The more I think about this situation the more we need to look at this situation in the real light of day & with facts & evidence.
We’re taking that AB is of the highest integrity, are we basing this on a few lines in a bio? I’m not doubting his integrity, but we’re taking it on face value as nobody here on HC actually knows him. Also if we’re comparing him to Ian Mutton it may seem obvious he’s a better man, no doubt.
It seems we’ve courted, tried & put mutton to the guillotine, yet nobody has any poof or even named a company that he’s been shonky at, even though I’ve asked. I’ll be digging deep over the weekend to find any & all dirt on him. If the hearsayers know of his erroneous behavior, name the company/ies, put the facts & wrong doings on the table & all be educated with what we’re dealing with. It’s only fair & just. It would make lot easier for undecided voters.
THC’s run as I’ve seen it from day dot is as follows;
AB was chairman & named his board, he appointed mutton himself, that’s the chairman’s job, he’s had dealings with him in the recent past at Hudson’s so saw good in him just few months back. obviously looked beyond these apparant wrongfullness of the past
THC listed & 1st day closed at 40c, after 6 months on ASX, only a couple notable anns;
- Gaining the research licence….which you could get from a showbag at local fair.
- Deal with Phoenix Life Sciences in Colarado USA, which cancelled since. Why a USA company when federally there they can’t import/export cannabis over state borders.
SP after 6 months closing at 25c.
The board at this point wasn’t happy with THC’s progress & lack of direction. Events unfolded, there was a board shuffle & seems AB took the blame being top of the food chain at the time & was dethroned from chairman to director. I wouldn’t say that’s unreasonable decision with previous 6 months progress & SP movement.
I can’t say to many SH’s would’ve been too happy with THC’s 1st 6 months progress either.
Since October, new board & incumbent CEO had numerous anns (not going to name them again) in 3 months & recognized as top tier of AUS MC companies. SP as gone 350% (25c to 80c range before latest US correction & this board pillow fight). Now before the negative nancies claim THC SP rise based on whole MC sector growth in this period, the sector was rapidly rising throughout 2017 with majority of companies followed suit, except THC until late 2017 under new board. Major sector rise early Jan after gov ann of exporting law to pass, THC rose during November 2017. And yes ppl will claim that was cos previous management. When you have 6months in the role, all other MC rising & your not, it’s a responsible board to look at change to get out of 1st gear.
Have a clear direction of expansion of already revenue generating Canadian business & progress MC here with growing facility, importing of MC products, NAC clinics & 3rd licence.
Now they are the facts & past & present.
Are we prepared to ditch a forward moving, clear direction board & CEO over some issues that have no proof. If proof was shown in AB’s notice things would be completely different & be id be 1st in line to adhear to ridding our board of ill character individuals, but it’s just statements, does anybody see evidence?
I would not like to see the company put back 6 months, SP dip to 50c & start again with no clear, newly stated direction. Apart from going back to prospectus written early 2017. This rapidly growing MC sector needs flexibility & direction change at times to succeed.
I read AB concerned about CEO salary, we know CEO salaries are extravagant, multiples of average joe salary, it was negotiated with the board & accepted, not an issue. We need to see evidence of these corp governance issues. Most will be voting prior to the EGM as not many of the 4500 SH’s will attend so need to see evidence prior to make educated decision.
We have no evidence of AB accusations & no evidence of mutton’s shonky working’s. Also I see mentioned he’s 70yo. Wow I didn’t know 70 yo's were completely incompetent & incapable of running chairman position in a small cap company. Some would say plenty of experience in a 70yo.
All in all seems a little revengeful, getting back at a board that AB hand picked who demoted him in search of improving THC prospects.
We need evidence, THC board have detailed their side & AB’s non-communication with board & this EGM process, lawyer costs & time wasted deviated away from what Boards & CEO’s should be concentrating on is obvious & far from ideal.
Bit uncooperative & of self interest I'd say.
ok
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