Interesting, all this activity has resparked my interest. I just picked up the annual report - anyone else notice this incoherent mess on p7 (Top part of photo with brown background) of the report in relation to the Galderma contract termination?
“The fact and details of the termination agreements had not been provided to members at the announcement of both the board of Quintis and its senior management based in Australia”
Compare this to the original announcement in May which states that none of the CURRENT Board or senior management at QIN were aware (bottom part of photo with white background).
Wonder if this was a last minute change and if it has anything to do with the defamation case brought against the board?
Also, as brought to our attention by John & Co yesterday, if it is a requirement that a director execute the termination agreement, why on earth did the board ratify the termination by making the announcement? Surely the directors of QIN should have known who is authorised to execute agreements? That’s compliance 101...
I for one would be fully supportive of any action on the basis of negligence brought against them and not the company.
QIN Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
