Q: I noticed in the votes for directors the CEO did rather poorly compared to the other directors. There is generally a reason for these types of results. Perhaps you could let us know what is happening with the company and its management.
Thanks
Thanks
5i Research Answer:
With 16.6M votes withheld, one possible explanation is Mr. Hamed (14.7M shares) just did not vote for himself. The next largest non-insider shareholder only has 1.9M shares. He still got 78% of the votes though and nothing changes here. After a big run the stock is consolidating, but WELL continues to make small acquisitions and is on track for profitability this year. The CRH acquisition is proving naysayers wrong, and the Q1 was better than expected. Growth continues to look good and we continue to endorse the company.