Email to Colin King14 Jul 2020 08:37
Hi Colin,
Firstly, the RNS below is inline with market expectations, thank you and a good job.
However, the reason for my email is to share with you my fears that the company is being severely damaged by the completely unprofessional, boarder damaging PR that the company implementing.
Whilst I can completely understand that there is a need to mange expectations, the sentence in William Rhodes’ statement will bomb the share price and investor confidence beyond belief.
‘ we are rapidly developing new tests, together with our partners, for COVID-19 that will need to be made and sold, ultimately, in the hundreds of thousands of units, if not millions.’
Why on earth would anyone even entertain the idea of managing expectations is such a was as to suggest that there’s only a chance of millions of tests being made, after a significant placing of £11m, when the placing was made to ramp up production?
I’m sure you’ll receive a number of emails today regarding this comment, but I urge you to reconsider the use of Walbrook PR. Shareholder value is being completely eroded because of poor PR, and this can not continue. The company is in a good position, but it could be undone very quickly with a continuation of the relationship with Walbrook PR. I’ve voiced my concerns to you as recently as last week about their poor attitude towards Private Investors, and now we have this.
I wish you luck at the investor meeting today Colin, I will be joining and fear it could become very uncomfortable when the subject of PR is raised, as I’m 100% certain it will.
Kind regards