Roumell Asset Management Files Definitive Proxy Statement and Sends Letter to Enzo Biochem Shareholders

CHEVY CHASE, Md., Dec. 24, 2020

Roumell today also issued a letter to shareholders in support of its two nominees and its proposals included in its definitive proxy statement. Notably, Roumell has put forth two nominees and presented a pair of proposals to reconstitute the Enzo board by electing Roumell's two highly qualified and independent nominees: Matthew M. Loar and Edward Terino.  Roumell believes that the director nominees nominated by Roumell will, if elected, utilize their deep industry knowledge and prior experience on public company boards to the benefit of shareholders, and will provide new objective and independent perspectives to the Company's board of directors (the "Board").

Roumell urges all shareholders to vote the GREEN proxy card "FOR" both of its nominees, as well as for its two business proposals.  If Enzo shareholders have voted the company's white proxy, a later-dated GREEN proxy will revoke that vote. 

Since time may be short before the Annual Meeting, Roumell urges shareholders to vote by internet or telephone. Although the Company has remained steadfast in its decision to keep the date of the Annual Meeting as January 4, 2020, Roumell hopes that the Board realizes that it would be in shareholders' best interest to postpone the Annual Meeting until a later date that would allow shareholders to form their own opinions about the contested nature of the meeting.

Roumell believes that no harm or injury to the Company or shareholders would occur if the Company delayed the date of the Annual Meeting, and the decision to do so would signal the Company's interest in and support for shareholder democracy. In the alternative, Roumell believes that if the Company decides to refuse to delay the Annual Meeting, such a decision would signal an animosity for shareholders' interest and antipathy for shareholder democracy.

Roumell seeks to remove from the Board Enzo's long-standing Chairman & CEO, Dr. Elazar Rabbani, who Roumell believes has overseen decades of value destruction, while being paid egregious compensation.