I'm concerned that I haven't had any response to my email from Wednesday 20/3 seeking a range of infromation related to the issue of options, the future direction of the company, and the BioHub loan which I specifically requested for the purpose of helping me decide how to vote:Could you please assist mewith some information to help me decide how to vote at the upcoming generalmeeting.
The current Board has been inplace for 6 weeks since the restructure and is yet to provide investors or themarket with any guidance post the company’s prior half year activities. Inparticular,
- Why did the restructure eventuate, and are there identifiable (and solvable) problems with the management or its reporting?
- Why does the CEO remain in place and is there a search being undertaken to replace him?
- What are the current board’s plans for the company? Where is any statement from the new Board about what is going on?
- What is the trading position of the company in 2024, and in particular how are the revenue streams tracking in this financial year?
- Should there be any update in respect of the Biohub loan (noting that potentially conflicting information has been released by AUH as to the restructure of that project)?
- Why do non-executive directors need or deserve such potentially lucrative remuneration to ‘align their interests’ with the company when Mr Tilley and Mr Kolenc’s interests are already aligned with the company through their substantial shareholdings. While I appreciate that the reduction in cash expenses is beneficial to the company, the potential dilution of shareholder interests in a company with such a small market capitalisation seems to be unwarranted. Particularly as Mr Tilley as NED was part of the Board the has presided over such destruction of shareholder wealth in past years. Has any valuation of the options been undertaken? Shareholders should be aware of the value of the options that are being granted.
It seems to me that all ofthese matters should be addressed in a communication to shareholders ahead ofthe upcoming general meeting.
I hope that you can provideme with a satisfactory response to my concerns to persuade me to votefavourably on the proposed resolutions.
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