Ann: Performance Shares - Claims received from holders, page-35

As a concerned shareholder I have made the following observations.

Concerned about what may happen out of the court action. Both for share value and Bundaberg relationship i.e licence 

 

- Southport facility that was purchased for just over 2 million dollars. How can this facility then be revalued at $17,000,000?

Has THC paid the difference in stamp duty to government or is this another problem that the company may face?

This facility has a number of staff that must be being paid whilst THC wait for the manufacturing licence.

- The Canadian business had a turnover of 1.2 million so maybe 3 million for the year. 

This would value the business at a few hundred thousand in good will at best plus stock, yet its CEO is to be awarded 250,000 shares as sign on to manage this business when he had quit the job previously.

- Beasley initiated the board spill on the grounds of governance, why are all these people getting shares including the Canadian manager who was given shares for his business which does not look like it has performed as per the initial hype.

- Consultants and employees have been issued shares who are they and why are they issued when there is a proposed employee option plan? Is this not double dipping.

- Where is the transparency that was promised to shareholders?

Where is the new chairman?

They promised to find a high calibre ASX experienced chair, Xu was only meant to be interim because he is not independent.

- Why does a small company like this need a deputy chair?

- Continued announcements without any new information, like how much in the way of cannabis product has THC actually sold?

- How is a self-indulgent EGM beneficial to increasingly scarce shareholder money rather than wait for the AGM for shareholder approval?

Alan Beasley organised a board spill citing poor governance at an expensive EGM rather than waiting for the AGM which he must have known was coming.

Management should address these concerns to shareholders prior to EGM.