Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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I really don't think it's fair that's you assassinate the characters of the BOD in such a public way ... So let me do it.. BOD... Your rubbish :-p
I’m afraid it’s because they couldn’t really give a toss about “shareholder value”. It’s a game to them, where investors are just mugs who are willing to keep the illusion going by buying and selling. They never connect with us because they never meet us. Let’s face it, they were quite happy to shaft their employees who they saw every day, rather than admit they didn’t know what they were doing. Live and learn. Live and learn.
Agreed. But sad that we still feel the need to comment? |’m sure we’ve all got the members of the BOD on our radar and will avoid them like the plague in the future. For the record (& search engines) the culprits are Gwyn Humphreys, Tom Bannatyne, Darren Bamforth and Mike Townend. These names are from the EVO website, which is still there in all its misleading glory! But they are irrelevant now. I hope Venn use their cash wisely and make something out of LabSkin, if only to prove how much the EVO BOD fouled up. My advice to Venn is don’t dick about. It’s a good technology but don’t make the same mistakes Humphreys and co did. Listen to advice and get the sales machine going. In fact, take on Mortgagefree as I remember he had some good ideas on the subject?
bettertimes, you hit the nail on the head when you ask what happens to EVO now? It has a BOD of proven incompetents, no business plan and some cash, which no doubt will gradually find it’s way into their pockets (remuneration, “fees” etc.). Definitely unethical and self-serving. So they have to announce a proper plan for the future. How do they “manage IP” when a) they haven’t got any and b) they haven’t got the skills to identify any? Otherwise, everyone should just sell up ASAP and recover anything they can because this is heading for the bin. Pull the rug and vote with your feet!
The facts are that Gwyn Humphreys had nearly 2 years as CEO with adequate cash to make this work and he's failed miserably. The BOD appears to have spent the last 18 months winding down the operation, hoping someone would take it off their hands. They were useless and incompetent in the extreme and they should have recruited someone with the business skills and drive that Gwyn Humphreys so obviously lacks, raised some more funds and got on with job instead of languishing in a soup of self pity. They've had two years for goodness sake! The key point is that it didn't have to end like this and the only reason it did was because of the EVO BOD and Gwyn Humphreys in particular. For that they should hang their heads in shame and they should be brought to book. But that won't happen because where we see self serving laziness combined with incompetence and arrogance, they are deluded enough to think they've done a good job. And the Mason-like old Boy network (& it is mainly men) of Dickrectors (not as spelling error) will ultimately protect their own.
On the second occasion I spoke with Gwyn, in about July of last year, the last question I had for him was very succinct and clear; "Are you confident about Evocutis in the short to medium term?" His response was equally succinct; "I wouldn't be the CEO if I wasn't". The little rat played everyone; shareholders, staff and ultimately lost bigger than anyone could predict. I hope his family read this and know what a horrible little man he is.
EVO have incriminated themselves with their statement in the RNS ON 26/2/14, " The Board of Evocutis recognised the difficult position the Company was in late in 2012." Therefore why did not mention this when they said they were in takeover talks.on 28/1/13 or even when they gave us the alleged highlights!! in the interim results on 28/3/13. Surely they could have included it as one of the low-lights. Investors expect companies to be upfront and honest about the state of the business so that they can make informed decisions and 99% of them are. At very least, we might have expected a "No reason for the rise" RNS. Had EVO done so then people like MF, Baker, Astro, me and many others would have made very different investment decisions. However in spite of very limited information from the company, it was my decision to invest and I guess I have to take responsibility for that. It's a mistake that many of us will have learnt a lot from and hopefully one that we will not make again.
The BOD are full of B S **** as usual. Evo has nothing. Labskin was quite a temperemental product requiring experience, knowledge and expertise. All the staff that had all of these were sacked. Highly unlikely anyone else would be able to reproduce to the same quality. IP is not everything without the experience etc
Blah, blah, blah. A few small matters such as lack of staff, facilities, expertise etc. will make it difficult from the off. If they able to get some key people to join them then it may be possible. But they will have to work hard to get any staff back. I just feel they've been sold a pup. It could be the EVO BOD have shafted someone else??
VENN plan a placing to raise £1m. "The Directors intend to use the net proceeds of the Placing to develop the opportunities provided by the recent acquisition of Labskin™ and the SYN1113 intellectual property rights." It will be interesting to see if they are able to "develop" these where the EVO BOD failed so spectacularly.
bettertimes - same here. I was happy to let THE GANG (mortgagefree, astro etc.) speak for us, but now I just want to sound off. The problem I have with the EVO BOD are statements like this from only six weeks ago: "The board considers that the value within the Group vests in the LabSkinTM technology and the Group's other intellectual property assets….” AND SO they’ve just GIVEN them away for virtual peanuts! AND "The directors have changed the focus of the Group's activity from that of providing contract research services….to that of managing the intellectual property portfolio….” BUT they haven’t got any IP to manage? It’s these forked tongue outright lies that gets AIM companies such a bad name and continues to wind up investors. I’m sure the BOD felt quite smug with themselves at the AGM for having got a deal. The fact that it’s the equivalent of selling MESSI to BAYERN for £1.50 will be completely lost on them.
Thanks Mate. First time poster, long suffering investor. But looking on the positive side, it's taught me to stick to a target and not get greedy. If only ......
Best first post I've ever read !
Sorry for being a bit thick, but what exactly do EVO do now? No LabSkin, no syn1113 (that was the IP bit??), no assets, no staff, no nothing. Yet their website suggests they have lots of happy smiling staff and it is a "is a leading dermatology company focused on skin science". So whoever is still around, take down the nonsense website and stop misleading people. Otherwise I'll report you to the LyingCheekyBastard Web Police.
I step close to being dissolved. EVO will soon be dead and good riddance to very bad smelly rubbish. http://www.investegate.co.uk/evocutis-plc/rns/result-of-agm-and-general-meeting/201403131300042441C/
A deal done then. Oh well. Come on VENN !
You are a gent. Will have a look at BRD and much obliged. I've got IRON in SA which should be a winner so I hope and I've not anything in diamonds, so sounds interesting. Cheers.
Check BRD- diamond mining industry. They bought a mine in S.A last year for a fraction of its value. They started already test-mining, 1. Predictions for diamond prices for coming years very encouraging 2. BRD's market cap just around £4m (there are already diamonds there- no speculation), just 31m shares in issue (62.9% not held in public hands) I'm not saying it's a multibagger from tomorrow or next week but...DYOR. GL
TRP just the 15% today and 11% yesterday. Do have a look and feel free to let me know of any other potential multi baggers you know of. GL.
Guys, I've still got my EVO shares. Just not worth selling and there might be a chance of getting something back in due course, or not ! My losses in EVO however are nearly now recovered by an investment with TRP. Have a look, I got in at 1.8p, now just approaching 6p and they have the potential to fly shortly if they strike oil. 40% chance, which in oil industry terms is bloody good. Potential for massive multiple rewards or nothing and might be worth a punt to recover from here. Good luck to you all, Regards.
Oh yes Evo is up 40% today, probably be down 50% down tomorrow. This company is dead as the dodo. The shareholders of EVO have been well and truely sh**ted! Expect to loose all your hard earned cash if you have invest recently.
Now what's happening here
Who knows merving, EVO may well bring this little piggy back to life... After all the are friendly to animals. JUST REALLY MEAN TO INVESTORS !
there life in this yet as i have some of this little piggy !
How can the IP rights to LabSkin be sold when there aren't any? LabSkin is not patented, the method to produce it was published in the scientific literature several years ago.