Petition updateProtect cytrx retail investors from dilution on Oct17 reverse splitCopy of email sent to D Haen, SK & J Caloz today
J GNC, United States
Aug 30, 2017
Dear Sirs,
Please see below link from shareholder petition regarding Cytrx upcoming reverse split.
The shareholders in this petition are insistent that unless the number of unauthorized shares are reduced in the same proportion as outstanding shares we will vote against your r/s proxy. It is clear to us that you are seeking to reduce fully diluted ownership in CYTR from 66% to 22% and we refuse to let that happen.
The petition has 206 signatories, 84 of whom have shared their holdings totaling 5,514,099 shares as of 8/28. The remaining signatories were concerned did not divulge their holdings many expressing concerns regarding trust of cytrx management. As the stock held by individuals vary across the group I believe that it is reasonable to assume that total held by the entire 206 will be approximately 13 million shares.
You should be clear that when this r/s fails, you will be entirely responsible. You still have time to update your proxy to impact only share price, and secure our ”yes” vote.
The ball is firmly in your court.
https://www.change.org/p/dhaen-cytrx-com-protect-cytrx-retail-investors-from-dilution-on-oct17-reverse-split?recruiter=766855216&utm_source=share_petition&utm_medium=copylink&utm_campaign=share_petition
Jeff Green & 205 CYTR shareholders
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