AGM4 Jun 2023 23:02
From the AGM notice:
"Shareholders may access the AGM remotely, follow the business of the AGM, and subsequently view a shareholder update by Company management by webcast via a video conference call." - so looks like there will be a more complete presentation "shareholder update" on pipeline progress at the AGM.
Three directors (PR, AS, VS) are retiring by rotation - putting themselves forward for re-election. I'd like to have some justification as to why the board recommends the re-appointment of PR and AS. What do they bring in their role - financing has not gone well and been costly, and the other brings a significant conflict and could input as a significant shareholder? Any ideas how we get that justification - when imo it isn't apparent in the outcomes of the past few years?
Also, anyone any thoughts on why Resolution 10 - shortening the notice required for calling an EGM from 21 days to just 14 days - might have been included this time (and not previously or at the outset). This seems to just impose restriction on shareholders - any significant events requiring shareholder approval ought to be known well in advance that the normal notice could be given to allow due consideration. HEMO seems to have very few institutional shareholders - I could perhaps understand it if there were few shareholders such as a private VC company, but even then corporate would need time to consider transactions and unlikely to agree to this reduction. I have copied the wording of the resolution below - it requires a 75% majority (presumably of those votes cast at the meeting). The M&A's were amended not that long ago and this was change was missed - who's job?
"RESOLUTION 10 – NOTICE OF MEETINGS OTHER THAN ANNUAL GENERAL MEETINGS
The Directors wish to obtain the flexibility and benefit from the ability to call general meetings on 14 clear days’ notice and this Resolution, which is proposed as a special resolution, seeks authority from Shareholders for this flexibility. Such approval will not affect annual general meetings, which will continue to be held on at least 21 clear days’ notice. In the event that this authority is to be exercised, the Directors will ensure that it is not used as a matter of routine, but only where the flexibility is merited by the business of the meeting and is thought to be to the advantage of Shareholders as a whole. The Company intends to meet the requirements for a means of electronic voting to be made available to all Shareholders before calling a meeting on 14 clear days’ notice. The approval will be effective until the Company’s next annual general meeting, when it is intended that a similar resolution will be proposed."
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