The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Ps - imagine what AFC could do with a half decent CEO, no idea how Bond has clung on for so long...
No idea where that PHE rise is coming from,also gutted to say I sold all my 1.5 million shares, would look quite nice in my account at the moment...
AFC is doing well since I sold too, still not made a sale though.... Gla
The market seems unimpressed by AFC's latest offering, mores the pity. I hope AB is not losing his touch for instigating a good SP rise. Talking about business that might come our way in 2 years time isn't going to do it anymore. We need confirmation that we have orders and soon if AFC is to retain any credibility.
The shareholders will gain access to management at some point where questions like Hiiroc and W2T shares will inevitably come up. Also it doubt they would want to meet and greet based on what we currently know. Most shareholders are going to be asking why no orders yet I guess.
Still, the green economy is budding and will hopefully bloom soon. Just wish i didn't sell all of my PHE shares...
Dear FCI,
Having had some dealings with the directors, albeit through emails, was their a dismissiveness to your comments which for the vast majority of investors seem reasonable and obvious?
The CEO has a seriously good pay package and it needs to be justified by results. Today could be a precursor to some interesting RNS's or just fluff to keep shareholders off their backs as they pocket their hefty pay for at the moment light results.
I think that it is now a good time to look back at the action points that I suggested on 2nd May and see how far the company has progressed with them:
1. A date within the next couple of months for an investor day with a proper presentation to go with this. If the lockup rules mean that this needs to be held via a livestream, with a mechanism for questions to be asked in realtime, then that should be easy to organise. STILL WAITING FOR THIS
2. An update on whether AB is due to get onto Sky with Ian King and, if not, why not. At the very least, AB should confirm that he has asked for the slot to be rescheduled. STILL WAITING FOR THIS
3. A proper PR campaign that puts AFC and its products at the forefront of the green revolution and the hydrogen economy, with either Tuva or someone in the company being responsible for contacting the media whenever there is a story in the press that the company might be able to use as a hook to promote itself, its products and the hydrogen revolution more generally. GOOD PROGRESS BEING MADE
4. Regular use of social media, ideally at least 1 or 2 relevant posts each week about activities that the company is engaged in or about wider issues relevant to the company, rather than 1 post on Twitter and LinkedIn in 8 weeks. WELL UNDERWAY WITH A SOCIAL MEDIA STORM PROMISED
5. Regular use of the CEO Blog on the new website. This started to come to life during the roadshow in February but, during the biggest economic threat to our economy in decades when panic has taken over the world, it is not being used. GOOD PROGRESS MADE
6. Release a set of clear targets with timeframes for being fully commercial and for at least initial orders to be received for the various products that are either already on sale or that are not yet ready for sale. The important point here is for the directors to make themselves accountable and to explain that they will hold themselves to these targets and take appropriate action if they fail to achieve them for any reason. BITS AND PIECES HAVE COME OUT IN THE UPDATES BUT THERE IS ROOM FOR MORE ON THIS
Overall, looking back at this, I can see that there has been a huge improvement on where we were 3 weeks ago when the communication strategy was sadly missing. I can also see that there is still a lot to come and I hope that the company is busy working on these action points!
Is this level of performance consistent with one of the highest remuneration packages on AIM?
So, it is over a week since I posted some simple action points for the directors to consider and over 2 weeks since the "closed"AGM. To summarise the progress made:
- No date for an investor day set.
- No update on the Sky interview.
- No PR about the green/hydrogen revolutions.
- No social media posts.
- No CEO blog posts.
- No timeframes or targets produced.
Perhaps it would be easier to say that the directors have said and done absolutely nothing. How many weeks at full pay, whilst claiming that it is full steam ahead, do these directors need to actually say or do something, even just to write a short twitter post about the recent EV charging news?
I am trying my best to be constructive and conciliatory but this is very difficult when faced with this sort of inaction. Meanwhile, the share price is falling, day after day, which is hardly surprising in the circumstances. Over to you, AB et al.
Thanks for the replies and "recommends" to everyone who did this. It is heartening to see that a lot of shareholders agree with the action points raised and I trust that the directors will take note of this as they begin to work out their plan for the coming months.
My suggested first step was for a date to be set for the investor day and, as Heath said, this could be streamed live and used as a great PR point regardless of whether it happens in person. I can understand waiting a few days until the UK lockup has been reviewed but, after that, there is no reason not to give a date for the investor day and to then start a PR campaign linked to this...
Hi Fuelcellinvestor
I think you have hot some very fertile common ground there and I support each of your suggestions. How you get AB to agree, never mind even acknowledge that he has seen them, I don't know.
Thanks
Excellent FCI.
I think the investor day should be online regardless of whether people are allowed there or not. It could be a huge PR stunt.
Thank you to all who replied to my last post, whether in agreement or not. It is clear from the responses and "recommends" that many other shareholders have a similar view but I also appreciate that a number of others automatically go into defensive mode if they feel that their investment is being questioned. In the hope that we can find some common ground, I thought it would be helpful to start a list of possible action points for the directors to address and, hopefully, most on here will see this as a constructive exercise that will be taken seriously by the directors and give them some clear messages about what many shareholders are looking for during this important time in the company's development and during the strange period in the world's history:
1. A date within the next couple of months for an investor day with a proper presentation to go with this. If the lockup rules mean that this needs to be held via a livestream, with a mechanism for questions to be asked in realtime, then that should be easy to organise.
2. An update on whether AB is due to get onto Sky with Ian King and, if not, why not. At the very least, AB should confirm that he has asked for the slot to be rescheduled.
3. A proper PR campaign that puts AFC and its products at the forefront of the green revolution and the hydrogen economy, with either Tuva or someone in the company being responsible for contacting the media whenever there is a story in the press that the company might be able to use as a hook to promote itself, its products and the hydrogen revolution more generally.
4. Regular use of social media, ideally at least 1 or 2 relevant posts each week about activities that the company is engaged in or about wider issues relevant to the company, rather than 1 post on Twitter and LinkedIn in 8 weeks.
5. Regular use of the CEO Blog on the new website. This started to come to life during the roadshow in February but, during the biggest economic threat to our economy in decades when panic has taken over the world, it is not being used.
6. Release a set of clear targets with timeframes for being fully commercial and for at least initial orders to be received for the various products that are either already on sale or that are not yet ready for sale. The important point here is for the directors to make themselves accountable and to explain that they will hold themselves to these targets and take appropriate action if they fail to achieve them for any reason.
I really do no think that this is too much to ask for a company the size of AFC if it wants to be able to justify an MCap of £200 million that it reached a couple of months ago and, ideally, compete with the likes of ITM/CWR in the years to come.
As I say, I hope that this thread will be received positively by many on here and by the company, who we all know monitor this board, and I hope that some people will come up with some other constructive ideas to assist with this process.