Thank you PepeT2. So a fairly significant protest vote, not entirely surprising given the feeling before the meeting.
I find your question a hard one to answer Junior. On one hand I am with Notes in saying he cannot do a lot without the technology being ready. Also I think he has shown the drive to direct the company forward. He set and largely delivered tough targets initially, and then found they needed to redesign the product. He has taken a few paradigm shifts, on De Nora, likely customers and different products, etc, which shows an ability to think on his feet.
On the negative side he has not been straight with us about timescales, or chances of success. I really want to know what he understands by near term share holder value. I could live with his exaggerations during the Lanstead phase, which reduced dilution, but I am still sore about the price spike in the autumn of 2017, based on misleading statements by himself and other Directors, when in reality the company knew there were issues with the stacks that had to be resolved. This followed by a long period of silence. Was this to give a return to Thalion after their first investment? Or perhaps De Nora. It is the only plausible explanation I can come up with, but would be pretty shabby treatment of private investors who were encouraged to buy into a false story.
On balance, I would just about keep him, though he has lost a lot of credibility with me. We are where we are, he does seem to have a plan. Let’s see if he can bring it to fruition this year. If it is another year of no communication or results he should go.
I have no idea chippy, and I don't think it is a constructive or fair approach to speculate on individuals on the net.
If the company has any sense though they will realise that there was a melt-down in investor confidence over the winter that came to a head at the AGM. They need to maintain dialogue with true iinvestors and I hope they are giving thought to the the suggestion put to them at the AGM of a further meeting with share-holders to maintain confidence.
If you look at the delays they have come about as a result of not having a decent reliable stack. Yes, the original focus was on the large systems, using chlor-alkali hydrogen, however they were never going to work with the issues that became apparent with the first Kore prototype. And the key issues, as far as I understand the situation, were with the stacks. Used in both small and large systems. As they have been resolved the non-issue with diversity is being revealed. The system going to Southern is quite different in application to the ev charger.
Otherwise it is difficult to comment on the subject of bad management without having experience of working in the company.
But sadly the delays are not due to the board being unable to close deals. It’s about the company, and it’s suppliers, producing reliable products that work efficiently. The manufacturing deal with AP is evidence that one of the roadblocks is being removed.
RE: March 2018 final results - Rennocks statement18 Jul 2019 22:52
Evening Daz. Yes, the first post from you this evening is clearly a case of Bond indulging in fantasy.
As for your second post, I will remind you that AFC teamed up with Southern last year beginning the process towards initial commercialisation. They were also saying in spring 2018 they were heading for work on manufacturing. They did not say at that time they were planning to redesign the flow plates.