Time for a run, page-7

I like this company and its potential, and been in it for a while.

The cap raising at 9c seems to have held it back. Recent announcements were worthy of a rerate but there was a relentless seller at 9c (flipping his new shares?) until recently. He has gone now and you can see the demand for the stock starting to push it North now.

A concern for me though is the number of recent departures, and the result that it seems like it has become the Robin Ormerod show. He stepped in to the MD role when White left as CEO. The Chairman left soon after. As an observation, the company emails I get are no longer from "Pacific Environment Limited", would you believe they are from "Robin Ormerod". That just seems weird, for the founder of 20 years ago to still be having this grip on the company. It does not seem like good succession planning and constricts scalability and growth.

I think this might be one reason that the company is so poorly rated by the market compared with its fundamentals. Strong companies have strong boards with lots of experience from multiple facets (technical, legal, marketing/sales, technology, etc..) and the PEH board is weak in this regard. It is basically Robin (again!), a professional chairman and a company secretary. If they appointed a serious board (instead of being the founder's hobby horse) this thing could really be taken seriously.