“Directors duties to shareholders - do they even exist ? A...

“Directors duties to shareholders - do they even exist ? A fiduciary duty owed by directors to the shareholders where there are negotiations for a take-over or an acquisition of the company’s undertaking would require the directors to loyally promote the joint interests of all shareholders. A conflict could only arise if they sought to prefer their personal interests to the joint interest. That is the very conduct which would be proscribed by the duty.” Extract from an article by ERA Legal.

Is that correct @Chuckybee?

Tony said no negotiations for positions or monetary gain for BOD had been entered into with Pfizer. Just a play on words. Doesn’t mean Pfizer hasn’t offered them some reward or future positions with Pfizer for selling off the company. I don’t believe it’s a smart action by the board for publicity or a measly 4mill. That is not going to stop a CR , as last quarter s revenue was not very inspiring. Of course revenue is improving but , as we all know, doesn’t happen overnight.

It’s a reckless and selfish move by the board, and by no means could they have ever been sure how shareholders will vote. Shareholders have been constantly uninformed. It has been very difficult to squeeze any information out of company management, ever. The reason Tony has used for this lack of information has been “ that we don’t want to give our competitors any knowledge they may use to develop similar products.” Really? Tony blamed shareholders for the share price going nowhere while the company has given little reason or motivation to “buy up”. He also stated that the SP wouldn’t rise unless some big funds came on board. He also said , that covid won’t be around for longer than 2 years. Let’s ask the epidemiologists about that and trust the science , not Tony. All those current statements contradict everything he has been telling shareholders up to now. These statements are mandatory and go with the TO? . Why would you show a complete lack of integrity to shareholders if you didn’t want the TO to go forward, and would want shareholders to support your direction of the company in the future.

They have taken the first miserable TO, from a large American pharmaceutical company .What is going to happen to the dx product? It hasn’t been talked about at all. Maybe it will be in the fabulous scheme booklet. I can’t wait. Will they bury it for the time being ? We have no idea what they will do. Pfizers interest in the company has never been obvious before the covid trials. But I guess shareholders have no clue what is really going on .Will they make the dx product available to the third world for free or at a low cost , as originally promised to Bill and Melinda Gates Foundation, or is that just silly nonsense from the past.

Pfizer s profit is greater than 80 billion per annum. There is such an entity known as the “ Pfizer Foundation” which seems to be the main charitable arm of the company. But it is a separate legal entity and as such has separate legal restrictions. The information about what they actually do is very broad and full of sweeping statements.

As Mrs Slipper says, the sp was trying to take off after the truly fantastic results of the covid trials, but the movement of the sp was constantly knocked on the head. It was very obvious. We can now see why.

I know business is about monetary gain only, that’s why we invest on the markets. But if investing in RAP was purely about money , we would have all given up and sold years ago. Poor performance, very little or silly advertising, and lack of uptake of the products have driven funds and large investors away. But for many of us still here, it’s the belief that the product could benefit the world in many ways. We have believed that innovation in the medical space is badly needed and the vision for RAP in the future has actually created a large group of loyal followers willing to wait, and wait and…wait. We are probably the largest group to constantly remain loyal to a company with abysmal performance ,on HC . In the past some amazing research has been made available to us, through HC ,by some very informed posters.

Let’s not give away another Australian product, company, land , seaport, medical innovation, dairy company ,energy company or cattle and sheep station to offshore interests.

All in my humble opinion only. Just the ramblings on a rainy Saturday morning of an angry shareholder. I have sold a lot of Rap in the past but nothing will make me sell the rest voluntarily in the future. Please excuse my ramblings, happy to be proven wrong.

If I get a phone call , they will probably hang up on me.

The Cosmo