eSense Lab directors quit weeks after winning bruising boardroom fight
Health & Biotech
Link copied to
Two of the key eSense Lab directors who led a boardroom coup against the company’s Australian advisors have quit.
eSense (ASX:ESE) is a “life sciences” play trying to reverse-engineer high-value compounds from plants such as cannabis in a cost effective and sustainable way.
A lengthy fight for control of the pot stock reached a conclusion last month.
Four Israel-based directors won control of the company, beating the four Australian and Israeli contenders by a margin of 20 million votes.
Now two of the directors who led the coup, Ilan Saad and Eran Gilboa, have resigned “to focus on their other business interests”.
Mr Saad took over as chairman after Australia-based director Brendan de Kauwe was pushed out.
Three Israeli shareholders alongside Mr de Kauwe and his employer Otsana Capital, eSense’s (ASX:ESE) now ex-corporate advisor, tried to kick Mr Saad, Mr Gilboa and CEO Haim Cohen off the board.
Otsana also employed Mr Gilboa at the time.
“As the company continues with its research and development initiatives and makes the transition to commercialisation, the board’s view is that the reduced board size will not adversely impact on the Company in the short term,” the remnants of eSense’s board told the market.