The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Another 7% down? Something certainly does not seem right. The silence from the CEO is deafening ....... where is he?
Evening all, I don.t think things are that bad as not much is being heard all over, at least hope not. To me poor reporting started when we got an arrangement with Genus and our nuif mbers graph of production and delivery to Genus stopped. We then got a Framework with Intellismart, delivering but with no knowledge of allocation. Both of these in small monthly allotments to Genus, and contract take ups via Intellismart if being itemised would, to my mind, have slowly edged the SP up, being a visual advancement. Instead whilst all is going along smoothly, we have no further statements from either camp. No news creates a lot of talk and a drop. Both contracts were excellent but to onlookers without deeper knowledge it probably just appeared as moans. DYOR
Hi jakeandelwood
Number 2 in their own statement of Compliance with the QCA Corporate Governance Code:-
"The Group seeks regular dialogue with both existing and potential new shareholders, ensuring our strategy, business model and performance are clearly understood as well as to understand the needs and expectations of shareholders."
These aren't just things put in to fill the various pages of the company's website - or am I being naive?
GL
ITT
Hi ITT.
I did suggest in my email that under the circumstances and the fact there was a promise to keep shareholders updated ,which has in recent times been particularly poor,maybe something around our CEOs thoughts and context would be appreciated.
I still believe that should happen.
The SP hasn't finished the day this low for 3 years.
How bad are JC & HP going to let this get before commenting?
Giving shareholders the silent treatment is no way to behave. They are directors 'running' a public company and have an obligation to keep shareholders up to date with what is going on (good or bad). As they know that they can't hide behind the parapet forever, they might as well come out and comment, sooner rather later.
Thanks for the info jake. As ITT says, it appears a proper moan based reaction to what is clearly going on now. Gross % margin is collapsing year on year, and with the recent high additional costs the Net figure will almost certainly look ugly as hell. JC will have seen this figure around the time he started this weird attempt to 'spark a dialogue'. This company has gone through some very odd phases, always led by the company itself. This one I feel takes some beating, but I'm sure they will manage it.
Good morning all,
I remember some years ago, there was a discussion much like the one that has been discussed on this bb over the last 3 weeks or so, that I decided to contact the Company over and relay that reply to the bb. So far, so good.
When I replied back to the bb, the response from one poster in particular, was that I was a liar and that I had not received an e/mail from the Company at all. It is good to see that the e/mail information received today, has not had any similar comment's.
Good Luck all.
LTI.
Morning jake, I think we have already picked up the pieces once, hence our more intimate association in Intellismart. I think JC will be more thoughtful of content but it possibly didn't help having all these BB discussions, highlighting it. We will not know at present but perhaps CC India is having to consider margins. Once we are underway there could possibly be room for trimming.
Hi jakeandelwood
As we know, all parties, have supposedly been collaboratively working on this 'project' for years. The model and how it is to be financed will have been discussed over and over during this time. If JC has been led down the garden path (misunderstood the model), that's now our look out.
Let's have a trading update for Q/E 31/03/2024 and a brief statement from JC without any clangers in it.
Hi ITT. No problem.
I can understand why JC would try to sell the line quality over cost, I've always believed the adage"pay cheap, buy twice"
What frustrates he is the way some if the news is released without seemingly much thought around the consequences at times. It remains to be seen what CC can win at their price point. We all know the issues in India, they want something for nothing but top quality, hopefully those that choose that route get burnt and CC are there to pick up the pieces.
Hi jakeandelwood
Thanks for taking the time to write to the company and for posting part of the reply.
Sounds like they are really up against it to me re Cyan's upfront costs. No good him moaning, what are JC & HP going to do to solve it - this is what the pair are paid £700K pa for i.e. not the day to day humdrum stuff.
Perhaps he regrets bragging about Cyan's 95% gross profit margin a few years ago.
To me, it sounds like we're stuffed unless JC plays ball and reduces Cyan's upfront costs.
Thanks again.
ITT
Morning all . I have received a response from the company. I wont post the whole email just the relevant points.
Having looked at the response I think this was JCs personal take and lessons should be learned. One thing taken out of context can have negative and (sometimes) a positive affect.
I fail to understand why some of this stuff is not peer reviewed before being released. My personal feeling ,right or wrong is that this is one of the things that has reflected in the share price over the last few weeks. Lets see where we go from here. I,m sure anyone contacting the company themselves will be provided with the full email if required.
The overall article.......
"Regarding the article, thank you for reaching out with your concerns regarding this blog. It’s evident that a deeper clarification is needed, especially regarding the context and intent behind his views."
"John's reflections, which were aimed at industry stakeholders, policymakers, and regulatory bodies in India, were intended to spark a dialogue on the importance of prioritizing quality and reliability in smart metering solutions amidst pressures to minimize upfront costs.
