Hi again, everyone. A few last minute thoughts on our AGM this week, if I may:
As you'd all probably guess, I’ve voted to support our company at this crucial time, with multiple deals on the table. Therefore, “For” for Resolution #1 and “Against” for #2. I'm also voting “For” to re-elect Cynthia Thomas, as she provides investment banking expertise, so will be playing an important role in finalising the bridge finance facility and probably also in structuring the strategic partner deal. Am also voting “For” #4 to give our company as much flexibility as possible until an equity partner and funding are secured.
Btw the first strike we incurred last year was not due to an overwhelming swing against management. Only 15.4% of shareholders voted in 2023 (1.17m of the 7.64m shares on issue then). Therefore, the 27.9% vote against remuneration was cast by only slightly more than 4% of our shareholder base—a very slim minority.
I’ve heard Automic has been conducting an education campaign, to inform shareholders of the potential consequences of a spill motion, which could incapacitate our board at this sensitive time of negotiating deals to secure Lepidico’s future. Of course I’m voting for stability and am hoping a majority of shareholders agree.
A big risk imo is people not voting at all. The silence of patient shareholders last year allowed the more vocal disgruntled holders to register a first strike. (The 25% required for a strike isn’t of a company’s entire register, but merely of votes cast, thus last year's 4% of shares on issue.)
So all of you who are still confident (or at least, hopeful) that our executive management, BoD and Jefferies will pull this off, log onto Automic and vote. Shareholders have until tomorrow, 19 November, 10:30am Perth time, which is 12:30pm in Brisbane and 1:30 in Sydney/Melbourne.
Also, someone mentioned last week that we can alter votes we’ve already placed. So if you cast your votes previously, but have changed your mind (one way or the other, as you think best), you can log back into Automic and change your vote.
Good luck to us all and especially to our management team in securing our company’s future during these very trying times. Cheers, all.
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