Message to Board of Directors14 May 2020 19:25
Everything I say is in the context of recognising the excellent work the company is doing in making a huge contribution to the worldwide challenge of covid-19.
Today, which should have been a day of milk and honey, turned into a disaster. The reason: a rns which focused on the great work of the company; but which failed to bottom out the numbers actually involved.
Recent rns(s) have bemused me, bewildered me, and today distressed me. Each of these rns(s) gave positive information about the direction the company is moving in. But each rns failed to give the figures involved, and these rns(s) led to no impact on share price or a reduction in share price. The common factor was the theoretical information about where the company is going, but this information was received by the market as MANANA, MANANA, MANANA.
In essence, the very positive message of the information provided was undone by the lack of detailed information on:
The capacity of the outsourced manufacturing
The relationship between capacity and the demand for the product
The potential demand for the new form of test
The impact of the new form of test on the demand for the existing test
To the Board, please think carefully about how your very positive messages are being received by the market and pitch your rns(s) accordingly.
But please remember, all in the context of doing a great job in contributing to fighting this dreadful virus.