Avid Bioservices Inc (CDMO)

[Protector]

UPDATE on PPHM BoD Member Candidates

The PPHM Charter adoped on 29th April 2004 is indeed a BINDING document to shareholders because it has been included in the Annual Meeting(s) of shareholders and is therefore a document that is PUBLICLY available and explains what shareholders MUST DO upfront if they think about proposing BoD member(s) for the NEXT Annual Meeting.

It became only binding on the FIRST Annual Meeting AFTER 29th April 2004 (which was in JUL that same year 2004) and therefor did only APPLY for BoD Member propositions for the following FY (the annual meeting of 2005).

The document has, and still is, referred to by PPHM in EACH and EVERY annual meeting and is continuously available to all on their web-site in the Nomination Committee section.

SO unless Ronin did file, more then anecdotal, to the Nomination Committee (before April 3th 2017) and we wouldn't know about it (the committee apparently is held to some discretion), then NO VALID BoD candidates can be placed on the ticket and all this is a BIG SHOW because I CANNOT POSSIBLY IMAGINE that the party that wants to take control over PPHM didn't do sufficient D&D to know how they had to file?

But IF they filed it ALSO means PPHM KNEW what Ronin was up to at the latest on April 3th 2017.

It would however allow Mr White to say that they filed in time for the shareholders proposition (which is correct) not adding they already KNOW they will not be on the ticket for a completely OTHER reason, namely that their candidates couldn't be vetted by the BoD according the Charter regulations fr Nominations. While that would not be lying at find that given the Ronin/SW ambitions they might at least be complete.

And we NEED to hear it from Ronin officially because if PPHM private mail or public annual meeting statement are anecdotal at the best than all such private Ronin/SW info by phone is TOO.

And one liner claim such as "Wrong facts and misinformation again as expected." without any comment on WHY the facts are wrong or misleading will change NOTHING. Mostly such explanation end up in a twist or deformation of what has been said.