Warm and fuzzy AGM today?........Um.....
no!
Having been a shareholder since 1998, I have been to zillions of Vmoto AGM's and I can categorically say,
NONE have ever been anything like this.
It was good to see that we had almost a full attendance.
Phil came across from Melbourne, Charles and Ivan came over from China, Jacky was hooked up on speaker phone and Shannon.....well....she's always there (thank God).
Phil gave his Chairman's address (which you will have all read) and Charles gave a presentation (which you will have all seen).
After the formal business, questions came from the floor.
Warm and fuzzy? No.
One long term holder in particular who's name I didn't catch (so...lets call him Batman
), expressed great disappointment in the fact that Vmoto is still languishing at all time lows and how every year, the coming one is supposed to be "The Year".
For the first time,
factual, researchable statistics were given, about the inflection point of the European electric scooter 'breakout', which occurred late in 2017.
It's quite similar to all of those technological 'game changers' (computers, phones etc), where they bump along for ages with minimal growth and then all of a sudden....
BOOM.
Pleasingly, Vmoto accounts for 10% of all European sales to date and at a whopping 15% margin, so with this electric scooter uptake officially exploding around 6 months ago, this coming year really could be
"The Year" for VMT.
Finally, Phil went on record saying that the locks on our chest of potential, had officially been unlocked and he is now talking to brokers.....
big brokers.
We also have an IR firm assigned and you'll all remember what happened last time we had one of these. Our share price was happily dancing around
50c.
So......Gottalovevmt?
I'll tell you in 6 months.
