BUD (ASX) Ann: LOI signed to acquire assets &amp; business of Noveda-BUD.AX

Originally posted by sydneyr ↑

Totally agree.

I know that shareholders have rights in how we "decide" Dave should run the company.

I would like to reiterate that Dave spent 11 years at Microsoft in business development and project managment. He was an advisor to the Bill & Melinda Gates Foundation for 3 years, plus extensive experience in intensive accelerator programs.

On the Board of Directors is Rick Borenstein. Rick Borenstein has been an entrepreneur and a venture capitalist for the past 30 plus years. Rick was President of Wells Fargo Investment Company (a bank owned SBIC) at the end of his 10 year stint at Wells Fargo Bank. The fund he ran produced double digit multiples of invested capital for its limited partners. He left Wells and started 5 companies in quick succession culminating in a CAD/CAM software company named I.M.S.I. which he took public in 1987.
Also in 1987, Rick co-founded Sequoia Partners, a “boutique” information technology M&A firm operating primarily on the West Coast. Together with his partner, Sequoia represented over 250 software and services firms for sale over the ensuing 25 years. In addition, as managing member of Bonanza Management, LLC, Rick organized and syndicated two dozen venture investments with the financial support of many of the successful entrepreneurs (AKA “alumni”) who benefited from Sequoia’s services. Over 70% of these seed investments resulted in successful exits to larger public companies.

I like to think of myself as having extensive business experience too but I might be a 1 on the scale if Dave and Rick are 10 on the scale! It is easy to criticize but these guys didn't make it to where they are through luck.

I believe in the potential of BUD and know that these guys will deliver. There are administrative work that needs to be completed and these things take time. BUD has delivered on their promises and milestones are on track. As with other stocks, you need to be patient. Everything will be done correctly and when BUD's share price runs, it will be well worth it.

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Actually Sydneyr, shareholders have no rights to "decide" how Dave runs the Company. The management of the Company is the responsibility of the Directors and not of shareholders. If you were unhappy with how the company was being run, and could muster at least 5% of the voting power, then you could lodge a 249D and seek to change some, or all of the board - but not to decide how the company should be run as a shareholder...