On October 3, 2022, Mereo BioPharma Group plc confirmed that it has received a valid notice from Rubric Capital Management LP under section 303 of the Companies Act 2006 requiring the board to convene a general meeting of shareholders of the Company. The Company stated that Rubric has rejected the Company's reasonable settlement proposal and has escalated its costly, distracting proxy campaign to now seek control of the Company's board. In addition, the Company reiterates support for its experienced, qualified board and urges shareholders to reject Rubric's proposals to replace a majority of the independent directors at the upcoming general meeting.