Get delisted, and shareholders get nothing? I guess so, I fear.
But do we in fact know that SLA are still remunerating their directors? I can't see that SLA has got its act together to present any accounts to ASX since the end of 2011!
Their website has made an interesting change since I previously looked.
"Dr Ian Nisbet Non-Executive Director and Chairman Designate
Dr Nisbet joined the Solagran Board in October 2014 and has over 30 years of drug development, business development and management experience at executive and director/Chair level in the Australian and international biotechnology sector. Dr Nisbet currently serves as Chairman or non-executive director for several Australian biotech firms and has Australian and international CEO and senior management experience. He also has a part-time role as Deputy Director (Commercialisation) at the Australian Institute for Bioengineering and Nanotechnology (AIBN) at the University of Queensland. Subject to the achievement of certain milestones by the company, Dr Nisbet will assume the role of Chairman."
That last sentence is of particular interest. I must say I find it difficult to believe that Dr Soultanov could bring himself to give up the role of Chairman, but if he does that might save the day for SLA shareholders. Wide experience in how to make money is what has been missing at the top of SLA.
SLA Price at posting:
3.9¢ Sentiment: None Disclosure: Not Held
