Ann: NEW 2022 Annual General Meeting Date, page-48

In a word, “yes”.

This new group have been responsible for raising all the IHL capital during the past 5 years, more than $70m. They participate personally and as a result many of the top 20 in that company are either part of the group or introduced by them. Importantly the placements have always been at increasingly higher prices, unlike Bernie Tuch who raises money at lower prices.

The Chairman of IHL is the co-founder of Alignment. His shareholding in IHL is public record, have a look at the latest Annual Report. Now compare that level of conviction to Bernie Tuch with his $635 holding, it’s embarrassing.

When these guys got involved in IHL it was a busted up mouth guard company with a market cap around $5m. They turned it around to be a $500m biotech, dual listed on the main NASDAQ exchange, and included in the ASX 300.

IHL have some of the best scientists in Australia and their clinical programs are best in class. Alignment have been (and continue to be) intimately involved in developing this company and introducing the expertise required. As an example the latest recruitment is big Pharma. He’s ex-Pfizer, currently at Novo Nordisk which is a $235 billion dollar Danish based Pharmaceutical company.

I can’t see one reason why shareholders would not remove Bernie Tuch, Robert Willcocks and Andrew Kelly. Incidentally, Andrew Kelly likes to be called a Doctor but it’s he’s not a medical Doctor, he’s a vet.

The whole company is amateur and it needs to be refreshed. Bernie Tuch is working one day a week for $170,000 and has a $635 shareholding. That’s a disgrace and as long as it persists shareholders are going to continue to get slaughtered.