RE: EGM14 Sep 2018 12:53
The.Italian,
I understand your reservations, however. The chances of changing any management is pretty negligible given how many votes are required. What it could do is allow for more clarity, which surely you must be aware is needed when one considers how long the so called "at an advanced stage has been used". The fact that it was stated by word of mouth and reported and also announced that they were at heads or terms (LOI) surely needs clarification. We should be advised that parties have walked away or that the heads of terms agreements have expired (they usually have some time limit set on them). To just state they have effectively gone back to being at an advanced stage without any reason, is not good enough. For all we know, they may have had to go out touting for new licensees ?
Just for yours and everybody here"s information, I met JG in June 2016 and during the closed meeting, I suggested that since the 6 dose cannister had failed and there was only a 12 dose cannister, the license agreement with Recordati would need to be revisited and changed. JG agreed that was the case and in fact was to have a meeting with Recordati in the Sept, yet knowing this he still continued to allude that the 6mill milestone payment was due, which we know was just a white elephant. Even when asked by other share holders by email and posted here regarding where the 6mill was, his response was one of evasion.
Do you remember how long after my meeting with JG it took for an announcement to be made to the market that the license agreement would need to be revisited, no figures given just that it needed revisiting due to the can size change? It was in the 28th Feb 2017 Operational update, 9 months after I spoke with him and 5 months after the meeting with Recordati. (it was not even in the summary of the announcement, but at the bottom of page 3 of 4). Why else did they launch the 20 dose cannister in the UK and not the 12. it was because they had not agreed a price point with Recordati, which several posters on here who have better knowledge than me with respect to these things thought it was all tosh.
Surely an advisory announcement to the market should have been made long before then since it was pretty clear that the then current agreement had nothing in it regarding a change in can size. (if there was, JG would not have agreed with me that the numbers needed revisiting. Note that later the new agreement launch numbers were butchered by Recordati since they knowingly had the upper hand.
I use the above as an example of the so called previous statements to other shareholders regarding full transparency. As people often say, this is just business and we are just trying to look after our own interests the same way management are looking after theirs.
Anyway, as written, we are probably only looking for better communication after all these years and now the product is out there. Surely we deserve this ?
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