The Non-Exective Directors, Dr Pond, Mr Thomas and Professor Locarnini also have a duty to protect shareholder interest in the company.
They can't just sit idlely by and see what's going on without saying something. They otherwise appear to be placed in the company as props and each earn $43,800 a year for exactly what?
Why is Michael Hoy getting paid $82,125 per year? His past life was with John Fairfax. So, where is the value in his involvement in a Biotech company, especially as Chairman? C'mon!! Vote to remove Michael Hoy - no confidence.
Peter J Nightingale appears to have been double dipping all these years. See page 32 of the Biotron Limited Annual Report 2021 and you will notice at 17. Related Parties that he is a director of MIS Corporate Pty Ltd. MIS Corporate receive a fee of $144,000 a year for services provided such as administration and rental accomodation. WHY ON EARTH does Biotron need two offices, one in North Ryde and the other in Sydney CBD and moreover, why doesn't anyone pick up the phone in either office when you call?
If you check the Biotron website you will see that Mr Nightingale is a director of several other companies (all mining related) and that the Biotron office in Hunter Street Sydney is also office to these other same companies.
Mr Nightingale receives an annual fee of $84,000 from Biotron for company secretary duties and along with his earn $144,000 from MIS Corporate totals $228,000 every year. To put it into perspective that's over $2.2M in the last ten years and for what? C'mon!! Vote to remove Peter Nightingale - no confidence.
I see on the Biotron website that only he and Michelle Miller are listed as the Management Team.It would be interesting to see if Ms Miller or for that matter Mr Hoy hold any stock in Mr Nightingales other companies? If so, there should be disclosure.
Close down the Biotron office in Hunter Street immediately. It is not needed, Ms Miller who grabs $405,00 per year and it makes me sick to the stomach. C'mon!! Vote to remove Miller - no confidence.
Dr Angela Delahunty and Jey Investment Pty Ltd (top two shareholders) are you listening to our concerns? What have you got to say about how this company is being run? Please make your voice heard at the AGM.
Lastly, on the page 17 of the AGM report Profit and Loss: what exactly are the other expences from ordinary activities ($349,369) over the past year? Please explain!
BIT Price at posting:
4.9¢ Sentiment: None Disclosure: Held
