Not even the most defiant of Silviu fans can defend this one. I got blasted for questioning his management before the AGM.
He will literally have instructed the company secretary to specifically word the share placement as "financial transaction". No company secretary worth their salt is calling a share placement a "financial transaction" in a trading halt submission to the ASX. A new low. I cannot recall seeing a trading halt for a capital raise via a share placement trading halt ever portrayed as a "financial transaction" in years of reading them religiously. The shares suspended, The event happening. The wording makes no difference, just call it what it is - a share/rights placement.
We all know the very convincing evidence behind MSB, but come on guys? The share price is not going to get any worse for discussing some very poor management decisions and strategies over the years. Sure we can all moan about FDA inconsistency and NIH incompetency, but SI and gang gave them every opportunity. Good management minimises the risks of such eventualities.
The allusion to partnerships amongst ASX bio0tech CEO's not limited to SI, but it makes it no more defensible. Simple poor management delivery. He talked it up at the AGM and a load of well meaning attending shareholders relayed his comments on here. and alas some retail will have bought more shares on his words. He talked up the share price in preparation to drop this discounted placement at better levels. Its what poorly performing CEO's have to do.
SI is irrefutably a poorly performing CEO. Not saying he should necessarily go, but he is a steward of shareholder capital that has been employed to uncover the potential of Remestemcel-L and Revacor in commercial application, he has undeniably done a poor job in that aim. He has promised so much now, taking a lot of capital again and again and failed to deliver on commercial pathways.
I am reminded of the frog that successively leaps half the distance left to the edge of the pond, never quite making it.
Ann: Trading Halt, page-166
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$1.17 |
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Mkt cap ! $1.330B | |||
| Open | High | Low | Value | Volume |
| $1.18 | $1.22 | $1.15 | $6.344M | 5.404M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8683 | $1.16 |
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| Price($) | Vol. | No. |
|---|---|---|
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