Hey Hittman & Stewar1t
Whilst agreeing mostly with both of your posts, there's a little more to add.
Whilst institutions are heavily relied on to fill CR's, It's only been retail shareholders protests that have even had them considered in the raisings. Last year because of the backlash of the previous, holders were given a capped allotment. The institutions involved simply bought up tens of millions with no scrutiny or consensus by shareholders.
Should holders not contribute towards a CR, I don't see them as being a non contributor. When purchasing shares they provided demand for the stock which inflates the SP. They can only create so many new shares each year based on a % of the existing holding. That demand provides an increase price for that % created for ongoing capital.
One thing I think holders need to accept (for mine) is that there will be a CR each and every year, until IMU goes post revenue. Why- Simply because they can and Ph doesn't give a flying continental what any shareholder thinks, as he's a protected species for now. I mentioned earlier in the week, whilst PH holds 422m shares plus has the support from the institutions and other Board Members votes as large holders, he's going nowhere !
Couple this with 60% of holders not voting or doing proxy's, it's no wonder he only shows up to AGM's when he feels' like it.
The only way holders can see him removed, is showing up in numbers never seen, or sending in proxy's. There would also need to be a divided board, before showing him the door.
So unless holders can combine to pull this off, there's little point of getting constantly annoyed by him.
We've all seen what a personality and passionate advocate LC and a few others' are in IMU's management. Keep chipping away with them, as at least they're partially responsive to holder's concerns.
The aforementioned CR will happen without notice this year, with all aspects already decided by the board. what gives me the willies NOW, is that news much awaited and afforded for news- hasn't landed. despite all the hype from LC. I want to see it "VERY SOON". Should it not be available to them, then let us have an idea as to when it will be.
I mean who do us shareholders think we are, we're going on like we own the joint !!
Management needs to wake up, whilst we've still got all the science going for us- Or have we ?
-GO IMU!
Not Financial Advice - Opinions Only - DYOR!
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