Aug. 18 at 11:47 AM
$AVXL
Investor2014 Free 36 minutes ago
Post #520,573
Re: #520,571: @sab63090 - Dr Jan
The current and the opportunistic proxy interference BOD play is imo about how to get some of that
$100M pot in their own pockets - that's about it, scalp and run.
PVG and Patrick Adams are trying to replace the entire six-member board, despite collectively owning only 327,344 Anavex shares, approximately 0.35% of the company.
They are seeking effective control without buying anything resembling a controlling economic stake. The majority of their proposed directors come from:
asset management
investment banking/equity research
capital markets
restructuring
corporate finance
rather than CNS drug development.
PVG's preliminary proxy is strikingly thin on what they would actually do with Anavex once they control it. Their document spends considerable effort attacking the existing board but does not set out a detailed clinical, regulatory or capital-allocation strategy.
CONTINUED
