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Newland clearly spoke with the guy; all the figures used are Newland's. Let's hope that he doesn't drop the alternative bombshell that he's not going to make the much-touted figs for current year, and was looking for air cover! if that the case, very foolish to hack off the financial pages of the Mail

After weeks of no news, suddenly the Mail carries a fairly extensive tip. Understanding the mechanics of this is important. Newland ahead of the AGM asks FTI , his PR firm to line up some coverage, and FTI duly obliges, landing a very positive article with the Mail, one of the leading reads for retail investors. The Mail will be hoping that its timing works well, and FTI would have worked hard to persuade them the timing was right. I dont believe in coincidences when it comes to cpr and comms. If I'm right, then as a minimum we'll get the usual Newland positive but detail-free AGM statement , but there's a decent possibility that he lifts his skirts a touch & announces some potential positive commercial news in the offing, or even perhaps a deal announcement alongside the AGM.

SP was c10p on March 7th.....4 months on, you can pick up shares at 6.6p, down c35%. And yet, we see no support at all from any of the management team at a price significantly below the last raise. Putting out RNSs that just affirm they are doing what they've agreed to do with TF, wont generate more interest; what will is a tangible show of support from the board actually putting hands in pockets and buying shares in their own company.....

DH,

Totally agree. Seems that they are going to deliver yet more pain with the update. Johnson continues to display to s/holders his serial incompetence as CEO. Blaming supply chain issues due to lack of cash takes the biscuit. Other have mentioned about the refusal to share pertinent information - for me that s a combo of Johnson's paranoia and refusal to engage either with his s/holders or his board (shielded by Bonzo Bundred) together with utter internal operational management & systems chaos. What is equally troubling, is that this is a small company - the communications chain is barely 4 levels to the board: shop floor - ops supervisors/management - exec team - board - so should be easy to get grip on issues. Indicates to me that Johnson can't take decisive action, and spends much of his time with his fingers in his ears/ eyes shut, terrified to admit he's out of his depth as CEO.

I fear that we will have another poor RNS: the Board & its advisers dont get do they? Telling us that figs are unchanged for 24 & 25 isnt the issue; the issue is that investors/OEMs/the market wants hard evidence of operational progress i.e quarterly updates that show stability & progress. And they haven't been able to do that.

What do we need to hear?

1. Scrap issues broadly resolved

2. No downward revision on already low end figs

3. Resolution of Chair position

4. Humility from Johnson

Verici is an excellent example of the complete hash that public markets are in in the UK: (1) stamp duty (2) disinvestment from UK markets generally (3) lack of incentives for UK institutions to invest in UK (4) massive over regulation (5) complete drying up of small cap funding................and all this underTory administrations

Biggest insider tho is still bloody CEO and will not accept personal responsibility for the failovers

Too bloody right .

Theme One: Bundred and Johnson’s lack of transparency has been the culture based on (1) Operational Incompetence hence the endless surprises (2) paranoid management style that delivers half truths and deliberate obfuscation.

Theme 2 : Collective management, NED and advisers failure. Seems clear to me that Bonzo Bundred ‘s version of events was taken as gospel by the 3 other NEDs, whilst the advisers either gave up dealing with Johnson whose ego clearly won’t brook questions or queries that raise uncomfortable issues.

Shocking indeed. Most shocking was the statement hat they're not sure they can meet bottom end of range given at time of OO. Easton appears to be the only competent person on the Exec team, and he's not on the bloody board.

The question to ask Johnson at AGM: "In light of the disasters of last 18 months,and continuing failure to deliver on expectations made to shareholders, can you explain why you think you are the right person to lead the company?"

Couldn’t agree more! I note the phrase “strategic progress” - always a get-out when one wants to not focus on the short term. Poor level of transparency Imb.

Not sure I agree, tho' with newland anything is possible. The institutions that back the raise at 15p will have needed considerable convincing by our puff merchant in chief Mr Newland to provide funding ifgthey knew there's more on the way in Sept. There cant be many scales left over professional investors' eyes where Newlands' track record is concerned. He has to deliver the promised goods.............starting with the bloody CY revenue forecast

Agree. The biggest issue remains Nero Newland and his big mouth! The Board seems powerless to hold him to account for throwing out forecasts without provides the smallest scintilla of evidence to support them. He has categorically told the market he’s happy with £6.4m (based on on discussions they had with the company) as recently as the FY results the other day. And yet he’s given a 30pc range for pending 1H results. How on earth is he going to make £5m in 2H? The total lack of supporting evidence is so typical of him, which then leads to more ii’s bailing out when he spectacularly fails to deliver. The latter has been set ages ago and Nero’s arrogance astounds me and others

Given the fact that the sp was stubbornly below 15p post announcement, £500k wasn’t too bad but a drop in the ocean vs the £20m annual cash burn

The standard of communications is utterly woeful. Johnson cannot continue to operate like this - its utter chaos. Surely Haddock, the Board and Johnson surely must realise that stating that a furnace is now kaput would traise significant questions? And yet, they put out the statement. What a bunch of complete amateurs

I think that the OO take up will be small, which should be seen as a rebuff to Newland's approach to leadership. Too many have been burnt by wild forecasts that are not anchored in reality. Do you seriously believe that at the half year stage with 1-1.3m in the bag he can seriously hit the £6m+ he predicted?

The questions are piling up for our managemetn team aren't they!

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So Aristidis Eleftherios Anagnostaras-Adams aka Pinocchio has moved AGM to Ethiopia! Quelle surprise....do we think that Winnifrith is invited (and is currently sorting out his visa stamps) as a freebie for his continuing support of Adams? With 6 billion shares in issue and likely counting, just as well share certs no longer held in paper form..Adams would need the Isle of Wight to store that lot

Worth skimming through the Annual Report published today and now on website. Largely a cut n paste job form the results announcement tho' Griffiths's financial review provides more colour than I was expecting.

Very different animals - SCE has current sales, order book, OEMs.......Saietta had Tony Gott and his forensic eye...we have Bundred :)))

Exactly Damay. This cannot continue - Johnson’s pathological lack of candour is killing the company - he is just not equipped for the role of CEO: secretive, disingenuous, stubborn & paranoid. Surely, the furnace should have been revealed alongside all the scrappage stuff. Wtf is the Board doing ? Why does it take auditors to force the issue?

Ludicrous RNS, akin to Ryanair trumpeting that your flight has arrived on time …..not impressed, suggests to me that they’ve little else to teport