biota basics, page-8

PC gets paid handsomely just for turning up to work.

Biota is a just over a 100 million dollar market cap company (& shrinking everyday since the decision to leave Australian shores and NOT dual,list on the ASX) .

It seems exhorbitant that PC earns a total salary package approaching one million, particularly seeing he and the board were totally outplayed by institutions representing the junior merger partner NABI, and, in the past, was completely outplayed by GSK in the Relenza dispute. He has also failed to attract any interest for Biota's promising pipeline.

Anything over and above his very high base salary should be based on performance. He has been given free options base on projected future outcomes ie normalisation of GSK relationship.

However, the projected future has never been realised in his seven years at the helm. The ultimate measure of a listed company is the share price, and he has failed at every turn when it comes to increasing shareholder value.

He has been paid handsomely over the last seven years. He should NOT accept one years salary to resign from Biota, he should NOT accept a position on the BOTA board, and he should relinquish ALL the free options he has been gifted.

Everything we've heard from management about increasing shareholder value has not eventuated, In fact the board seem to not even care about shareholders evidenced by Jin Fox's belittlement of those who dared question the mechanics of the merger back in October.

A 50% fall in value since the merger was announced in April is an unacceptable way to end 2012,

Let's hope 2013 is a much much better year for Biota shareholders. It is hard to believe how bad 2012 turned out

Our board and management should take responsibility for where we have ended in 2012. They have failed their shareholders dismally

Still I hold hope that Plumb can turn things around ( I have little choice other than realise a substantial loss) He has unfortunately been too quiet for a new entity in a new market with a new leadership team. Interest need s to be generated quickly or we will continue the torturous downward drift of 2012