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Concerned Shareholders of Sernova Corp. Nominate Two Highly Qualified Directors to the Board
Concerned Shareholders of Sernova Corp. Nominate Two Highly Qualified Directors to the Board ...
About this update from Sernova Biotherapeutics Inc
[{"type":"text","content":"\n \n \n \n Concerned Shareholders of Sernova Corp. Nominate Two Highly Qualified Directors to the Board\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Concerned shareholder group has issued an information circular and letter to shareholders outlining reasons for change\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 3, 2023\n \n \n /CNW/ - A group of longstanding shareholders of Sernova Corp (TSX:SVA) (OTCQB:SEOVF) (FSE/XETRA:PSH) (\"Sernova\" or the \"Company\") who currently own approximately 12% of the Company's shares have concerns regarding the performance of Sernova's Board (the \"Concerned Shareholders\").\n \n Sernova's Board needs new voices. They are nominating two highly qualified individuals to bring independent shareholder representation to the Board\n \n and to address some significant issues that have impeded the Company's ability to unlock Sernova's true value.\n \n \n The two nominees are fellow shareholders, Dr.\n \n Steven Sangha\n \n , a private fund family office investor, and Mr.\n \n Bertram von Plettenberg\n \n , a management and financial consultant and investor.\n \n \n \n Eroding Value\n \n \n \n Sernova's Current Board has complacently overseen a period of eroding shareholder value. Over the last two years, Sernova's share price has been on a downward trend. In stark terms, there has been a significant erosion in market value and shareholder value since\n \n May 2022\n \n , with over an\n \n approximate 40% decline\n \n in share price at the time of writing this release (to approximately\n \n $0.88\n \n ). This is contrary to what analyst reports were anticipating (approximately\n \n $3.00\n \n by end of 2022). Sernova's Current Board has failed to prepare and execute a plan to improve Sernova's performance and increase shareholder returns.\n \n \n \n Slow Progress\n \n \n \n The Current Board's tenure has been marked by slow progress on clinical trials and missed timelines. This sluggish progress includes trials for applications other than diabetes.  This in...