Avid Bioservices Inc (CDMO)

[djohn]

Good thought but owning 51% of Peregrine stock would not change anything. The sad truth is BOD would remain the same, King would remain and direction would remain the same(IMO nowhere)

Nominating Committee Charter

The purpose of the Nominating Committee ("Committee") of the Board of Directors (the "Board") of Peregrine Pharmaceuticals, Inc., a Delaware corporation. ("Corporation") shall be to (i) make recommendations to the Board regarding the size of the Board, (ii) make recommendations to the Board regarding criteria for the selection of Director nominees, (iii) identify and recommend to the Board for selection as Director nominees individuals qualified to become members of the Board, and (iv) recommend committee assignments to the Board.


Committee Members
Chair David H. Pohl
Committee Member Carlton M Johnson
Committee Member Eric S. Swartz


Every year they nominate themselves and King
No one else!
They each get another year directing the company with 1 vote.


So 51% ownership is worthless you would need to own every share to gain control.

Sad But True