Replies to post #306103 on Avid Bioservices Inc (CDMO)

[Protector]

exwannebe, So...aal candidate should past through that process. The charter explains how propositions should be made.

The Nomination Committee charter would be without use if it can be bypassed by as simple shareholders proposition. Such candidates would then NEVER be vetted because the charter says it is the committee, possibly with the help of an external specialised company, that must do this.

Furthermore the committee must based on that ADVISE the BoD.

So as I EXPLICITLY wrote here the shareholder proposition is as you said in time (between 15 Jun and 15 Aug).

The question remains WHY WOULD the Nomination Committee Charter (adopted 29th April 2004) and since mentioned in EVERY 10-K not be applicable to Ronin?

As you wrote yourself:

The second is not a deadline for nominating, it is a deadline for requesting the Nominating Committee consider your candidate as the "company" nominee.

SO yes, the 120 days becomes a dateline for the above action, one that needs to be done for the BoD to be advised by the Nomination Committee to accept or not accept Ronin's candidates.

And as a consequence not complying with the Charter implies that a NEGATIVE ADVISE may follow and that the BoD (that except for CEO King) is ALSO the NOMINATION COMMITTEE will advice itself as BoD members to NOT accept the Ronin shareholder proposition. And I would NOT be surprised if they then ABSTAIN themselves to vote at the BoD given a conflict of interest (because they were all 3 attacked publicly by Ronin in a Letter To Shareholders) and let CEO King decide the vote.

And since the Committee only gives an advice this would be a completely LEGAL approach to keep Ronin out because the 3 other BoD members would NOT have participated in the decision (the vote). AT the best they would have given a possibly tainted advice but CEO King could easily say that he expected that and did include that in his final decision.


IMO Ronin will not make it and knows it hence will probably start leaking his position down slowly (SPECULATION) in order not to harm himself to much (possible turn a profitable situation in a loss).

AIMO