Your kidding right? MT has done a shocking job in the last four months and is the sole reason for the SP collapse.
Quitting his job in the middle of the momentum at 30c down from almost 50c a share and right before the release of the FDA announcement that most likely would have pushed the price well into the 40c or higher range.
If he really did quit for "personal reasons", in his position as the CEO, he should have handled the announcement better than the "CEO resigns and Johns taking over" announcement that shocked the SH, crashed the SP and left the board in disarray until he miraculously gets over his "personal reasons" to come back as the triumphant hero.
If he hadn't had his "personal reasons" (which was code for "I didn't get what I wanted so I threw a hissy fit and quit") the SP would have stayed near 40c and screamed higher after the FDA announcement. and even higher again on the Heally announcement!
He then does a cash raise at 19.5c for a measly $18m. This cash raise should have been happening in the 30c - 50c range based off the momentum of the results and the FDA approval gaining $30m plus for the trials ahead.
There's no doubt he is a very good salesman, you cant deny that, however saying he has done a marvellous job is an absolute joke. He has personally cost the company and SHs many millions of dollars and left the SP in disarray at a ridiculously low price.
I will be voting no to any entitlement package he requests at the AGM and you all should be voting no to it too, I will be voting yes to the rest of the board with a big fat NO for MT so that he is aware he is on notice for the rest of the year.
He should not be rewarded or celebrated for the past four months in any way..
PAA Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
(20min delay)