Ann: Race Leadership Changes, page-380

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PlayMoney76

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27/03/23

13:21

Post #: 66975753
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Originally posted by M@g123: ↑

Whilst I am forever optimistic on Race , I do need to be pragmatic here.

Looking at the announcement, there are couple of things that concern me.

1) "I have full faith that our CEO Damian and the Race clinical and preclinical teams have the capability, skill, and drive to ensure Race’s success" : He clearly didn't want to mention the Race Board/Management team here. Why ? It suggest that he had beef with not only JC perhaps more than a few members of the board ? Why? Surely if it was FTO vs Cardio , he could have convinced the board to split the company or spinoff the FTO .

2)" I have no current intentions of selling any of my stock" : He very specifically says the word Currently . Which means that he does not think he will continue to hold his entire position. What does that mean.

@johndprent mentions section 249D , "A section 249D notice allows a shareholder or shareholders with at least 5% of a company’s share capital to force the company to call a general meeting to vote on resolutions proposed in the notice." Why didn't Dr T exercise this option and let the shareholders decide the best next course for the company. For someone who holds a significant portion of his wealth in Race , I would rather be behind the wall than on the other side of it.

Unfortunately these events have worried me quite a bit , the drug is amazing but my worry is that Race Management might screw this up. We have seen in the history of Zantrene that bad choices lead to this drug being lost , hopefully it doesn't happen again.

Those holders with substantial positions , are you trying to get more information from DCB on what necessitated Dr T's departure from the board ?

Also would Dr T be bound by an NDA on what is happening behind the wall in Race ?

Expand

it’s understandable to be a bit jittery after Friday’s news. I think if you look back at previous announcements, you will see Daniel has used the “currently no intention to sell” phrasing before - it’s not a change, I think it’s just ass-covering / keeping the option open and avoiding a Phil Lowe situation with “rates to stay low until 2024”.

I don’t think spin-offs and licensing by indication is as straight forward as many on here believe it is.

I’m hoping that Daniel decided that a messy public board battle wouldn’t have been in shareholders best interests. I believe he is genuine about doing right by shareholders and still believes in the race opportunity.

I’m still fully on board - just need to find a new cool-aid supplier.

RAC Price at posting: $1.83 Sentiment: Hold Disclosure: Not Held
29 Upvote

2 Great analysis

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