Today we wrote to the Company Secretary of Praemium, Mr Paul...

Today we wrote to the Company Secretary of Praemium, Mr Paul Gutteridge, as shown below expressing our support of the former CEO.

Are there other supportive shareholders willing to write? His email is [email protected]

Dear Mr Gutteridge

We write as clients of and shareholders in Praemium Pty Ltd regarding the recent events as announced to the market.

As trustees of our Superannuation Fund we have had a longstanding relationship with the company, predating Mr Michael Ohanessian's appointment, being users of VWrap and more recently the SMA platform.

From our experience Mr. Ohanessian had a profound impact on the company. Unlike many company CEO's, he was always ready to listen to the client and did a tremendous job in turning the company around. His influence was evident on many levels including the morale of the staff, their dealings with the customer, significant platform enhancements and not least the share price.

Needless to say we were stunned to read the announcement that he had been terminated. As you know, such instant departures of key personnel shock and imply, rightly or wrongly, that something untoward happened.

We were relieved to read the subsequent announcement that requested a shareholders meeting to approve removing the existing board. The proposal appears to have significant support judging by the substantial holders involved and the subsequent share price action. As retail investors we also wish to support the proposal.

In short, we have been appalled by what appears to have gone on. In our view, the way the board behaved showed little regard for shareholders and, moreover, was horribly disrespectful to Mr. Michael Ohanessian.

To us, the lack of transparency and autocratic behavior smacks of self interest.

Please take note that we will support Mr. Ohanessian and his team and hope that this unfortunate state of affairs is dealt with as soon as possible.

Your sincerely