You guys are spot on. And whilst there are a lot of toys being thrown out of the cot about this CR (fairly justifiably as we've seen it decimate the SP to less than half what it was 2months ago), this EGM is to ratify the management's participation in the raise, at the soph/insto level of 8.4c.
Whether the folly of the CR structure and ensuing SP decline was foreseen or not, why would any shareholder in their right mind vote against PH, LC & Co coming good on their word committing $840k to the raise AT 8.4c.. when retail SH are about to buy in for the same offering at near 5.5c? Vote YES - of course.
As for the AGM.. choose your own adventure
IF there's any repeat of outlandish remuneration granting in the face of complete erosion of SH value, then there's cause for thought on the vote. But if there isn't any such thing this year, and I believe its unlikely given the year that's been, then coordinating a 2nd strike against for a petty grievance in the past is equally absurd and would only further damage your investment. Destabilising the board. And replacing them with who?
This https://hotcopper.com.au/threads/class-action.7586149/page-87?post_id=69974249 post by @dalts (whilst its on a sh!t thread, should be required reading for any IMU hodler or self proclaimed biotech investor.
GLTAH & Patients
Ann: Notice of Extraordinary General Meeting/Proxy Form, page-82
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Last
4.6¢ |
Change
0.001(2.22%) |
Mkt cap ! $342.1M | |||
| Open | High | Low | Value | Volume |
| 4.5¢ | 4.7¢ | 4.5¢ | $906.2K | 19.67M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 9543864 | 4.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.6¢ | 1266571 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| IMU (ASX) Chart |