RE:RE:RE:RE:RE:RE:Information Circular posted When I got the privilege to speak with his highness the CFO more than a year ago I did mention my concerns re the valuation at the time which was higher than the current valuation, his response was biotech is high risk high reward well why would he risk his own money when he gets rewarded anyway.
When you are working as a team the weak members will drag down the overall performance of the team that's why I don't think anyone should get bonuses even so one could argue some members deserve it because all members will have incentives to correct the weak members if no luck replace them.
Wino115 wrote: Frankly, it's atrocious how few shares the entire Board owns. Especailly given the huge dips over the last 2 years. As Canadapeit always complained, they really should be eating home cooking and be required to own a lot more than the tiny amount they do. Another huge difference between the VC backed startups where managers and boards are massively aligned with their shareholders and THTX and many other Canadian companies. It's just a different mentality. Dawn should up the number of required shares by 4x and given them 12 months to conform.
Wino115 wrote: Frame wasn't on the Board that long was she? No problem seeing Mr. Apple Tree head on out to the farm. He wasn't getting my votes anyway and neither is Littlejohn. Arena looks like a solid addition and someone who the company can actually lean on for experience and additional work for the company. Basically a retired pharma regulatory guy who does consulting so perfect for Paul to have as a useful colleague in the industry. Especially with his recent oncology stint.
Here's my case against Littlejohn. His banking background clearly didn't help and he's affiliated with NBF. He watched the share drop 80% yet he didn't buy ANY MORE SHARES IN THE COMPANY and has all of 20,000 shares! My teenager kid has that many. What a great committment he's shown to shareholders and aligning himself with us. Further, how could he not want to massively average down into those huge dips. I vote against him just on his lousy investment accumen of missing the shares 100% ago and not loading up and showing 100,000 shares at a minimum.
I also see zero value added in having Alain Trudeau on the Board -- he's just an accountant his whole career. That adds literally zero to the Board since you already pay a firm (likely his old firm) for whatever advice you need. When you need more global pharma, banking and shareholder oriented types on the Board, he's a complete waste of a seat. I'm canning him too. I can find someone better than that just driving around in a Walmart parking lot and picking up someone randomly. No offense Alain, but the picture says it all.....a boring accountant. You can't waste valuable seats on a yes-man like that with zero value added except he lives in Westmount and he's pals with someone.
That's my hit list for this voting. Find us a few more competent people to add in with value-added skills that push forward the firms strategies. We need to scare them and show shareholders do have power to get better people than both of them. They need to be shaken up and put up two better candidates for us.
SPCEO1 wrote: Iam not sure either I or Mr. Market thinks its a negative but given the situation post the OO. I believe the company wanted to draw as little attention as possible to the compensation numbers so they chose to file it on a Friday night when it would get the least attention. Had they filed it at Noon today, it would have garnered much more attention and comment here.
A quick look indicates the board got paid less and Dubuc's bonus was short of his potential while Marsolais was above his target. That all makes sense to me after a quick look.
qwerty22 wrote: You think it's negative or mr market thinks it's negative?
SPCEO1 wrote: It looks like Pommier and Frame are retiring. Arena is another Pfizer alum. Looks like we have some weekend reading.
No surprise they did a Friday night drop of this.
1998novl wrote: A new Board Member up for election, Joseph Arena.