Just visited the save Bioniche sight and have a few comments.
1. GW bought shares a year ago last spring and obviously saw value.
2. GW approaches BNC last summer to buy AH and gets turned down after getting inside information.
3. After the confidential agreement runs out, GW buys 5% of the shares and becomes hostile to BNC..............
We became shareholders of Bioniche in the spring of last year, prior to any contact or discussion with the company.
We have continued to add to our position at various times and prices, however never when we were in possession of any material undisclosed information about the company. We have presented sworn affidavits to the court confirming this.
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As part of our agreement with Bioniche we were prevented from exceeding a 5% ownership position in the company until early April of this year. Only once that agreement expired, did we exceed 5%. We have never sold shares in Bioniche, only acquired them.
5.Obviously GW really, really, really likes our little company. I didn't know our AH was so valuable. This just happens to be when we re-aquired Urocidin.
6.What if GW wants Urocidin and has no interest in AH. This would be a brilliant move to steal it............
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Bioniche never provided the Concerned Shareholders with sufficient information to value the business and make an offer. So no actual offer was ever made. Nor did Bioniche propose any alternative structure although we indicated our flexibility to alternatives.
Now it seems to me that if someone was interested in buying AH that BNC would provide interested parties with that information after signing a confidential agreement.
Maybe it was Urocidin information that was lacking.
Something smells fishy here.
Wussy