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Did anyone attend the meeting, if so would be grateful for any snippets.
Some glimmer of hope, let’s see if Armstice take steps to sideline DP quickly.
They need to issue a holding statement to satisfy/clarify AIM protocol I would have thought!
4d was suspended on 24 June, therefore they need to issue a statement by 24th December the latest regarding its position to remain or not on AIM.
Would vote against, but shareholders don't have a say. It's been very cleverly engineered by OF and who ever they are working with.
In the same boat , downloaded 4d pharma on the telegram but no further no activity showing, would appreciate a detailed path to the action group.
Thanks- Bruce for updating on the Agm results
Anything on which resolutions passed etc.
When were the conditions breached? If it was before the year-end report shouldn't the auditors have picked this up and alerted to the added risk? What is the Financial Director and other board members paid for, don't they have a fiduciary duty to the shareholders?
Sang-if your writing a book it would be good to identify Masterblast and interview him- hate to admit it he/she has hinting at this situation all along, how stupid of us to have dismissed it. This looks to have been planned to take it to administration .
Sang- you were insistent that the $12.5m drawn dawn wasn't usable in it's entirety and $7.5m had to be put in an account until further amounts were raised, if that were to be the case then it wouldn't be $13.86m to payback. I asked that question at the Q&A but along with other questions didn't get a response. I think this looks like a trap planned by OF right from the start.
From Magmanus's point of view, indeed 'management is second to none ' it's given all the newbies tremendous entry point.
Still in, not sold any. Not happy about the shoddy performance by the Bod- holding to vote against the remuneration and resolution 8and 9.
Sang- rather than go in circles, it is best to ask them if they have deposited $7.5m of the $12.5m drawdawn as you suggest. Since you don't wish to clarify with the bod, I will ask them and see how they respond. Only a few more days to get a final clarification on this matter.
Do you agree that they have or are able to draw down $12.5m and a further $7m and $10m tranches subject to achieving certain milestones, as reported in the final results- so adequately funded to the end of the year. If not ask them?
I was under the impression you had bought 1 share in order to ask questions at the AGM, here is your opportunity to ask this and question in relation to Oxford Finance (alleged amount that cannot be drawn). go on ask all the questions you want Sang.
MHB- great set of questions, thanks. an additional remark, if it could be incorporated with your questions is if the bod would consider being remunerated in shares(50%) instead of cash at this particular juncture in the company's development stage. I would also suggest that someone co-ordinate one list of questions as Michael has circulated and monitor if the questions have been answered, if they haven't then everyone can follow up and repeat those to Duncan until a satisfactory response recieved.
The onus is on the BoD to justify their need to have authority for 100% increase in shares of the co. and also for shareholders to wave their pre-emption rights. I am not willing to give a carte blanche authority without any strategy for the sustainable future progress of the company- similarly there is no justification for increases in salaries of the bod at this particular stage of the company's development. for these reasons I have voted against those relevant resolutions.