Replies to post #306118 on Avid Bioservices Inc (CDMO)

[exwannabe]

They might merely say we find them not qualified based on Bavi comments, and therefore not in the best interest of our shareholders. They have that power unfortunately.

You also are confusing requests to the Nominating Committee to consider a candidate, and a shareholder nominating a candidate.

The Nominating Committee is responsible for the proxy cards that the company sends out. They will recommend shareholders vote for, well themselves obviously. That will be the "white" proxy card.

Ronin will be sending out his own proxy material, the "blue" proxy cards. These will recommend you vote with him.

The Nominating Committee has no say in Ronin's candidates.

[holotawoopas]

(IMO, Ronin will try to play nice from here, in an effort to get one seat on the board.)

Really jj!!! "play nice" LOL

We are NOT “activist” investors . We have not nominated our director candidates because it fulfills our investment strategy. Even 13D Monitor, a research service specializing in shareholder activism, recently noted that “ Neither Ronin Capital nor SW Investment (the “Group”) are activist investors… ” when commenting on our involvement with the Company. Instead, we are simply stockholders who saw a great opportunity to grow Peregrine over the long-run, but realized that change was desperately needed to address the Company’s troubling corporate governance practices and strategic miscues. We saw an excellent chance to create value for all stockholders and send a resounding message that poor corporate governance, mismanagement and anything less than the highest ethical standards will no longer be tolerated at Peregrine. We are here to provide a voice for frustrated stockholders and show that there is a light at the end of the tunnel for the Company’s customers and employees.

Facing the stark reality that their lengthy tenure of unjustifiably high compensation may be coming to an end, we caution the incumbent Board members against taking any action to further entrench themselves or otherwise to the detriment of the Company. Any attempts by the incumbents to delay the upcoming annual meeting, further enrich themselves or engage in a material transaction without stockholder approval will not be tolerated. We encourage you to let Mr. King and the other members of the Board know that you feel the same way.

We look forward to disrupting the culture of entrenchment and seeking the election of our highly-qualified independent candidates, Gregory P. Sargen, Brian W. Scanlan and Saiid Zarrabian, at the upcoming 2017 annual meeting of stockholders.


nuf sed