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I think that answers your question Aquae, of why aren’t they buying. I, similar to you, topped up in the late teens with over 40k shares on top of what is also my largest holding. I would have loved to have been buying now instead of then but we weren’t to know. I for one though are not surprised we are in a bit of a share buying vacuum at the moment. To be blunt, I think investors are waiting to see if SA is going to back up his enthusiastic mouth. I get what you are saying and I do agree, but people are not buying and it is what it is.

I’m working from memory here, but didn’t he say by the end of this year “if he can get the lawyers to move their pens quick enough”, or something to that effect?

Bel nice to hear from you again. I do hear what you’re saying and of course that is a risk here. Investors could, in theory, end up penniless and if it takes another 3 years SA is 1 million richer. That is a harsh dose of reality most probably choose to ignore.

However there is lots more to this than current sales and you know it. By running 5 pillars, SA is essentially running 5 small companies. Any one of them could yield some great results, and we don’t seem far off that with Croda.

I think it’s natural that with the SP at this level investors are nervous. SA has signed himself up to a fairly tight timescale to turn the ship to the right direction. Let’s see how he gets on. I for one won’t be still here in 3 years if early 2024 is a damp squib, like the previous 2 years.

Let’s just see if SA manages to transform the company over the next few months like he says he will. I won’t be letting him off that remark. We as investors cannot take any greater guidance than from the word of the CEO himself.

PGlancy, TW did not provide unvarnished facts, he merely provided an opinion and a very strong one at that, and one which has not done the company or the SP any good at all.

He had some brilliant points but put them across unprofessionally and in such a way that would naturally make SA disengage with any debate. Hopefully Elricos update will balance the playing field showing SA’s side of the topic so we can make our own minds up.

Looking forward to the update Elrico.

I hope SA has some realistic insight on what is going wrong here, and doesn’t just whitewash. I believe in the company and hold my faith in SA to transform the company during this year and next as he says he will with his pregnant pipeline etc, but it is concerning as an investor when the only pipeline we actually see is the drain our money is pouring down through dilution, no tangible progress and a waining SP.

Because of this I am becoming increasingly concerned that at SA’s current salary, he does actually stand to gain the longer he can keep this ‘imminent jam’ situation going whilst his investors lose. It’s not an accusation at this stage, just a concern. A growing concern.

Glad the results came out on time. No clangers, which is great to see. Let’s see what the rest of the year brings which is so transformational. GLA LTH

Aquae is right it’s about credibility, saying something and doing it. The release of results are very much in Ashman’s realm of control. I’m confident they will be released after 4pm today. I can’t see how he could possibly let such a simple slip happen. We know roughly what the numbers will say, it’s the footnotes we are looking forward to!

I can’t see a podcast between TW and SA ever again. Not unless SA pulls off some real super achievements and wants to rub TW’s face in it. I hope he does. Starting with an above market expectations RNS tomorrow featuring a footnote about our developments which puts a mild flame under the SP so we can start heading back to where we should be.

However as with companies of any size, it doesn’t look great if the accounts go in on the week of the due date. It implies a rush and thus disorganisation.

Fantastic to see a new institutional investor. This is the type of thing I really like to see happening. I thought our management used to be great promoters of the company and I had felt that had dropped off recently. I’ve shown my support for this good news with the purchase of 46,320 shares this afternoon.

NickE, well done for taking the time to put together the posts which were well reasoned and coherent. You basically argue a point which I’ve always felt was the only real risk to me as an investor in the company. I had no intention of going into it, but I will speak up in agreement of you as I’m sure there will be others that disagree. The risk is that the information we get from SA doesn’t necessarily represent reality. This has happened before; we are all hyped by words from the horses mouth, only for there to be something that clatters the SP, and we are told it’s for the best. I don’t think he is intentionally doing it, that wouldn’t make sense, he has the options to go for. However the way things are presented can be clumsy and sure enough, the retail investor suffers, having bought shares that immediately get wet.

All that said, I must acknowledge this just may be nonsense, and if he has been 100% honest, it has to be. Only SA knows that, there is no way for us to know yet. He’s got until the end of Q1 2024 for me to prove if he is the man I have given him the credit to be. He said he will transform the company by then, and we will be moving at a pace most won’t believe. If that means a small acquisition which he then starts classifying as ‘transformative’ when it isn’t really, then I’ll have my answer.

Glass houses and stones, TurtleHead.

I don’t necessarily agree that we should revert back to a distributor strategy or that even that was the right thing to do at the time, but I do think your post is well thought out and makes some fair points Nick.

The onus is on SA and he hasn’t given himself very long to make good on his promises. A 3m placing for the same stuff as last year and almost a third off the share price to do it isn’t transformational. He’s got to show us what is and until we know, I don’t feel in a position to judge his decisions.

Certainly unusual, and as much as I will remain positive, not everything is adding up here, metaphorically. However, regardless of our opinions, which compared to Stuart’s are certainly uninformed, Stuart has given himself a short timeframe to transform the business such that we won’t believe it. Come the 1st April 2024, it will be easy to be the judge of if SA is an astute businessman capable of planning and executing.

That’s an interesting one Mol

Exactly Toyin, some need to realise what business they are invested in. If Tesco or Lloyds Bank had to do a placing then yes that would be cause for concern, or if an aim company had a placing to keep the lights on. But how many times does the word accretive have to be used!!

Any placing will be necessary for the growth plan and the minimal number of new shares possible will be issued, otherwise SA will be swimming against his own tide regarding the earning of his options. There will be no need to say I told you so TH, nobody is doubting it could be true. In fact I think most are positive about it to get done what we need to do.

I think he did a bit more than almost tell us Oleric, I thought he was certain of transformation, moving at a pace most won’t even recognise, or something along those lines.

Well TC, we were told to expect the unexpected.