THE last of the old regime at Biosignal has been swept away, with the company announcing the departure of company secretary and chief financial officer Robert Vickery.
Vickery joined Biosignal in 2006, and joins Bruce Foy, Professor Peter Steinberg and Dr John Keniry as a recent casualty of the effective takeover of the struggling biotech company by Empire Investments, a company BTN understands is associated with former PharmAust managing director Dr Paul D’Sylva.
BTN understands that the conduct of the current Empire-linked directors is the subject of a complaint to the Australian Securities & Investments Commission lodged by Keniry and Steinberg.
It is alleged that the directors appointed Empire as an “exclusive corporate adviser”, giving the shadowy company significant control of Biosignal’s affairs, despite controlling less than 10% of the company.
The complaint said the directors’ decision to appoint Empire was “not in the best interests of the shareholders of the company other than Empire”.
Vickery will be replaced as company secretary by Tim Morrison.
BOS Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
