Member Info for Cliostock

I don’t think it’s an unreasonable line of questioning from Whackery, but what may the case and what it would have been deemed rude and cold to say, is that the new directors simply might not want to buy any shares yet. There does not have to be any other reason.

Alyson is a portfolio, specialist director, who cannot realistically be expected to buy shares in each company she sits on the board of, at levels enough to not be sneered at for buying a gesture. How much would she have to spend to achieve acclaim as having skin in the game? £60k? £80k? Imagine doing this over 5 or 6 companies. Rachael Parsonage may not know if she is around for the long term, would anyone join a share scheme at a summer job?

Both directors may be part of the 99% of the country that has no interest in investing in high risk, high return AIM shares. As an accountant with a likely good knowledge of personal finance best practice, Alyson might have all her money in a diversified ETF or similar, or be maximising her pension contributions.

I really don’t think the new directors not wanting to buy any shares yet is a bad sign. It shows they act in a considered manner, here to provide stability and calculated management, not clambering for easy wins, but focussing on fundamentals, as she said to the share price question. The share buying question did not end with ‘if not, why not?’, which may have yielded more information, but it may have been a clinical answer, of which I hope there is more to come.

But Whackery, what did you want? Yes the answer addressed the question. If you wanted hollow reassurance about how the directors are planning to tip in their life savings because the company is so amazing, you are going to be disappointed. The primary aim of the new board is not to be constantly positive or to say what people want them to say, it’s to be able to be trusted.

As the presentation was drawing to a close I suspected mixed reactions on the chat boards. Personally I commend the board on the focussed and no-nonsense approach. This will suit investors who see the value and are happy for the company to sail forwards on the calmer seas. I don’t think it will suit investors who treat following the company like watching an episode of Eastenders, or who need daily and increasingly positive reassurance from the board. This share is going to become more stable and far less happy clappy. It will suit some and not others. Positions will be readjusted both ways, I suspect the chat boards will have a little less to talk about, but most importantly, RNS’s when released should be surprisingly pleasant instead of impregnated with dread. I know what I’d prefer.

Shychap, how the revelation in your post about Hunt wanting to keep his job has angered me. It answers a lot of questions about how the BOD have got away with running things as they have for so long, no regard whatsoever for anything but themselves. Alyson Levett has done the right thing sticking the boot into Hunt, and what an imbecile for believing anything other than that would happen. Bring on tomorrow’s IMC!

Call me slow, but I’ve just realised the timing of the CFO announcement was made on the last working day before the IMC presentation. It seems too well timed to be coincidence. Completely unfounded, but it says to me that Emily Bertram blew the whistle and as such has been spared any humiliation, but maybe too late to survive the governance clear out.

……….. and TW is one!!!

I agree rebarm.

Financial questions will be answerable by the CEO. How many people do you want presenting an IMC before it becomes a farce. It’s obvious that they want Alyson Levett in there to discuss the governance issues and hopefully Rachael to tell us more about any potential she has identified.

I agree with your last statement Shychap, I think even taking the suspension time into account, the SP will be higher 12 months after Ashman’s resignation that it would have otherwise been had be remained in post. The journey in the meantime is academic. Onwards and upwards.

I think somebody said earlier in this thread, he believed his own lies. He’ll have confidently welcomed an audit and governance appointment to the board as he will have full expected to be backed up by her and supported because he’s the big cheese and what he says goes. How wrong he was, on many fronts. Let’s see the new team show us what potential this company really has.

An SBTX group customer*

Suspect it’s a Dermatonics or BTS customer which is now an SBTX group company.

Absolutely right Toyin, advice to the BOD is I think, too late. Leave them be, investors should support them fully and those not invested can have whatever opinion they want, it’s irrelevant.

I’m using Freetrade for smaller share purchases for the no fees situation. I’ve been trying to buy £10.10 worth of shares this morning to top up to a round number ready for any resulting share price action over the coming days. Order has been consistently getting rejected. Decided to sell down 100 shares to see if that went through and it was about a second before the buy was complete. Can any of the folks savvier about the ways it works fill me in on why I couldn’t buy a measly £10 of shares all morning even though the price has been fluctuating a little? TIA

All sorts could have been dredged up and the long and short of it is that SA fabricated the accruals documents, EB discovered that and did the right thing, and trading has continued largely in line. It mentiones the licencing income when discussing the 37.4% uplift in revenue. That’s got to be either Croda or Superdrug, most likely Croda. I’m sure we can look at further clarity about the revenue from Croda in due course but I for one am relieved we are not facing further issues. It was a misstep from SA and it was recognised and sorted, no matter how painfully. Bravo.

That’s not to be disagreed with Bubs, but the individuals that make up ‘they’ has shifted and hopefully with that will come change. We will have to judge them on that change when we receive the RNS.

I think the board certainly has an opportunity to regain trust. Probably not with the BB screamers but with the general market and sensible retail investors. But, if they don’t have what it takes, they will not be able to pull the wool over our eyes. We need a thorough deep clean to have been done by this investigation followed by some actual progress with the core business. If they can’t do both, they will be found to be incompetent very quickly.

Let’s hope so Toyin and thanks for your continued efforts.

It seems to be the mindset of the masses on both boards at the moment to criticise anything that comes from the company, so I doubt the big reveal will be well received. I think if it’s average/expected investors will pick it to pieces and admonish the BoD. Let’s just hope it’s thorough and gets us out of the woods so we can focus on growth!

A British Zenakine launch! Nice!

Shychap, all taking place under the leadership of Martin Hunt.

His name was seldom ever even mentioned for years whilst SA was, quite rightly, getting a swilling. MH obviously never had the skills to take any charge of those events and that has continued, with the lack of rational, sensible or progressive actions.

I hope the announcement clears him out so the new guard can draw the potential out of this company and our IP.

You can’t say he is wrong, you don’t know the information. Your guess is as good as his at this moment in time.