The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Who has voted already? In the end we, as shareholders have our duty to either support the Bod or not. If they have any ambitions for the future; I'm eagerly interested to know where they want the ship to go. Actually more than rather asking us to allow agreements in shares in future transactions. I'm not really happy by the current lack of action of this management.
They're really taking it down now. Soon be 99% down. Can you go -1% down.
Answers on a stamp.
Thx
Surely the BOD and majority shareholder are not still at loggerheads with each other?
The Company has to be allowed move on-nothing happening at the moment-I have voted for all Resolutions let's get this show on the road...
Anderson-let me know which way you are voting somehow and you will have my vote. I wrote to ORM about 4 months ago quoting a certain percentage of my stake. A nothing response just before the drop from 1.5s It's considerably higher now and a substantial stake.
Ordinary resolution requires 50% in favour
Unlike extraordinary resolutions (75%), so I would think a much better chance of passing resolution 4.
Will require votes though!
If they think they can outrule Mr. Andersen, I'm afraid they better look for another job....They should better get some decent future plan on the table. What do they do forwork now? Close to nothing I suspect.
BOD asking for shareholder votes to give them the power to make acquisition deals. Here's an extract from today's RNS....
"The Notice of AGM, Form of Proxy, Letter from the Chair and Guide to Accessing the AGM are also being posted to shareholders today and are all available on the Company's website.
Importance of shareholder votes
The Letter from the Chair contains some important background and explanatory notes in relation to the resolutions being proposed at the AGM. In particular, shareholders are being asked to approve a resolution to grant a general authority to the Directors to allot "relevant securities" ("Resolution 4"). This is a typical public company resolution sought annually which would provide the Directors with the ability to use the Company's shares as part or full consideration for a transaction, within the limitations of the Company's authorised share capital.
Ormonde's Board of Directors ("the Board") considers the passing of Resolution 4 as being critical to provide it with the minimum flexibility required to have a realistic opportunity to deliver a material acquisition as a platform to enhance the long term value of the Company. This same resolution was not passed at the last AGM, leading to the failure to complete one such transaction earlier in 2021 as, inter alia, Ormonde was unable to evidence its ability to conduct share issuances as part of the planned consideration. Accordingly, the Board wishes to emphasise the importance for all shareholders to vote in favour of this resolution, in a transaction landscape which has changed markedly in recent months in terms of financing opportunities for project owners given the increased capital now available to junior mining companies. In order for the Company to be at its most competitive to attract and compete in this M&A environment the Board is once again asking shareholders to approve this resolution.
Should Resolution 4 not be approved, the Board's ability to engage seriously with project vendors and complete such a deal would be severely limited.
The Directors believe that the proposals set out in each of the resolutions being put to the AGM are in the best interests of the Company and of shareholders as a whole and, accordingly, the Directors unanimously recommend that shareholders vote in favour of each of the resolutions.