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Insanely low level of IIs and seemingly low proportion of large holding LTHs. I think this just points to the share (and SP) being dominated by punters and traders who don't care about AGM resolutions. That is driven by the BoD treating shareholders badly with little communication and an explicit bias away from creating investor value in presentations, the volatility and short-term outlook of being a COVID stock, and reliable news deserts followed by giant RNSs (that could have been released separately). Since hitting 440 we've seen 2 big pump and dumps in the SP that kicked us off the downward trendline briefly, but no real strategy to stop this trajectory continuing. At this point I'm a little concerned that the dominance of speculators will mean that even the DHSC resolution will see a similar moderate rerate followed by a few months of sell-off. Not surprised that the base isn't engaging and it's largely the fault of the BoD for encouraging this situation.
I voted only because I felt compelled, by the LTH. As I have 57% paper loss and not happy bunny, just like most of them here. If you don't vote, then you can't moan.
As I said, ODX just got their resolutions through with 9 million votes out of 180m shares
This is only a "problem" for Novacyt as the quorum requirements were so much higher
Just think that people arent interested in voting. For presidentials in our country as for AGE/M.
Wouldnt relate it to nova.
If the majority of the abstainers is private retail investors who were just not keen on any actions taken then that is a good sign imo in a way that an unwanted premature takeover bid will not be easy to execute.
I should add that the difficulty in meeting quorum was that (I was told) we have circa 40000 shareholders! They are definitely looking to consolidate this.
If we have made the quorum I would be delighted, I had it on pretty much the highest authority (on Thursday) that the company did not expect it to be reached but were quite happy with fact they had even got close given the tough time they had given holders this year. I was also informed that we are not going to get Q3 earnings/results.
The quorum has be met for AGM and EGM!.... again thank you to all the helpers... you know who you are.... :-).... big thumbs up
Larry, that makes the low turnout even worse if circa 2/3 of shares are three taps from a vote it's actually incomprehensible (can't understand , I was just being fancy)
Thanks for the Intel Larry. So as 66% of the votes are held in France and it can be done in as little as 3 clicks, why on earth have we struggled to get 20%. You would have thought even the angry investors would have voted NO. For 80% to stay silent something is a miss.
Was it orchestrated?
Is it just Larry's app that is 3 clicks, the rest very manual like UK?
Did some fall down the back of Mandy's desk and remain uncounted.
Did Mandy just simply press the wrong key in her calculator
The plot thickens
We need to raise this issue on Monday to find out what stopped 80% from voting. If we don't get a satisfactory answer, that would mean something very serious deep down is hiding from us, good or bad.
Im surprised of how it works in UK to vote.
In France, on my bank app (also trading app) i get directly to vote and in 3 clicks it's done !
Lloyds send you a notification containing all of the resolutions to vote on and a pre-paid envelope to be returned by a specified date.
I'd seriously like to see DA in attendance. There could be an official ceremony for GM to handover the reigns. Then a big closing speech from DA advising us of all his insights into the next 3 - 6 months.
I am pretty sure that once all the free shares and options have been valued, allotted and finalised then we will start to see a constant positive news flow.
I bet if they found a way of completely digitalising and 90% automating the process then the 20% wouldn't have been a problem. Possibly, the 1st agm may have gone ahead with the majority of the resolutions being a NO. So in a way I am thankful that voting wasn't too easy.
It will happen one day where platforms such as HL, IG etc send you an automated link to your account, you select yes or no and submit. No need to prove holding as HL or IG will do that. This is then automatically collated and counted by an actual computer and returned to the company by said date. So easy any investor can do it. One day it will be like this for all.
Surely Mandy doesn't have to work weekends manually counting our votes on a calculator. I'm not so sure anymore.
It still amazes me when I watch poll stations counting all the pieces of paper/card. Come on! Get up to speed already.
Doesn't matter
Past is resigned to the Past,
The train is still on the tracks with a new driver. Fact the Meeting is going ahead should see a massive boost Monday to the share price
Personally i cant wait to see the back of GM and David take over.
Might stand half a chance now of a recovery.
Most people today doesnt bother to vote for mayors, deputys, president etc etc
No Wonder we are struggling for a agm.
And as Wilson just said, last year was the same, and that Time was much better for the moral than this year.
So i wouldnt blâme it all on the BoD.
Can't deny though that there was more people not voting as protest unlike last year
Well that is good news, now let democracy have its say on Monday, at the risk of repeating myself we struggled last year when we had a wet sail( we were going well) people are unusual creatures.
The fact they've struggled to get a quorum is entirely the fault of the board and their brokers, they've failed completely to engage the interest of IIs during the pandemic. Good company, great fundamentals, fantastic products but awful comms. Worst institutionally supported company I've ever seen.
Imo if you're struggling to get 20% of your shareholders to vote then responsibility must sit with the company. There are reasons shareholders are abstaining from voting en mass. 2 main reasons I can think of are:
1. Very poor Bod engagement with shareholders
2. Archaic process that simply needs modernising
Both of which fall solely at the feet of the company to fix.
Imo GM has set DA up with a golden Platter with all the trimmings. Think about it,
the SP is in the basement
Investor sentiment is in the basement
Company fundamentals are through the roof
All DA has to do is communicate and he's a sales man so I bet he even talks in his sleep. The rest will look after itself.
Now I in no way believe GM has intentionally done this, why would he, but nevertheless the stage has been set. Up step the new Messiah.
Isn't that important to know that who are they, institutions or a group of private investors, and why they didn't bother to vote, for or against the resolutions. They can have a big impact on coming decisions and the share valve.