gottahunch wrote: Wolfpack,
On Oct 16
th a bunch of us sent an email to our independent chair member who is also a CIBC employee Renah Persofsky and copied in the CIBC ombudsmen as well as the regulators to ask them to look into the research analyst report along with the short (and potentially naked short) selling. On Oct 18
th, Rehah bought more shares of Aphria. I do think it’s unlikely it’s a coincidence and that she could be potentially sending a message that she believes in the company. It’s not about the dollar value she is putting in, an insider buy is always seen as positive. It’s now time for the others to step up to the plate. Perhaps we should all consider sending an email to Aphria IR. Here is a proposed draft for consideration. If anyone has edits, pls feel free to do so and perhaps we send a final by the end of the day. This email only has an impact if many of us agree to send it.
Email to Aphria IR:
Investors@aphria.com Subject: Protecting shareholder value
Dear Aphria,
While we recently reported another great quarter, based on the analyst coverage and market reaction, the investment community is still not understanding our future potential as a result our share price is priced at a significant discount.
Many investors have raised concerns to CIBC about their research coverage and their short selling to CIBC employee/Aphria independent board member Renah Persofsky last week. It was great to see reporting on Canadian Insider that Renah has recently purchased more shares. The clearest message that can be sent to the investment community about the company’s prospects, is an acquisition of shares in the public market by an insider.
Many of us believe that Aphria management needs to do more to convince the market about our potential and protect shareholder value as obviously the quarterly results and guidance are not enough at this point. We closed at $6.21 Canadian yesterday and at this price we could easily be subject to a hostile takeover at this significantly discounted price. Many of us would like to see more insiders acquire shares on the open market to send a clear message that Aphria’s business is strong and the share price is set to rise. In absence of any other significant news such as a joint venture, equity, or massive supply deal, this may be the only way to communicate such strength in the business and belief in the company. While Carl spoke of the potential of multiple JV’s at the AMA, many of us recognize that these things may take time and in the interim our shareholder value has deteriorated.
You may receive this email from several other significant shareholders who want to ensure our concerns are being heard and addressed.
Sincerely,