RE: Am I missing something here?16 Jan 2019 23:32
I agree that shareholders here need to push AF for some clarity going forward.
Until AF lays out a plan going forward that represents something better than we have already, all he's really done is sell off everything that made this company attractive and ensured there's enough money in the pot to draw himself steady wage until he finds something better to do between now and oblivion.
The problem is, lifestyle shells are such a common occurrence on AIM. Directors draw a steady wage for a few months often after a belly flop while they are figuring out there career options elsewhere in the market down at the golf course. How many times have we all heard "looking for exciting opportunities", "In talks with several companies" yada yada.
If Angus wants shareholders to vote in favour of his suggestion he needs to spell out his vision going forward and prove to shareholders he actually has a vision beyond his own career unlike most CEO's.
If he can't provide shareholders with any reasonable prospectus for ABAL (The most generic sounding and idly made up company name I've ever heard I hasten to had), then IMO shareholders would be better off without him, if indeed he is suggesting he will leave should shareholders vote against the deal that's been tabled.
In short, until AF provides more information he's simply offering people the contemptible choice of voting against the retention of a company with an increasingly useful product, with a growing list of contracts and clients, but one which may need a little more funding in the future, in favour of a state of abject uncertainty, the potential for de-listing in the short term and an almost certain requirement for more funds in the future. At this moment in time it's hardly a difficult choice to make.