IPD - ASX Announcements

Forum Topics IPD IPD ASX Announcements

Pinned straw:

Added 9 months ago

Does anyone have any thoughts on the announcements from IPD?

31/7/23 ASX announcement by IPD

“On behalf of Acadia Park Pty Ltd (AP), regarding the intention of AP, with the support of a small handful of private investors, to move resolutions for the removal of four directors of the Company, being Mr Donald Williams, Mr Amit Patel, Mr David Anderson and Mr Daniel Sharp.”

1/8/2023 ASX announcement by Acadia Park

Significant shareholder announcement 8%, (I count around 20 shareholders to get to the 8% holding)

So, they are disgruntled with the board, but why? Past board/company performance, inappropriate cap raise, undisclosed take-over offer, I have no idea. I do know that boardroom conflicts make me nervous

Any comments?

Slew

8 months ago

Investor call re: board spill

During the call, nothing new was mentioned that wasn’t already covered in yesterday’s multiple announcements. The presentations followed a script and the questions didn’t reveal anything new. The only noteworthy point was Rick mentioning that the disruption is affecting staff morale and that recruitment for several key positions (CMO & CCO) are "2nd guessing" the opportunity. He mentioned the impact on the team and morale several times.

Don and Rick both emphasized the need to capitalize on the opportunity to finally make gains with the Sozo product, due to changes in NCCN guidelines and insurers quickly coming on board.

Next week, Don and Rick will be in Australia talking to larger shareholders, there is no indication of how institutions will vote on the resolutions.

Metis

9 months ago

Yeah initially I wasn’t very happy with the timing. The thought process from my understanding was there were some people who weren’t happy with the capital raise. Without naming who they wanted as replacements I thought it was petty. However with the announcement this morning new light is shed. I’m sure some people would have more understanding of the people who are gunning for the job.

They are nanosonics grant McGregor and Christine Emmanuel Donnelly from polynovo a non executive director. the other two I’m not as sure about. asx announcement below.

.Ipd.pdf