{"id":398589,"date":"2020-12-12T17:18:22","date_gmt":"2020-12-12T22:18:22","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=398589"},"modified":"2020-12-12T17:18:22","modified_gmt":"2020-12-12T22:18:22","slug":"watermill-asset-management-addresses-ziopharm-oncologys-latest-distortion-and-recent-threat","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/watermill-asset-management-addresses-ziopharm-oncologys-latest-distortion-and-recent-threat\/","title":{"rendered":"WaterMill Asset Management Addresses Ziopharm Oncology\u2019s Latest Distortion and Recent Threat"},"content":{"rendered":"

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\nWaterMill Asset Management Addresses Ziopharm Oncology\u2019s Latest Distortion and Recent Threat\n<\/p>\n

Clarifies That Decision to Extend Consent Goal Date to December 15 Stems From a Proxy Advisory Firm Improperly Executing Shareholder Votes <\/i><\/b><\/p>\n

Emphasizes Ziopharm Possessed Complete Line of Sight Into Improperly Executed Votes Prior to Issuing its Disingenuous Friday Night Press Release <\/i><\/b><\/p>\n

Highlights Ziopharm\u2019s Most Recent Public Claim of Wanting an \u201cAmicable Resolution\u201d Comes One Day After<\/span> External Counsel \u2013 Paid With Shareholder Resources \u2013 Privately Reserved the Company\u2019s Right to File a Lawsuit Against WaterMill and Seek to Challenge the Consent Vote <\/i><\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nWaterMill Asset Management Corp. (together with its affiliates, \u201cWaterMill\u201d or \u201cwe\u201d) today responded to the latest element of the low-road campaign that Ziopharm Oncology, Inc. (NASDAQ: ZIOP) (\u201cZiopharm\u201d or the \u201cCompany\u201d) is waging in response to our consent solicitation.\n<\/p>\n

\nRobert Postma, principal and founder of WaterMill, commented:\n<\/p>\n

\n\u201cThis latest chapter of Ziopharm\u2019s low-road campaign only validates our view that the recent additions of Kevin Buchi and Mary Thistle to the Board of Directors have done nothing to change the Company\u2019s anti-shareholder culture. It seems clear to us that Chairman Scott Tariff has simply surrounded himself with more allies from Ziopharm\u2019s interconnected network rather than the best available directors. Indeed, the Company would not continue to disseminate blatant distortions and start threatening WaterMill if its Board of Directors truly valued and respected shareholders.\n<\/p>\n

\nWe also want to take the opportunity to make clear that our decision to extend the consent solicitation goal date to December 15 followed a proxy advisory firm improperly executing certain shareholders\u2019 votes. We question why Ziopharm would issue a press release questioning our decision to extend and allow votes to be properly tabulated, especially given that the Company had full line of sight into the apparent errors. We believe it is equally important to highlight for shareholders that Ziopharm\u2019s most recent public claim of wanting an \u2018amicable resolution\u2019<\/i> comes approximately one day after its external counsel \u2013 paid for by shareholders \u2013 issued a threatening letter to WaterMill\u2019s counsel that indicated the Company was considering suing us and seeking to invalidate the consent vote. It should be a wake-up call to all shareholders that the incumbent Board of Directors would have the Company\u2019s representatives even suggest that a challenge to this vote is on the table.\n<\/p>\n

\nAlthough Ziopharm\u2019s corporate governance is clearly broken, shareholders can rest assured that the WaterMill slate intends to put this contest behind us and help build bridges in the boardroom. If elected, Jaime Vieser, Holger Weis and I also plan to provide valuable support to Chief Executive Officer Laurence Cooper and the management team. We intend to help Ziopharm establish a disciplined capital allocation policy, prioritize accretive initiatives and ensure the Company does not run out of capital. We believe our full slate is the right solution at the right time for Ziopharm.\u201d\n<\/p>\n

Consent Instructions<\/span><\/b><\/p>\n