Else Nutrition Holdings Inc T.BABY

My emails to Else management and Board

[majortom75]

I am sharing the content of my emails to Else management regarding the Instinet trades. I have not received any response yet.

4 March 2024

 

Ms. Hamutal Yitzhak

CEO, Co-Founder & Director

Else Nutrition Holdings Inc.

4 Raul Wallenberg Street

Tel Aviv, Israel

 

Dear Ms. Yitzhak,

 

I am writing you concerning the September 14, 2023 news release announcing the engagement by Else of Red Cloud Securities Inc. to provide "liquidity services" to the company. For the last few months, an unknown market participant trading via a brokerage account at "Instinet Canada Limited" has been selling small lots of Else shares at the bid price on the Toronto Stock Exchange every few minutes throughout the trading day. The pattern of trading is consistent with the algorithmic trading strategies made available to professional traders by Instinet Canada Limited. It is also consistent with Red Cloud Securities Inc.'s description of their "Market Liquidity Services."

 

Whilst the stated objective of the business relationship with Red Cloud Securities is to provide liquidity, increase trading volume, and reduce the bid/ask price spread of the Else Nutrition Holdings Inc shares (TSX:BABY), the trading activity observed by the unknown market actor is having an ancillary and altogether negative effect on the stock price. The constant slow trickle of shares being sold at the bid price is artificially suppressing the stock price.

 

I want to stress that I have no way of determining the identity of the account holder at Instinet Canada, and make no representation, implied or express, that Red Cloud Securities Inc. is the unknown market actor that is suppressing the Else stock price. As an Else Nutrition Holdings shareholder, I simply request that the senior management and board of the company endeavour to ensure that shareholder value is not being inadvertently eroded via the business relationship with Red Cloud Securities.

 

Sincerely,

 

Shareholder

Please refer to:

 

https://money.tmx.com/quote/BABY/trade-history

https://redcloudsecurities.com/services/market-liquidity-services/

https://www.instinet.com/trading-services#Trading_Services--Algorithmic_Trading

https://www.globenewswire.com/en/news-release/2023/09/14/2743699/0/en/Else-Nutrition-Announces-Engagement-of-Red-Cloud-Securities.html


===========================================

5 March 2024

 

Ms. Hamutal Yitzhak

CEO, Co-Founder & Director

Else Nutrition Holdings Inc.

4 Raul Wallenberg Street

Tel Aviv, Israel

 

Dear Ms. Yitzhak,

 

Pursuant to my email from yesterday, I have documented at least 5 occurrences where the Instinet account holder has dropped the Else Nutrition Inc. share price on the Toronto Stock Exchange (TSX:BABY). This unknown market participant has reduced the Else stock price by almost 10% this morning alone.

 

I demand that the management and board of Else Nutrition Holdings Inc. investigate and confirm whether Red Cloud Securities Inc. is the unknown Instinet account holder. If your investigations confirm that Red Cloud Securities Inc is the unknown Instinet account holder, I demand that Else Nutrition Holdings Inc order Red Cloud Securities Inc to cease ALL trading of Else Nutrition Holdings Inc stock on any stock exchange where it trades and further demand that Else terminate its business relationship with Red Cloud Securities Inc. effective immediately.

 

Please respond to this inquiry by 16:00 EST on Friday, March 8th, 2024 with an update on your findings.

 

Sincerely,

 

 

Shareholder

[luigidt]

I think they don't give a c$%P about the stock as long as they get funds from somewhere and keep going. at what point management will realize that someone is destroying their company?

[doggy123]

Thanks a lots majortom for caring for shareholders and posting youtr point of view ....make a lot of sense..............why would they do business with them is unreal and i still think it's Danone scopping every shares they can before a offer or a take over.........still say this ceo is incompetent and should step aside

[majortom75]

I'm going to have disagree on a few points. Firstly, I don't think it's Danone. With the access that Danone has in order to conduct their due diligence, they would be considered an insider and would therefore likely have to report any share purchases to regulators. I want to reiterate that while I have my suspicions, I make no representation as to the identity of the Instinet