Cyclacel cancer news

Cyclacel said it has received a request from a shareholder for a special meeting to elect two directors to fill vacancies on the biotech's board after the company failed to pay dividends on its preferred stock for six quarterly periods. According to the terms of the Certificate of Designations governing the preferred stock, the number of director positions on the company's board of directors automatically increases by two if dividends are not paid over this time period. The meeting has been set for Oct. 4. ...