I scan this HC thread from time to time and appreciate the efforts of others to help me better understand my investment. I have sent this to IMU investor relations tonight. Before you berate me... I know they cannot tell me anything not in the public domain however I feel with the vagueness of this whole company and as a shareholder, I am well within my rights to seek clarification. I am sure I will get a very generic one sentence answer but it will at least make me sleep better.
Hello Team, As a shareholder over the past few years I have to say that while I 'trust the science' I am beginning to lose faith in management. With another cap raise being pushed through with the share consolidation - how are we meant to vote on resolution 2 when we have no details about who these shares will be going to? If it is a long term/large bio tech institutional investor who sees potential that is one thing but if it is yet another low brow raise like the convertible notes were, then where is the return of shareholder value? It is all very vague... what will the raised funds be used for? I am presuming Azer-cell trails as that is our most likely commercialisation path but can this be communicated clearly. I cannot see that being a difficult task. And at what price are they being issued... all I can find is c) the New Shares must be issued within three months after Shareholder approval; (d) the New Shares will be issued at the Issue Price. Once again very vague statements for shareholders to make an informed decision
In regards to management salaries - I understand you need to pay a good salary to attract and retain good people however with the share price at multi year lows surely now is the time to really justify to shareholders the value that Leslie and others have contributed while earning circa $2.5 million dollar packages. Surely a review of remuneration is on the cards tied to the share price performance?
I will continue to hold this long term as I truly believe that the value of the company is nowhere near being realised, however clearer communication and timelines would be appreciated to inspire some investor confidence. The stock is down 54% YTD, surely there is a concrete plan behind closed doors to stop the erosion of shareholder wealth and steer this company back to a more rewarding path for all involved. I look forward to you helping me better understand. Thank you for your time
IMU Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
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