RE: Facts are always good.....7 Jun 2023 09:34
Thanks for posting Claire, and I am in total agreement that facts are far better to have than news vacuums, which is exactly the point I’ve been raising.
There has been an utter void of news around this recent succession of negative news events and those vacuums are the responsibility of management, and as your post highlights so strongly, the 'family' which are intrinsically interwoven.
Like it or not, when a company goes 'public' for funds, there are obvious consequences of increased scrutiny from that wider set of investors. Questions that those investors are entitled to have answered fully and honestly.
The facts in the current circumstances do remain highly important: let’s look at them:
1) Fact. The company currently sits at 40% of the value it was 5 years ago. And yet it is now, at these apparently bargain share price levels, that sees members of ‘the family’ divesting their holdings with no other ‘connected’ parties putting their money where their mouth is and buying them. In fact, only in the last couple of days has some sort of organised trading come about to transition share ownerships to larger private investors.
2) Fact. Tyson Anderson as Deputy Chair no longer has any direct vested interest in the Company.
3) Fact. Your sister, Amanda Farrar, continues to divest her holdings in Titon and is likely causing a ‘stock overhang’ situation even at these ‘low’ share prices. We won’t know if and when she’s finished as she is no longer above the 3% notifiable threshold. The initial drip feed of shares was nothing less than shambolic for someone, as you highlight, that is so closely connected to the company.
4) Regarding: “this should refute any accusations of “the only remaining major female shareholder selling all her shares”. You seem to have entirely missed the point. The point was the departure of Alexandra French in such an acrimonious way, (the second such questionable departure of the CEO from Titon in only just over a YEAR!) was going to create a news vacuum and speculation. There have now been three CEO departures in succession at Titon, a number that even Lady Bracknell would struggle to find a negative comment of suitable gravitas for.
5) Fact. This period of shambolic relations between CEOs and the ‘family’ management is the responsibility of the ‘family’ management alone and should never have been allowed to happen in the first place. Good management is about smoothing the operations, not breaking them.
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