If I trusted the Directors I would recommend this company as a good buy at these prices. But how can you?
How can a group of professional leaders turn longstanding shareholders, who are loyal and believe in the business, into a group of unhappy, cynical people. I have not heard one positive comment about these Directors and I challenge anyone to step up and support them.
It's not the share price going south that is the problem - it is their duplicity and their behaviour that is the problem. They talk rhetoric - the worse it gets the more they talk it up - they revise their targets - nothing inherently wrong with that, but they don't tell shareholders and never explain why they failed to achieve the original targets.
The tide has gone out and these guys have been caught swimming naked. Time to behave like professionals and communicate truthfully with shareholders.
Only then can we all row in the same direction. It may be best if they stepped aside and entrusted the responsibility to someone who knows how to build a business and communicate truthfully.
JGL Price at posting:
10.5¢ Sentiment: None Disclosure: Held