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Morning...
As we have said before, this is an open forum so everyone is entitled to an opinion.
Why would Mr Porky invest here while we are in this state.
PM you voice your opinion and Porky will do the same.
I know whos nearer to the truth...
Just MY opinion !!
30T tipper.
What a surprise Porky's turned up.
Slater's post doesn't add up. If he held shares and was very worried, he'd sell and either buy back lower or just move on. Pinch of salt. Or a bucket
That’s a brutal analysis from Nick but I can’t actually fault the logic.
The knee jerk reaction to appoint two more Suzy supporting NEDs at cost to the shareholders when already faced with a Requisition Notice was sticking two fingers up to Shareholders for sure. No way is she going to give up a £180k a year package job without a fight.
Both Gerry residing over two crashes and Mark as a BDM being possibly the only sales development manager, I have EVER come across to hold a job down and not secure a paying sale ever is truly remarkable. They both also need replacing anyhow.
I am not sure what the process is to pass the resolution at the EGM, can it be by a simple show of hands? Providing all 7 resolutions are passed you will have a new board consisting of Suzy and Gerry plus Adrian, Ben and Ray so new board can vote as a majority to move Suzy from CEO and back to a science role where she belongs.
As for these recent two proposed pro Suzy NEDs Martin and Luke they must be blocked. My understanding from the RNS 29/2 and 4/3 is they are proposed, meaning would need to be fully appointed and as that would now be AFTER the Requisition notice date the passing of Res 7 takes care of that.
Its going to get interesting for sure. IF at the end of April EGM all 7 resolutions get passed, Suzy agrees to change position (3 mths notice) a new chairman comes in end of May and new CEO found and appointed with luck on our side they could be ready for end of June ready for H2 that is the best outcome as I see it.
BUT, the bit the LTH wont like is that sorry but you then have a great new BOD to drive it forwards from H2 but next to zero WC left especially with the increased costs and settling liabilities so they will need a raise to drive the business forwards from H2. Its how it is which is why I posted “pain before gain” they will do well to raise £1.5m at sub 2p from this position IMO
Good luck
@NH
Agreed - Nobody in their right mind would want to retain Kevin after the arrogance and contempt for shareholders displayed at the last meeting. Likewise, Suzy has proven she is incapable of being an effective CEO. Far far too many blunders to date. The skills required as a scientist are poles apart from that required as a CEO. She lacks the required commercial acumen for the job. She has to be replaced. Sorry.
One thing ALL must remember, is that without her, many here would have lost the LOT a LONG time ago, when George and Mildred, with draining the Coffers dry and Co was in a far worse state?
I feel 201 / 301 / 401 should be re-evaluated, as personally I saw mileage in 401 ?
And also agree, as whilst a Scientist first, was a novice CEO, but it does takes time (& money) to gain experience and put a Co on the right track? Not all plans go the way you hope sometimes?
As for Neds and other Board members...
Well I do feel she should look outside of the normal catchment area, for independent honest helpful advocates, before making further "knee jerk" appointments ?
#justmyfourpennethworth imo dyor
Nailed on. Paid by VAL to post this $hite.
You need some experience. It is a bit like building a house you don't knock it all down and build again with non builders maybe doctors acting as builders trying to build a house with no help and needing all the money to build from scratch which means more placings and destruction. You lose everything if that happens that is if people are really invested.
Personally I would keep Suzy and Kevin for now as if you will put people on with little experience then you need experience to go with that whether you like it or not. You have to build on what you have.
The better solution would have been to have the two new non execs joining who have experience then making improvements later but that never happened.
Slowly slowly, catchy monkey!
so why wasn't she also included in the 2nd requisition rns to be immediately removed along with the others.
with all the hatred and ****ging off of suzy to leave it baffles me to why she wasn't included. ..make up your mind guys , that was your chance ..
keep as a scientist only is my call
pj
Fear fear fear. Spread the fear!
As she knows every single shareholder wants a new CEO .
One of the new non execs worked at Northlands where I’m sure Mark Treharne worked .
So it’s very likely she will control the BOD with both non execs and Gerry voting with her .
Pointless letting the BOD pick a new Chair as that will strengthen SuZy’s position on the BOD.
I still hold shares so these moves are very worrying indeed
as I think with Suzy as Ceo we will all loose our money .
Whose going to back a raise of £2m with no revenues and no profits after this recq ? NOONE
IF SuZy leaves we can get more evaluations in and we all have a chance to recoup losses ..with her I’m afraid to say it’s game over .
Well said OB. Imagine where we would of been now if she invited Adam onto the board all that time ago? Obviously hiding the fact Trx is total codswallop and he would of been able to see.
3 good Amigos trying to help the common cause…..
The need should have never arisen in the first place….end of ..
It was a family business, very well thought of in Coventry apparently, from what I have read Adrian de Courcey took the reins in 2010 and ran it successfully until the Pandemic took its toll.
Up until then the business was expanding and doing well, maybe the expansion just at the time of COVID was the problem, he can hardly be blamed for that.
UXM
If I didn’t know better I would say you are getting way too personal….
Just my honest opinion…
OB
Uxm
You ever taken on a challenge to turn around a business
No. It founded 52 years ago, maybe family business now dead. He did not build the company from new.
He just sent it to bust.
Founded 1972; 52 years ago
Defunct 23 August 2020; 3 years ago
Headquarters Baginton, Coventry, United Kingdom
UXM,
I’d be happy to share the same trench with Adrian any time….
OB
Or another way of looking at it.
The guy ran a successful transport company for many years until the Pandemic ended had a catastrophic effect on business.
Have a look at the fellas CV, it’s pretty impressive!
Ravel de Courcey has collapsed into administration, placing 180 jobs at risk. The Coventry operator took the decision after seeing a dramatic decline in passenger numbers and income caused by the coronavirus COVID-19 pandemic.
Matt Hardy of insolvency practitioners Poppleton and Appleby has been appointed as Joint Administrator. Mr Hardy says that he is now working to salvage what is possible from “a very bad situation.” Interest is expected in “certain strands” of the company.
Travel de Courcey CEO Adrian de Courcey explains that there was no alternative to placing the business into administration. “The move is very much a last resort brought on by global circumstances beyond our control. We saw a huge and sudden collapse of business at the start of the lockdown and it has not improved sufficiently.
Travel de Courcey enters administration after ‘dramatic decline’
2 questions...
1 - where is the outreach from the requisitioners to the wider shareholder base for their proposals? What are their intentions? Where do they see VAL going to? What relevant experience do they have?
2 - are the requisitioners the same as those a few weeks ago or have an alternate bunch tried to muscle in / been recruited by Suzy?
So how much experience have the 3 amigos of running a small biotech?
Zero I suspect.
So are they merely proposed just to keep an eye on Suzy and nothing else?
Never underestimate the skills of a retired shareholder