The cleaner has probably already been summoned into the office together with other junior staff and been told a pay cut is necessary for the good of the company. All bearing the pain together.
The directors of AIM companies are an incredibly thick skinned bunch (Sepp Blatter would be proud of them), most of them have lost huge amounts of money for shareholders and are still hard faced enough to award themselves bonuses, share options and pay rises.
There should be far more director sackings in AIM companies to shake the directors up and rid out the wasters, too many fail without repercussions.
What a concise and catchy vision statement to lead off the presentation (not).
"“It is our vision to build an African focused exploration and production company which in time becomes renowned for its ability to consistently create and realise material shareholder value through exploration led organic growth and niche acquisitions.”
It looks to me like a bloody statement of their slow plodding intent, Bowleven aspire to be OK even good but outstanding appears out of reach. Don't they know that if you don't aspire to be outstanding/the best/surpass etc then you won't even achieve OK. At least set the bar high.
I think they need to rethink their strategy and get someone to put a bullet up the backsides of the management, the company appears to lack any sense of urgency, they are in a great position to maximise shareholder value but they need to make it count, they have failed miserably so far. Align a powerful vision with action.
Overall, a poor presentation. Yes it says what they do/expect, but In my opinion desperately needs to present a company and team with more enthusiasm, determination and scheduled goals.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.