp;index=2&amp;md5=323c2d5d809cf57efb95e64b320ffd54\">here<\/a>.\n<\/p>\n<p>\nAs a reminder, WaterMill is seeking to reconstitute Ziopharm\u2019s eight-member Board by removing four current directors and electing three highly-qualified and independent individuals: Robert Postma, Jaime Vieser and Holger Weis. WaterMill encourages shareholders to consent to all of its proposals on the <b><span class=\"bwuline\">WHITE<\/span><\/b> consent card. We urge shareholders to sign, date and return each <b><span class=\"bwuline\">WHITE<\/span><\/b> consent card they receive.\n<\/p>\n<p>\nRobert Postma, Principal and Founder of WaterMill, commented:\n<\/p>\n<p>\n\u201cWe believe that Ziopharm\u2019s attempt to mislead shareholders and rewrite history in its recent presentation only validates our case for urgent change. Rather than assume accountability for years of value destruction and finally provide shareholders with a clear plan for commercializing the Company\u2019s promising science, the incumbent Board is apparently resorting to peddling distortions about a 2018 \u2018reset\u2019 that has failed to deliver meaningful clinical progress and put an end to troubling boardroom interconnectivity. In our view, Ziopharm remains on the road to financial ruin due to the incumbents\u2019 inability to effectively allocate capital, pursue revenue-generating opportunities and regain the investment community\u2019s trust. This is why we are pursuing a shareholder-driven overhaul of the Board that we believe can lead to a sorely needed strategic review and infuse necessary ownership perspectives and accountability into the boardroom. Ziopharm does not need to continue suffering from a lack of commercial intensity and financial acumen in the boardroom.\n<\/p>\n<p>\nDo not be fooled by the incumbent Board\u2019s apparent misrepresentation of the facts: the truth is that the Company has lost 76% of its equity market value over the past five years as capital has been seemingly wasted on the Intrexon partnership and carelessly spent on leadership compensation. We contend that the directors we are seeking to remove have proven that they cannot be trusted or relied upon to initiate a turnaround. Moreover, Ziopharm already attempted a self-initiated director refresh in 2018 \u2013 since then, we believe the Board has continued to foster an anti-shareholder culture defined by poor governance practices and ill-conceived financing decisions that have blindsided and diluted shareholders.\n<\/p>\n<p>\nUnlike the incumbent Board, my fellow nominees and I will prioritize business integrity, urgency and transparency in the boardroom. We believe Ziopharm\u2019s leadership has consistently disregarded shareholder input, misled investors and dragged the Company into a financial hole, which is why we felt compelled to act. We are committed to continuing to invest our energy, resources and time to help Ziopharm finally realize the true potential of its science for the benefit of shareholders, providers and patients.\u201d\n<\/p>\n<p class=\"bwalignc\">\n***\n<\/p>\n<p class=\"bwalignc\"><b>We urge Ziopharm shareholders to consent to all five proposals on the WHITE consent card today by signing, dating and returning it in the postage-paid envelope provided.<\/b><b>Please vote each and every <span class=\"bwuline\">WHITE<\/span> consent card you receive since you may own multiple accounts. If you have already voted a Green revocation card from Ziopharm, a later-dated vote on the <span class=\"bwuline\">WHITE<\/span> consent card will revoke that vote.<\/b><\/p>\n<p class=\"bwalignc\"><b>December 11, 2020 is our goal for the submission of written consents. <span class=\"bwuline\">Effectively, this means that you have until December 11, 2020 to consent to the proposals.<\/span><\/b><\/p>\n<p class=\"bwalignc\"><b>You may only consent by voting the <span class=\"bwuline\">WHITE<\/span> consent card. Please throw away all Green revocation cards you receive.<\/b><\/p>\n<p class=\"bwalignc\">\n***\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201124005618r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201124005618\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201124005618\/en\/<\/a><\/span><\/p>\n<p><b>For Investors:<\/b><\/p>\n<p>\nSaratoga Proxy Consulting LLC<br \/>\n<br \/>John Ferguson \/ Joe Mills, 212-257-1311<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jferguson@saratogaproxy.com\">jferguson@saratogaproxy.com<\/a> \/ <a rel=\"nofollow\" href=\"mailto:jmills@saratogaproxy.com\">jmills@saratogaproxy.com<\/a><\/p>\n<p><b>For Media:<\/b><\/p>\n<p>\nProfile<br \/>\n<br \/>Greg Marose \/ Bela Kirpalani, 347-343-2999<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:gmarose@profileadvisors.com\">gmarose@profileadvisors.com<\/a> \/ <a rel=\"nofollow\" href=\"mailto:bkirpalani@profileadvisors.com\">bkirpalani@profileadvisors.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> New York United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>WaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History Issues New Rebuttal Presentation that Systematically Exposes and Refutes the Distortions in Ziopharm\u2019s November 19th Deck Makes Clear That Shareholders Have Been Continuously Harmed by Value-Destructive Business Decisions Before and After Ziopharm\u2019s Dissolution of the Intrexon\/Precigen Agreement in 2018 Urges Shareholders to Vote on the WHITE Consent Card to Reconstitute the Board with WaterMill\u2019s Three Aligned, Independent and Highly-Qualified Director Candidates NEW YORK&#8211;(BUSINESS WIRE)&#8211; WaterMill Asset Management Corp. (together with its affiliates, \u201cWaterMill\u201d or \u201cwe\u201d), which collectively with the other participants in its consent solicitation beneficially owns approximately 3.3% of the outstanding shares of Ziopharm Oncology, Inc. (NASDAQ: ZIOP) (\u201cZiopharm\u201d or the \u201cCompany\u201d), &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;WaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-387706","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"WaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History Issues New Rebuttal Presentation that Systematically Exposes and Refutes the Distortions in Ziopharm\u2019s November 19th Deck Makes Clear That Shareholders Have Been Continuously Harmed by Value-Destructive Business Decisions Before and After Ziopharm\u2019s Dissolution of the Intrexon\/Precigen Agreement in 2018 Urges Shareholders to Vote on the WHITE Consent Card to Reconstitute the Board with WaterMill\u2019s Three Aligned, Independent and Highly-Qualified Director Candidates NEW YORK&#8211;(BUSINESS WIRE)&#8211; WaterMill Asset Management Corp. (together with its affiliates, \u201cWaterMill\u201d or \u201cwe\u201d), which collectively with the other participants in its consent solicitation beneficially owns approximately 3.3% of the outstanding shares of Ziopharm Oncology, Inc. (NASDAQ: ZIOP) (\u201cZiopharm\u201d or the \u201cCompany\u201d), &hellip; Continue reading &quot;WaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-24T14:03:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201124005618r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"WaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History\",\"datePublished\":\"2020-11-24T14:03:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\\\/\"},\"wordCount\":773,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20201124005618r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/watermill-asset-management-sets-the-record-straight-following-ziopharms-apparent-attempt-to-mislead-shareholders-and-rewrite-history\\\/\",\"name\":\"WaterMill Asset Management Sets the Record Straight Following Ziopharm\u2019s Apparent Attempt to Mislead Shareholders and Rewrite History - 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(together with its affiliates, \u201cWaterMill\u201d or \u201cwe\u201d), which collectively with the other participants in its consent solicitation beneficially owns approximately 3.3% of the outstanding shares of Ziopharm Oncology, Inc. 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