Trinity Biotech plc (NASDAQ:TRIB) Q3 2022 Earnings Call Transcript

Operator: Hello, Andrew. Is your line muted? Okay. There are no additional questions at this time. This concludes our question-and-answer session. I would like to turn the conference back over to Aris Kekedjian for closing remarks.

Aris Kekedjian: Thank you. I appreciate it. Look, I just wanted to give out a comment or two around the recent 13D filing by the MiCo Group. I wasn’t surprised by it given my knowledge of all the facts. I don’t think it’s worth seriously addressing the individual points. It chose to raise. But first and foremost, to be clear, I was recruited by MiCo initially as a Board member and subsequently put forward by them as CEO. My assessment of the situation is this is all about control and not about shareholder economics. There’s a clear stable mentality at work here. A 29% stake does not entitle you to control. The tender rules are clear and are there for a reason. They are there to protect all the shareholders. MiCo like anyone else has the option to make a proper bid for the company.

Just remember, their market cap is about $230 million. I imagine we take significant resources to acquire Trinity at a price of the Board and shareholders would find compelling in light of the ambitious and attractive value creation opportunities available to the company. It was obvious to me when MiCo asked me to join the Board and then put me forth as CEO that Trinity had several compelling market opportunities that also clearly had been in a turnaround situation for several years. My focus, the focus of the Board, the management team is a complete turnaround to instill operating rigor, build partnerships and ambitiously rejuvenate the growth potential that lies ahead of us. That’s all I have to say about the matter, and with that, I’d like to thank all of you for joining us today.

Enjoy the holidays. We look forward to an ambitious and exciting 2023. Thank you.

John Gillard: Thanks, everybody.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.