...which is why a vote of no confidence in management is probably more meaningful and better describes the feelings of the average shareholder. Everyone is indecisive - it started with management over and over again in its business decision making, its inability to "sell" the company to investors, its inability to finalise/confirm a ROW arrangement with Daiichi Sankyo, and now, its inability to find the best Nasdaq entry opportunity, or (if NABI is as good as it gets) even to "sell" the NABI opportunity to Biota and NABI holders. Is it any wonder the market is not enthusiastic or interested in the positives of this company?
Problem is, it is too late to try to introduce a motion of no confidence in management at the upcoming vote, however, the AGM is a different story.
Once no confidence in management is sorted out and the sooner we have a new CEO, the sooner we can all look forward to unlocking value in Biota, be it from the ASX or Nasdaq.
Brian McNamee would be great, but he is with CSL for another 12 months - we can't wait this long.
I am happy with the idea of moving to Nasdaq, as long as the vehicle is sound, it is a good move, but we need a good driver who understands the US roads well (certainly one who knows that they drive on the other side of the road over there). There should be plenty of candidates and the salary should be fair, but with serious incentives tied to SP performance.
Our focus right now, apart from whether NABI or Biota holders vote Yes or No, is to find a new CEO ASAP. I think Hunter Hall and East Hill must get together and drive this ASAP.
BTA Price at posting:
67.0¢ Sentiment: Hold Disclosure: Held
