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SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
Filed by the Registrant [ ]
Filed by a Party other than the Registrant [X]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission only (as permitted by
Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[X] Soliciting Material Under Rule 14a-12
NORTHFIELD LABORATORIES INC.
(Name of Registrant as Specified in its Charter)
C. ROBERT COATES
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(Name of Person(s) Filing Proxy Statement if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] $125 per Exchange Act Rules 0-11(c)(1)(ii), 14a-6(i)(1), 14a-6(i)(2) or
Item 22(a)(2) of Schedule 14A.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
1) Title of each class of securities to which transaction applies:
2) Aggregate number of securities to which transaction applies:
3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
the filing fee is calculated and state how it was determined):
4) Proposed maximum aggregate value of transaction:
5) Total fee
paid:
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
2) Form, Schedule or Registration Statement No.:
3) Filing Party: C. Robert Coates
4) Date Filed: August 15, 2002
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Press Release
SOURCE: C. Robert Coates
Coates Proxy Campaign for Northfield Cited by Crain's Chicago Business
LAKE FOREST, Ill., Aug. 15 - The campaign spearheaded by C. Robert Coates
and Bert R. Williams III to secure seats as independent candidates on
Northfield Laboratories' (Nasdaq: NFLD) expanded seven-member board
receives prominent play in the latest issue (Aug. 12, 2002) of Crain's Chicago
Business.
Highlighted in the article, "A Shareholder Activist Has Shaken Up
Northfield Laboratories Inc.," is Coates' dissatisfaction with current
management for failing to advance its PolyHeme product with the Food
and Drug Administration and for dawdling over a decision to line up a
partnership with a major pharmaceutical company to capitalize on the
blood substitute's potential.
The article also cited the dismal performance of Northfield's stock,
which is now selling below $4 a share, down from a high of $34.88 in March
2000.
Maryland-based Institutional Shareholder Services (ISS), which keeps
institutional investors abreast of corporate governance issues, told the
business publication that before it takes a stand on Mr. Coates' slate it
plans to review Northfield's proxy. Quoting Patrick McGurn, a vice president
of ISS, the article continued: "He (Coates) seems to be a bona fide
investor who looks for obscure and seemingly undervalued companies, and
he hounds them to make changes."
Northfield Chairman and CEO Steven A. Gould told Crain's that the company
continues to hold discussions with the FDA but "It is certainly possible we
will need to do more tests." The executive said more testing would eat up
the company's cash supply of $18 million -- a supply that would otherwise last
18 months.
Commenting on the Crain's article, Mr. Coates said Northfield's poor
performance in the market speaks volumes about how investors are judging this
company. "Uncertainty from Northfield is killing the stock," he said.
Mr. Coates is urging Northfield shareholders to submit only the Coates-Williams
proxy for the Sept. 13 annual meeting.
Contact Information
If you are a shareholder with comments, suggestions or questions about
receiving a Coates-Williams proxy, please call Simon Goldberg of the Robert
Coates Group at 1-800-295-0841, extension 240 or e-mail us at
sgoldberg@rcoates.com.
SOURCE: C. Robert Coates