Genovate Approves Share Swap with Easywell; Johnson Plans to Exercise Share Appraisal Right
Genovate's shareholder meeting approved a share swap with Easywell. Its largest shareholder, Johnson, stated it will exercise its share appraisal rights and may seek an injunction.
📋 Article Processing Timeline
- 📰 Published: April 22, 2026 at 23:26
- 🔍 Collected: April 23, 2026 at 00:02 (35 min after Published)
- 🤖 AI Analyzed: April 23, 2026 at 05:09 (5h 7m after Collected)
Central News Agency
(CNA Correspondent Ho Hsiu-ling, Taipei, 22nd) Genovate Biotechnology held its shareholder meeting today, passing a share swap proposal with Easywell Biomedical. Johnson Chemical Pharmaceutical, Genovate's single largest shareholder, stated it will legally exercise its 'share appraisal right' to demand that Johnson's shares be bought back at a fair price, based on the number of shares held at the book closure date. Furthermore, regarding the disputes over the legality of Genovate's share swap merger process, Johnson does not rule out applying for a provisional injunction with the Commercial Court.
Johnson issued a statement tonight saying that to defend shareholder rights, it will legally exercise the 'share appraisal right', demanding its shares be bought back at a fair price, based on holdings at the book closure. If Johnson and Genovate fail to reach an agreement on the buyout price, Johnson will appoint lawyers and equity valuation experts to have the court determine the fair value of the shares through judicial procedures, ensuring Johnson's financial security and asset value.
Johnson also pointed out that regarding the convening procedure and resolution methods of this Genovate shareholder meeting, as well as the legality dispute of the share swap merger proposal, they are deliberating with lawyers and do not rule out applying for an injunction at the Commercial Court to protect the rights of shareholders opposing the merger.
Johnson stated that it maintains a positive attitude towards the consolidation of the biotechnology industry, and will keep an open and professional stance in the future, continuing to seek biopharma industry partners to further discuss potential business or production cooperation opportunities, aiming to create win-win situations.
(CNA Correspondent Ho Hsiu-ling, Taipei, 22nd) Genovate Biotechnology held its shareholder meeting today, passing a share swap proposal with Easywell Biomedical. Johnson Chemical Pharmaceutical, Genovate's single largest shareholder, stated it will legally exercise its 'share appraisal right' to demand that Johnson's shares be bought back at a fair price, based on the number of shares held at the book closure date. Furthermore, regarding the disputes over the legality of Genovate's share swap merger process, Johnson does not rule out applying for a provisional injunction with the Commercial Court.
Johnson issued a statement tonight saying that to defend shareholder rights, it will legally exercise the 'share appraisal right', demanding its shares be bought back at a fair price, based on holdings at the book closure. If Johnson and Genovate fail to reach an agreement on the buyout price, Johnson will appoint lawyers and equity valuation experts to have the court determine the fair value of the shares through judicial procedures, ensuring Johnson's financial security and asset value.
Johnson also pointed out that regarding the convening procedure and resolution methods of this Genovate shareholder meeting, as well as the legality dispute of the share swap merger proposal, they are deliberating with lawyers and do not rule out applying for an injunction at the Commercial Court to protect the rights of shareholders opposing the merger.
Johnson stated that it maintains a positive attitude towards the consolidation of the biotechnology industry, and will keep an open and professional stance in the future, continuing to seek biopharma industry partners to further discuss potential business or production cooperation opportunities, aiming to create win-win situations.