Jakobsohn’s Risky Path
THE JAKOBSOHN SCHEME: BAD MEDISON FOR KNIGHT
Meir Jakobsohn is not the proper leader for Knight:
- CEO of Medison Biotech (1995) which has seen declining profits since 2015
- Doesn’t understand Canada or the industry internationally
- In three years, has only attended three board meetings in person
- Pushing a high-risk strategy ripe with binary risk where Knight’s shareholders assume all the risk and where the benefit may be shared among Knight shareholders with Medison
- Has conflict of interest due to his controlling stake in Medison
Mr. Jakobsohn has nominated six nominees to stand for election. Essentially, he—a 7% shareholder—wants complete control of your board so that he can access Knight’s cash. These nominees have been recruited to implement a scheme that will be good for Mr. Jakobsohn, not you as a shareholder.
These six handpicked nominees have not only been recruited to implement this plan, but they also lack any experience starting and building credible pharmaceutical companies, as well as expertise in finance and Canadian capital markets.
Mr. Jakobsohn’s agenda for Knight is a discombobulated scheme that clearly illustrates that he does not grasp important aspects of our business, including complex regulatory issues, industry margins, and specialty pricing.
Mr. Jakobsohn’s plan just doesn’t make GUD sense and his nominees bring nothing to the table.
Primarily, Mr. Jakobsohn endorses a rest-of-the-world strategy – something we are already pursuing. But while we have a disciplined approach to secure licensing and strategic partnerships in Latin America, the Middle East and Africa, Mr. Jakobsohn wants a significant amount of our money to gamble on high risk early-stage biotech products. While Knight is not averse to early stage products, Knight will not make high risk or binary bets that put your money at risk and allow Medison to benefit from any upside on licencing agreements for Israel.
Mr. Jakobsohn wants to take Knight away from its original vision and is not what shareholders invested in. Adding any of Mr. Jakobsohn’s nominees to Knight’s board will derail the successful path we are on, destroy value, and is not in the best interests of Knight shareholders. It’s clear by his actions to date, that Mr. Jakobsohn’s only interests are his own interests.