okay - what to do?

I asked some weeks back and got no response. Is anyone a member of the ASA (Australian Shareholders Association)?

Any advice here?

The goalposts have been changed by management effectively one minute to midnight.

Shareholders are put in a position where they must accept the changed rules and still vote Yes or No.

If they vote No, it implies that they disagree with this NABI deal. If they vote No, management have said they will still pursue a US move - it just means that the method is different. The cleaner the method (e.g. direct list), the higher the upfront cost.

The big problem is time. A vote of No likely delays any alternative process to move to Nasdaq by 6 months. Are we up for this? Possibly - we've waited this long - do we want to do this properly?

What other comments can we make about the current plan (or any plan for that matter)?

Is there the expectation that upon a move to Nasdaq, the stock will be "appreciated" and understood by a far more Biotech savvy investor and therefore will head north regardless? In which case, all this crap is just a short term pain? If this is the expectation, then a Yes vote, reluctantly soured as a result of a POOR management, is still the right move.

What of current management? I think this is the key. Regardless of a Yes or No vote, I would be looking to cut-off PC immediately. I'd be looking, for example, to go to Hunter Hall and East Hill and suggest they take/recommend majority positions on the board and bring forward the changeover to Russ Plumb from Day 1. How this is done is another story.

Suggest everyone speak to/email Hunter Hall and East Hill and gauge their opinion on all this.

Now to one of my favourite sayings:

You can't unbake a cake.

In other words, once it comes out of the oven, it is cooked and you must eat it regardless of the taste (or throw it out and start again). Is it likely to taste okay? Did it need an extra egg to hold the ingredients together? Too late to add the egg after it is baked.

However, if you are still tinkering with the ingredients, you are in a position to rescue the recipe, or indeed, start again before going through the baking process. It just takes more time, but you will likely assure yourself of a better result.

This is, I believe, a relevant analogy of the situation we find ourselves in.