No Downside Risk I stand by my statement. What the Shareholder Group is recommending ia the addition of 2 new board members who have in the past provided advisory services (free of charge) to Sernova. And they have helped raise financing. So they already know Sernova well. And the key players.
The Shareholder Group is recommending to reconduct 5 members of the current BoD to ensure a healthy level of continuity.
Sernova needs to evolve. And to help this next stage (i.e. start thinking and acting like a real company), they need fresh eyes and perspective.
considering the track record of the last three years and the indecent pay package proposwd in the management circular, there is no downside risk in voting as proposed by the Shareholder Group.
I will point out that the Group is recommending keeping Philip in his current roles. But I do expect them to hold him accountable to producing and executing a viable roadmap. That will create value for all shareholders. And provide legacy shareholders with an exit ramp. Which they clearly do not have right now.