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Thanks Pete for taking the time to share. Much appreciated. I would like to ask you a few questions on what was said but no point.......you will just get slaughtered mate. Cheers Cally.
The new SMRT board , this is "sooo yesterday"
You still here ? thought you had beggered off to pastures new ages ago
If there is nothing much more to say , we don't you try it and say nowt, fool
" I am happy to accept your honest views on FB" Oh dear, oh dear. Nothing much more to say!
Hey if he gets the MCAP up to £200 million we can plan the 10 p party again (in old money) anyone any thoughts for a venue, maybe we could offer an IPAD for the best suggestion :-)
Pete , I am a glass half full sort of a guy, therefore I am happy to accept your honest views on FB and will watch with interest, the cynic in me though says Toastal has got a point though :-/
TVR
We certainly can be thankful that they carried on and pulled us back from the brink.
FB comes across as a really genuine person who "Wears his heart on his sleeve" and does feel shareholders' pain. He is also an articulate communicator. We now need him to identify and close deals on the right acquisitions and IF he can do that and come anywhere near to his hoped for M/Cap then our patience will be rewarded.
Thanks for the update Pete.
I attended an AGM a couple of years back and I asked Mark Braund how close they were to calling it a day. His reply was "very close." He said that they all went home for the weekend to think things through and on Monday, they all decided to continue because, in his words, "how could I explain to people like you that we had just given up!?"
At the time I had £120k invested.
Many thanks for the update Pete, much appreciated as usual. No reflection on you at all, but FB feeling sorry for a lady who invested her life savings in COMS, and that’s given him inspiration....oh please Frank, what a complete load of total and utter sh&&e!!! That says it all, nothing more to see here. DB didn’t even stoop to that level.....pathetic!!
Thanks Pete , much appreciated
More of the same. Oh dear - nothing will change over the next three years (other than the Board will pay themselves even larger amounts of remuneration)..
ERV1
You're welcome :)
I also meant to add that there were about 6 private sharehloders present.
Hi Pete
Your feedback is much appreciated, many thanks for that.
4 Members of the BoD were present.
FrankBeechinor, Spencer Dredge, Guy Van Zwanenberg and Diana Dyer Bartlett.
All the resolutions were passed
In response to a question it was confirmed that the company would not have to pay any tax on the disposals.
FB confirmed that with taking over as CEO that he had stepped back from his commitments with 3 other companies and also reduced his small involvement with Dot Digital.
Following the disposals SMRT has 3 offices in Bristol, Luton and Mildenhall and the premises are relatively inexpensive to run. They have a robust team of 67 staff many of which have the ability to work from home.
They are looking at about 3 acquisitions in the next year and FB sees the potential to rebuild shareholder value quickly.
This will be achieved by.
1. "Bulking up the businss to increase turnover"
2. "Filling functionality gaps with analytics and field management.
There was a third point to do with SaaS but I couldn't keep up with my note taking.
FB's commitment to his role as CEO is for at least 3 years and his aim is to turn SMRT into a company with a Market Cap of £200m - £400m.
He told a story of how in the dark day of COMS when the SP had dropped to 0.4p how it could have been easier to give up but he heard an account of a woman who had invested her life savings of £68k in COMS when the SP was 8p and that this was a big motivating factor in doing all that could be done to turn around the company's fortunes.
It certainly came across to me that they intend to reduce needless costs and thereby create a lean and effective operation.
Since u act like a troll I give you some feeding. Aim shares are highly risky so there is nothing to defend. Nearly most the lth have written the investment off and anyone investing in aim shares surely must know they are high risk and only loose what they can afford to. This is hardly the worst share on akm there have been a number of boom bust ones and yet you never highlight that and continue to moan well if that rocks your boat ok.
RNS 29th May .....In the event that the Company is unable to conclude suitable acquisitions or that some or all of the cash received from the Disposal has not been deployed and is still left in the business after 2 years, the Board will consider returning funds to Shareholders....<br /><br />
Kitkateat again trying to defend the indefensible...AGAIN. Tell me where REDS has said they could potentially return cash to shareholders....it will NEVER happen. Those in the higher echelons of management in this pile of poo will continue to cream off large salaries at OUR expense. You are still utterly DELUSIONAL!!! T
kk, you are missing the point , I understand that investments can go up as well as down and I wrote my cash off long ago and luckily I can afford to lose what I have . A lot of the long term holders could not and got badly burned by the miss information and downright lies we were fed under COMS management.The current management are aware that this company (whatever they want to call it) is heavily tarred with the same brush and as part of their recovery plan (if they had any intention of increasing shareholder value) they should have ensured no BS is given and transparency is the watchword. If MB had a plan to "steady the ship then leave" he should have stated that intention at the start, not hand in his notice at the point when 80% plus of the company (that he had been telling us was strategically poised to conquer the world) was being sold off.
I am still hopeful that they have "a plan" , it would be polite of them to keep us informed and make sure that their PR company does the job it is paid for. Contempt is what I was talking about , which is how they treat us in my view
His son works at this company so he has not abandoned ship. Maybe that was always the plan he came in to steady the ship and then leave. Furthermore if they looking to grow it’s better to keep the cash they did state if they don’t spend it within a certain timeframe they would think about returning it.
Furthermore any company you invest in is a risk so u can’t blame reds f you loose money investing. Even fate shares do badly.
Sadly no !! I would like to ask these people why they treat their shareholders with such contempt, they must be aware that A **** load of people lost a **** load of money to this outfit under previous management and communication should have been one of the key issues going forward, yet they cannot be bothered.
All I can see at the moment is that MB has abandoned ship and the vast majority of the company has been sold off, they are sitting on a whole pile of cash that essentially belongs to the shareholders and not a word from them about what they plan to do with it other than pay themselves exorbitant salaries.I fully understand the rules on price sensitive information and insider dealing but this is the age of social media and they have a public relations company (that never replies to anyone) in tow, we do not want to go back the days of DB "bigging everything up", but their efforts (if you can describe it as that) are p1ss poor.
So if you are going Pete, ask the question, maybe we will get an announcement after the AGM, but not holding my breath. Anyone else going ditto, its a shame I have a real company to run over 200 miles away or I would ask the question myself
Anyone going to the AGM later this morning?
1.02 to sell
1.04 to buy on little trade
L2 shows only three little trades today , not much going on at all
to sell 1.00 but no buys allowed online
Totally irrelevant, as the new Ticker wil be SMRT.
Smartspace Software PLC
Or SSP - Is that not the name for the money you get for long term sickness?
Very well named as we all have SSP over here !!!!