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JohnnyBlue

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11/06/20

09:57

Post #: 45153261
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Originally posted by needle: ↑

I have a written explanation from the company, as to their reasons for the way the CR was undertaken.

It would be easy to paste it here...but overall, I don't think that is showing respect or regard for another person. That despite the fact, some views posted here are not exactly positive towards company individuals.

The content of the response (reasons) for the CR really worried me and I told them so. Accordingly....I am concerned that further poor decisions will be forthcoming. eg as highlighted the other night in some detail....how do you think a $20m upfront license deal would go down. IT IS POSSIBLE - based on how this CR was handled. People might say - you were correct to be concerned needle (but it will be too late then). Thus a need for a new Chairman now.

The main points were.....the company thought the reaction to the news and a further deterioration in the virus situation would see the SP go down further. Also their actions was based very much, on advice from consultants and advisers.

I formed a view...that they do not know about these things. They are naive to the finer points of doing a raise like this. You do not need to get advise on a raise like this....its a basic function of running a public company ........worse still I am sure one of their advisers would of been the lead broker Citigroup..... the absolute last people you ask for advice. Their agenda is fees and their clients - laughing behind the back of the company I am sure. (Little did they know - how poorly handled the whole matter was, it killed it for their own clients.

As for the virus....for gods sake, just go with the raise after 24 hours. That is so basic.

Reasons for ongoing concerns are real here.

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Agree 100 needle

KZA Price at posting: 41.5¢ Sentiment: Buy Disclosure: Held
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Agree 100 needle

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