Dr Errington has resigned from the BOTA Board.
He's been replaced by a local (to Georgia) medical venture capitalist, Dr. John Richard, who's been nominated as independent.
The Board changes are interesting, but opaque to outsiders. It might have been reasonable to presume that Dr. Errington was East Hill's
representative on the Board. Why East Hill would let that position lapse
hard to understand, given their ongoing stake.
It's a little hard to see how a seed venture capital company will help with Biota's "liquidity" problems, but this will be revealed soon enough.
Many of you have already mentioned to me privately, and at the Melbourne shareholders' update, that the best option for improving liquidity is to create a healthy demand for the stock. In that case, more buyers from the US and more sellers (some from Australia) will meet each other.
The AGM will be in November, but the release date of the 2013 results is not yet clear.
I think we are seeing the right kinds of moves at Biota. To me it doesnt look like they are messing around. Tangible developments, concentration on best in class product. Not really much more we can ask at this stage. Hold on.
ReplyDeleteGeorge
DeleteHolding on. And on!