Avid Bioservices Inc (CDMO)

[Protector]

Voting for or against?

Just think about the following. They need those shares/option plans to drive their business, for incentive packages, to be able to get new people, etc.

They need them because Peregrine employees and new employes will all be very aware of what great times are in front of them and giving them options is the best incentive.

If we vote against that then we are taking away some of the means, an instrument, for them to run the business. Furthermore we take away the one thing that we would have in common with them: wanting a higher share price.

I can understand the feelings and the reasoning of using the vote, as only handle we have on Management, but voting against it is firing a torpedo on our own ship.

Doesn't look like the smartest thing to do but then again everyone is entitled to hurt himself in order to get a momentum of satisfaction followed by good self engineered price drop.

Gentlement, you will not force Managements hand with voting against their advise. If they decided not to communicate they will not communicate. We should thank them to have the character not to communicate. In their place I would be eager to be able to explain myself and would not like the idea not to be able or be allowed to communicate for legal or strategic reasons. And that will very probably be exactly the same with them.