Diamyd Medical endocrine/metabolic news
Diamyd said it will convene an extraordinary general meeting on March 13 to address a proposal from a group of shareholders that Diamyd enter into immediate liquidation. The shareholders, which claim to represent 8.9 million series B shares or about 30% of the total number of shares and about 21% of the votes, also proposed to elect a new board, change the company name to Diamyd Sverige AB and establish a wholly-owned subsidiary. The subsidiary will have the same number of shares as Diamyd and only one class of share. Under the proposal, Diamyd would transfer all of its share holdings and about SEK40 million ($6.2 million) in cash to the subsidiary. As of Nov. 30, 2012, the company had SEK373 million ($56 million) in cash. As of Aug. 31, 2012, Diamyd had a 12-month operating loss of SEK39.1 million ($5.9 million). ...