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For me assuming the company revenue and profits are as they seem i just think the BOD are a group of academics and engineers and great at that side of the equation but spectacularly bad at marketing and outbound communication. I think looking back over historic RNS shows how limited their communication is and an invisible BOD who does not communicate is an invisible company and shareholders move on to companies who are more in tune. If they were happy to spend £1m on people writing a decent IPO document they can spare some cash bring in some people to turn around their outbound communication and marketing. They have so much cash this is hardly difficult to fix once they acknowledge the challenge. if they continue to bury their head in the sand and blame the investors for not understanding their business they will continue to fail miserably from what could be a very promising global clean tech company but since they have only won China contracts it shows just how bad their marketing and communication is to other countries. They just need to embrace modern marketing and communication and they could be a £100m organisation as opposed to a £20m organisation.
What do you think the play was? Hustle potential investors with the move to HKEX on a price that would never happen?
Or is there still legs in this and they're scooping up at the low price to then roll up the original planned share price?
I'm super burnt on these shares. Got greedy looking for the quick flip. Alas an already long slog is now even longer with even more capital at risk.
Well done Simms on getting an actual response, very benevolent of Ivy. This sounds like trying to teach your Grandmother how to suck eggs, when it comes to PR I wouldn’t credit the BOD with the term ‘amateurish’ as they are nowhere near that level, I only wish they were. Something stinks here, hope I’m wrong. As stated, happy to join any group on here to raise issues with the HKEX regarding the deafening silence from the Company.
I have received an email back from Ivy at CNE so that is a small relief. My correspondence was largely around improving shareholder communication and outbound presentation of the company but also touched on dividend and share buy back simply given the the very low market cap of the company cannot be doing CNE any favours at all on any front and almost certainly distracting potential sales opportunities. I got this short response and wearing moderately rose tinted glasses it could be construed they are making early moves to address some areas but "considering" is far from action.
"Thank you for your emails and the BOD have met some FAs and are considering your advice."
It does look to me on reading the form that the directors bought roughly 40m shares at a 60% discount at $.149 and diluted shareholders by adding 7%. Looks that the directors/owners have increased their control over the company and diluted the recent investors who paid 6x for the same pleasure. I do not know the % of shares left in pi hands and how many are owned by a small number of owners but my guess is they continue to further dilute the pis. That is perhaps the negative view of this as you could argue the directors who bought these cheap shares have a reason to promote the company and grow the share price back to the IPO price which arguably would be quite easy if they just beat the drum a little and got involved in sharing contracts secured. Inner Mongolia anyone did that happen? However these warrants were awarded pre IPO so they had no reason to force the price down for cheap shares as had them awarded, for what reason i have no idea? Certainly not for achieving any milstones in share price performance? I have seen scenarios where boards drive a share price down by exactly the lack of sharing news then do a huge private placing with bonus warrants attached for themselves at crazy low prices and then ramp the hell out of the share price once they have got a large wedge of shares for themselves. however i do now wonder if they are planning another raid on the shares by some other cheap way?
Did the latest update confirm the Director took up there share options at a low price only last week. Not sure they’d be doing that if the company was ditching investors.
TM, I’m happy to share personal contacts to go after this lot, my family have c. 1.6m shares all bought this year, luckily not at 10p. but still in a position where I have to hold now.
Do you know who are key owners of CNE? to me if there is no dividend and a small minority who own a controlling stake then certain leverages to normalise the share price are not available. For example if a dividend was declared the share price would adjust based on the yield. If the company did not have controlling shareholders they might be a takeover target. Without these leverages what is the value today of CNE as how will shareholders get value from the business if the owners are not aligned. Clearly that sort of behaviour is against shareholder interests but to actually take some form of group action is probably time consuming and costly. My advice is to pursue company representing a group of shareholders and request updates or a meeting with Richard Bennett or similar. personally i have never come across a listed company that simply does not respond to shareholders on any level. By not providing any news they are creating conflicts and you then need to ask questions are they doing this on purpose for some other purpose. certainly i am very dissapointed Richard appears to ignore shareholders and the best action is for more shareholders to directly call him and email him as sooner or later he should respond.
How do ppl feel about joining forces by exchanging personal contacts to go after the directors and get a full investigation rolling on the directors and events surrounding the ipo. It is a public listed company. Things are supposed to be out in the open. Not a pandora box where we have hundreds of thousands on the line. Remember hk stock exchange felt this company met the criteria of a £50million company 2.5 months ago. We have the basis for a good investigation. Market cap today is £19 million. We need to put heat on directors. They're putting heat in my bank account. Who is interested? We need to act now before they cut and run.