AVE 0.00% 0.2¢ avecho biotechnology limited

More serious issues than the name change, page-5

  1. 649 Posts.
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    Based upon a quick review, at this stage I'm contemplating to vote no on several resolutions, including the following but not necessarily limited to those that I'm mentioning here.

    Resolution 3
    Change of Company Name
    Vote = NO
    I've posted my views on this issue previously

    Resolution 4
    Adoption of Conditional Rights Plan
    Vote  = NO

    This is simply a preamble to facilitate Resolution 5

    Resolution 5
    Grant of Conditional Rights to Dr R Murdoch
    Vote = No

    Milestones are too soft and benefits are too generous.
    If he can't do what is set out he needs to be given the chop.

    Example - Milestone 1 for up to 33% of rights
    Only needs to satisfy two of five possible conditions to get half of these rights... That should be a no brainer. Condition  #4 =  Selection of a new priority molecule...

    Resolution 6
    Approval of of rights to Dr R Murdoch on Accelerated Event...
    Vote = NO
    The low thresholds set out for a merger or takeover means his benefits are not aligned to shareholders. In my opinion the business could get sold cheap, Murdoch could get rewarded for a crap deal and shareholders get screwed. We could be left like the proverbial bride at the alter, a potential takeover suitor normally does so because they recognize the price for acquisition is cheap compared to possible pay back.

    I don't want to see the benefits of my investment be sold off cheaply, and in particular I don't want to reward our CEO for doing so.
 
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