I'm sort of glad and sad to see David go, it just sadly didn't work out. Not forgetting to look back as to why Ewan and David were recruited.
The Derek Thompson webinar debacle, failed TGA approval, the disasterous timing of the CR and the Eugeni fiasco. There were so many cock ups and blunders around that time that the board/company looked like a bunch rank amateurs. The company needed to prove legitimacy again. They do this by recruiting big names.
" Look at us we might have cocked up big style but look at the quality of executives we attract, we're the real deal".
Hence Ewan, David and David's remuneration package. Big name big salary. He didn't award himself it, the board sat down negotiated and agreed to it. It is a sad old shame that David couldn't get any deals signed and that's still an ongoing concern. Everyone to their own but I certainly don't see David's departure as a buying opportunity. See what the bigger market thinks. Our fundamentals haven't changed, low on funds, a great chance a CR will be needed but an opportunity for someone else to get that ellusive deal.
I don't know what was discussed with the top 20 in there private conflab, I also don't agree with it.
Maybe the board structural change, maybe other things to steady big holder nerves, who knows.
Whatever it was it gives them exclusive knowledge over other shareholder to choose to buy or sell.
I duff my cap to semi for his stance of not going along with it. Good luck to all of us going forward.
ADO Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
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