Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
AS needs to take note at what has happened today at Coro where 73% of investors have voted to remove the CEO and he has been forced to leave to company. Smith has currently lost the retail investors and needs to turn things around and regain trust and quickly.
Brilliant news. Need to get rid of him at Echo too. Bring back James Menzies and this will fly was suspension lifted.
Someone below told AS to stop being a greedy T**t and put shareholders first. I kind of agree with the sentiment but I think it goes further than that.
We have an incredible piece of science. A fantastic opportunity to help patients with little or no help. I personally have a friend who has a terminal diagnosis and only a short time to live.
So I say for gods sake AS stop thinking of Avacta as your baby, stop being a greedy gut and recognise that the science needs to be placed in the hands of big pharma to speed up the process of licensing deals ten fold. What you are doing is too slow and it is is possible you will rue your decision as retail investors have long memories.
Why did you restrict new retail investors but extend the placing to institutional investors who will rinse the shares at the first opportunity
Poor very poor AS
I am a shareholder and until yesterday a big AS fan but he has misjudged the market terrible.
AS could have raised this amount from existing retail investors at any time since December at a much higher price with far less dilution. I appreciate he would have issued a prospectus and that takes time, but he had the time. He has just chosen to remain silent for three months.
I very much respect his worth as a scientist but sadly I think the company needs a new CEO to take care of finance decisions and communication.
All that will happen is that the vast majority of placing shares will be forward sold and why wouldn’t they be at a discount of 34%! Who will snap them up or who snapped them up. Yes us dopey retail investors.
AS needs to explain to us investors whether institutions are tied in for a period or if not why not.
Yes he now has the funds and the science is great, but sadly he has lost the trust of the retail investors which is massive on aim!
What is happening in Japan Angus? Why no update. Clearly it can’t be pulling any trees up or Angus would not be predicting a loss.
The AGM is 26 June at 1.00pm.
Resolution 1 is to re-appoint Martin Hull. This is an opportunity to remove him for anyone dissatisfied with his performance and his rather inflated salary, which will sooner be higher than the market cap ffs!
I will be voting against.
Let’s look on the bright side.
At least Lombard are going to lose their money and Martin and Parsons will lose their cash cow lol
Now is the time for Martin to lower his salary to a less ridiculous figure more commensurate for a company of this size
One thing is for certain. This share price ain’t going anywhere until Lombard are out! I have seen them do this with so many shares over the years and yet companies still do business with them!
MH says that if the international exchange rate used that the creditors balance could be as low as 5 million $ as opposed to 9.3 million $ which is a huge shift down from the 12million $ as at June 22. Food for thought and does look positive.
Taversham, I do not want communication for the sake of communication but for gods sake Easter is one of the major trading events of the year. The interims were published early March then no trading update until 19th July. This is a major opportunity missed. AIM hates silence which is always viewed badly. Every other confectionery business I have invested in always provide trading update post major events like Xmas and Easter. Poor communication is not strong leadership. I take your point completely about USA. That said if we could see it why couldn’t Angus and his team. There is much wrong with the trading set up at present. The online platform is poor. The stores are poorly stocked. I went into my local store in Sheffield only to be told ‘try online’ we don’t stock it. People were on here in the heatwave saying they didn’t even know hotel chocolat sold ice cream. Basic things need sorting. Shareholders want to see progress and a return. Fingers crossed he turns things around this coming 12 months but his international track record is not good and he has lost a lot of shareholders confidence which is why he should hand over the ceo role
Taversham, you are entitled to disagree. I too enjoyed the tv program but to be honest I didn’t see a strong leader. He has made a series of blundering errors in his international strategy. Decisions to go into Japan and USA were always going to be disastrous. USA in particular seems to have lowered the quality of products on offer. Perhaps it is just me, that is not a fan of peanut products. Time will tell. I am happy to be proved wrong as currently am losing money. When I bought 5 years ago I was expecting growth in both Uk and Europe and looking for a dividend and £8 a share. Instead I got no dividend, no Europe no communication and a fall in share price. What happened to that ridiculous van in an earlier tv series. Why is it not isolated in the accounts. Does it continue. If a success why did he not introduce more. But my biggest concern is why is Angus so reluctant to meet and communicate with shareholders
Plenty to be positive about, but Angus needs to explain his new International strategy and some of the messages in the RNS that appear garbled on first read. Interesting that he thanks everyone bar the shareholders who he treats with contempt which is clear in his lack of communication. I look forward to being able to question Angus, but overall feel the business has outgrown his capabilities and feel he should step down. We are unable to oust him due to the size of his shareholding.
WTF are they? Last communication 29 September and I think they were already late. Angus really needs to improve his communication with shareholders which is appalling.
I think the message that clears up the confusion (if there were any) regarding production, appraisal and evaluation is contained in the RNS of 26 July when PH said with regard to the well “we hope will deliver material production growth and further cash”. It seems pretty clear that whilst the company is seeking to evaluate the contingent oil reserves of 200mbls in the lower Eocene it is also seeking to produce. With this in mind I am positively encouraged by the announcement contained within this weeks RNS that both oil and gas have been successfully brought to the surface. Hope that helps GLA
HeresHopin - I think an extra one billion shares at circa 9p is a small price to pay for effectively an extra 5% of what will probably become a 20+ million oz discovery in time. If you do the maths 5% of 20 million is 1 million. One million oz’s at a very conservative £1000 an oz clear profit = one billion in profits plus we have the added bonus of considerable expertise and a board that will be the envy of the industry.
Forget any thoughts of share consolidation as I can tell you from experience that it never ever benefits shareholders on aim, but I do agree we have a ridiculous amount of shares. We have Parsons to thank for that with the mess he left!