Lyin’ Steve O’Hara of Optibiotix caught lying yet again, this is getting boring: AGM Strategy and beyond

When I first threatened to call an EGM to replace a number if not all of the directors of Optibiotix (OPTI) but certainly Neil Davidson and the gimp NED Sean Christie, Lyin’ Steve O Hara begged me not to bother as “all the directors will be up for re-election at the AGM”. I thought this unlikely but could not believe that even Lyin’ Steve would tell such a barefaced lie so maybe what sits in my notes was true. Well guess what?

A man who can lie about taking a 20% pay cut and frankly about so much else including at what price he would sell Skinbiotherapeutics (SBTX) shares was lying again. The Resolutions for the August 6 AGM are now in and reads:

1 TO RECEIVE THE COMPANY'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31DECEMBER 2024 (A response to this proposal is mandatory)
Board Recommendation: For

2 TO ELECT DAVID BLAIN AS A DIRECTOR (A response to this proposal is mandatory)
Board Recommendation: For

3. TO RE APPOINT GERALD EDELMAN LLP AS AUDITORS OF THE COMPANY AND TO AUTHORISE THE DIRECTORS TO DETERMINE THEIR REMUNERATION (A response to this proposal is mandatory)
Board Recommendation: For

4. THAT THE DIRECTORS BE AUTHORISE TO ALLOT SHARES IN THE COMPANY PURSUANT TO SECTION 551 OF THE COMPANIES ACT 2006 (A response to this proposal is mandatory)
Board Recommendation: For

5 SUBJECT TO PASSING RESOLUTION 4THE DIRECTORS ARE GENERALLY EMPOWERED PURSUANT TO SECTION 570OF THE ACT TO ALLOT EQUITY SECURITIES FOR CASH (A response to this proposal is mandatory)
Board Recommendation: For

Ends.

I think the Auditors should be sacked for signing off on annual accounts containing a blatant lie ( the O’Hara 20% pay cut) and I do not want the directors to be able to keep issuing shares as an alternative to curbing costs. And so I will attend the AGM on 6 August and vote FOR resolution 1 and AGAINST Resolutions 2, 3, 4 & 5.
It may be possible for some of you to vote electronically and if so I urge you to vote in the same way as I do. Vote early, vote often, vote to save our company!

But that may not be possible. So I would ask that if any shareholders holding even a handful of shares can be at the offices of Walbrook PR at 12 Noon on 6 August with all the requisite paperwork, passport, etc they should be so that we win a show if hands on resolutions 2-5.

Most of you have better things to do with your lives and thus I urge most of you to appoint me as your proxy so I can vote for you. An expert writes on that:

“It seems that you have a lot of smaller shareholder support and so the best way is to ask the shareholders to have the nominee Co's insert you ( Mr TJZ Winnifrith) as their Proxy and also that the shareholder ask for a copy of the Proxy form in this capacity sending to you for proof.
You will need to turn up and request a poll - in some instances the Mems & Arts ask for a minimum no of peeps to request too that could be as low as 2 or 5 people so best to have some pals come along. If the poll vote trumps the electronic voting they must carry that vote.”
We will be lobbying a number of City folks who hold 1-5% and I believe that we can win. But I need every private investor to back me here. So this article is free to view. And II urge you to share the link far and wide so we can reach a wider audience and try to get the company back on the road to success..

IF we win at the AGM then we will demand an EGM. In fact, am discussing with collaborators tonight the idea of calling one imminently so it would take place shortly after the AGM. And at that EGM we would be seeking the removal of Davidson, the gimp ands Steve O’Hara from the board and their replacement with 2 directors one of whom is my wife, both of whom are qualified, honest and cheap.. You simply cannot have a CEO who is now shown to be a serial liar.

If we have won the AGM votes, O’Hara will know his goose is cooked and might reach out to secure a comprise deal that sees his title and basic package retained but his responsibilities restricted to general management and sales.

The new directors would handle corporate communication, regulatory matters & governance and cost control. If O’Hara wants to fight on, my proposed chairman does have a replacement CEO with a track record of success in this industry ready and waiting. O’Hara is not indispensable whatever he thinks.

I do not want to be wasting my life doing this but it is now needed not only to protect my own investment but also because the lies and corporate governance are now so monstrous that the moral thing to do is to purge