The virtual annual meeting will be a waste of time because shareholders will learn nothing new. The whole point of in-person annual meetings is to give shareholders an opportunity to speak directly with management and directors (though in Anavex’s case most directors don’t show up anyway) in order to gain a deeper understanding of management’s thinking and strategy. I don’t know why Missling decided to make this a virtual meeting (perhaps he is out of town) but I suspect he simply is not comfortable speaking with actual shareholders for fear of putting his foot in his mouth. Perhaps his lawyers advised him to go virtual knowing he is a loose cannon who cannot be trusted to respond appropriately to shareholders’ questions. What I’m waiting to see is whether Missling will open the call to all shareholders who wish to ask questions. I’m guessing he’ll treat this just like the quarterly calls and shut everybody out, but we’ll see. Either way, it’s extremely disappointing.
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