The comment around cost....
"a concerning trend towards prioritizing lower upfront costs over quality and long-term reliability has surfaced" should be understood within this larger narrative, advocating for the long-term benefits of investing in quality—a principle at the heart of CyanConnode's mission.
I think tonyj, you will find the PLC reference on this website. But there are some anomalies within the report, dated April 8th, 2024.
- L&T Electrical and Automation is mentioned, but they were bought by Schneider Electric during 2017/2018, I seem to remember. The L&T Electrical and Automation website is still available, but shows no news posted since 2017/2018.
- There are also some Chinese companies shown that may not be relevant or acceptable, at this particular time.
- PLC is a tricky one. PLC has limitations on performance, has all solutions do, but must be expensive to provide, by the very nature of its name. A cheaper option if you have an installed infrastructure, but expensive if you have to provide the pylons or lay the cables.
Much more competitively priced to provide the RF Gateways across difficult terrain.
All in my opinion, of course.
LTI.
I was interested in the reference to predominant PLC. Not heard that mentioned before, hence I suppose the list of ordinary meter manufacturers. Any thoughts.
I'd say 'shortly' actually means autumn (at the earliest).
There's the election to get through (finishes early June) - definitely can't see anything happening before then.
Not to worry though, there's plenty of content/celebrations to keep the India team busy (and keep one or two happy here).
https://www.drikpanchang.com/calendars/indian/indiancalendar.html
Good morning Vas,
Thank you for the extensive list of meter manufactureres. I haven't checked fully, but do you know if they have all qualified for the REC Empanelment List, which I understand is the poole of qualified meter manufacturers that the various AMISP's are using.
There are some on the list that you posted, that I know from memory are on the REC list, but there are some that I do not recognize.
http://recindia.nic.in/ami-test-demonstration
If the REC list Vas, travels in Hindi, just press " English " at the top of the page and it should translate.
But thank you for the original information.
LTI.
We know IntelliSmart and Montecarlo are not meter manufacturers , but also Adani does not get mentioned here either.......................imagine the number of smart meters that have been awarded between them - and they will be subcontracting to the meter manufacturers shortly.
https://cea.nic.in/wp-content/uploads/notification/2024/04/List_of_Net_Meter_Manufacturers-2.pdf
Not sure if already posted but gives an overview.
https://www.globenewswire.com/news-release/2024/04/08/2859266/0/en/India-Smart-Meter-Market-to-Reach-USD-3-179-5-Million-By-2032-at-34-57-CAGR-Astute-Analytica.html
....... celebrates the feast of Ugadi, or the beginning of the year, in India.
http://twitter.com/CyanConnode_Ind/status/1777578556190589165
I/We wish them all the very best for their New Year celebrations and for the rest of the year.
Good Luck all,
LTI.
Welcoming the New Year with hope and joy as we celebrate #GudiPadwa, #Ugadi, #ChetiChand and onset of #ChaitraNavratri. May these auspicious occasions mark the beginning of prosperity, happiness, and success for all. CyanConnode wishes everyone a vibrant and prosperous year ahead!
Well done to all concerned : ))
Hi Colour. No as yet nothing. There is not one thing in my email that JC cannot answer as its based solely around his comment he put in the public domain. In my view he needs to clear it up. I have to say I'm not expecting a response but let's see.
'I am encouraged that the Company had the confidence to make this public.'
I assume you have forgotten how this information was released LTI. It is clearly a known fact, and it has affected the Share Price. Both demand official News Release from the company so ALL will be able to see it. JC's schoolboy attempt to slide it on Linkdin, using CyanConnode India account, is pathetic.
I assume you had no response Jake?
Good afternoon all,
The main winner from what I can make out is Himachal Pradesh which had 9,19,092 ( 919,092 ) smart meters Awarded so far this month, from a total of 28,00,945 ( 2,800,945 ) that have already been Sanctioned.
Well done Himachal Pradesh.
The total number Sanctioned remains the same, at 22,22,64,571 ( 222,264,571 ). The total number Awarded goes up to 11,02,59,425 ( 110,259,425 ) and the total number of smart meters installed goes up to 1,04,60,295 ( 10,460,295 ).
Good Luck all.
LTI.
Hi jakeandelwood
That's why I posted the following on 27/03/2024:-
The BoD have a duty of care. Failure to uphold the duty of care may result in legal action by shareholders or clients.
Along with the duty of care, the other main fiduciary duty is the duty of loyalty; the duty of loyalty seeks to prevent directors from acting against the best interests of the company.
My trust in the BoD is at 0%. I hope that I'm wrong.
GL
ITT
...... has been published and updated as of 3rd April, 2024:-
http://nsgm.gov.in/en/sm-stats-all
LTI.