Well I am not sure about this whole story. I don't particularly like Beasley but he funded THC because he believed in the product, that his wife had to use for her brain cancer, and this needs to be reminded. He seems to have been pissed off with something else than his eviction, which happened much earlier, and his letter and request for an EGM came at the same time we see that the new board has heavily helped themselves in the SPP through indirect interest, which of course is their prerogative but they also had to return the money to lay applicants because of over-subscription. As shareholders we received these detailed announcements and they are summarised here:
http://www.*.com.au/companies/news/...ce-in-medicinal-cannabis-strategy-191043.html
http://www.*.com.au/companies/news/...to-scale-back-share-purchase-plan-190330.html
Beasley may have maybe under performed I don't know, but he managed to make THC public which is bloody good. The new board may have well performed I don't know but the raise of price at the end of the year is not due to them, it is largely due to the decision of the government (mid-November was it?) to give the green light to import and export of medical cannabis; we could see the impact as all other cannabis companies share prices jumped the same way or higher.
Then again the CEO of Canndeo, the very dynamic and effective Andrew Beehag who was recruited by Beasley, has been given the boot and leaves end of March, which is a great pity because he had very proactively led his production sector and secured for THC the exclusivity of a system used in hydroponics to reduce considerably the need of the plants for water - great savings at this scale.
All in all at first reading of Ian Mutton letter I was going to follow him, but when digging in a bit further I am not so sure. Beasley had problems before because his management style seems a bit rough, read an older interview of what he says, not very PC and probably not very palatable in a team meeting...
All this to say I am not quite sure whom to give my proxy to, but because of the context and specifically if there is a chance to keep Beehag I am leaning towards Beasley. I should add I have no idea and no possibility to check if he would stay if Beasley wins the vote.
How do you guys read all this?...
(20min delay)