Member Info for Fevertreeman

The question is why does BG want out? Devastatingly simple answer: they have completely lost faith in Newland, Griffiths and the Board. Newland has totally destroyed investor confidence thro a stunning combination of incompetence, arrogance, greed, stupidity, hype, naïveté and intransigence. Newland has treated his shareholders appallingly - BG only bought in at the 80p raise less than 12 mnths ago and clearly feel Newland legged them over.

Staff morale must be completely through the floor realising as their management team continue to demonstrate they are totally out of their depth. I feel really angry about Newland’s arrogance and greed.

SO AGM statement says we're still not out of teh woods on production issues! So they resolve the furnaces issue and something else pops up. They really really need to get to grips with this. The share price has gone nowhere for ages, and Bundred again comes out blithely as if to say nothing to see here , move along. Well David, you really do need to get your team together pronto and sort this out, otherwise s.o will come along and buy teh company and do it for you. Very disappointing

AGM is next week

Selvey has been Newland's dream chair- a nodding donkey

Not what I meant.....clear that a big investor has taken a decision, or taken fright, ahead of the AGM next week. Newland has a massive credibility issue, having stiffed s/holders with a rights issue that has seen most lose 70 -80pc in short order. Th Board is a s+++ show, with no handle on what to do. Rapidly becoming a cash shell

S/o knows something....this has come out of the blue together with volume sells

The failure is not the product BUT Newland, Selvey, and the rest of teh board. Truly shocking state of affairs, compounded by dreadful communications with shareholders by Newland, walter mitty forecasting, a seemingly complet lack of preparation or discussion around commercialisation, and a 'profts warning followed by egregious options package to architects of the value destruction

If there is price sensitive information about that has triggered this sudden share price movement, I would expect the company to issue a statement if the sp movement is +/- 15pc....worth noting that there are 260m shares in issue & 2.1m shares traded to dated is less than 1pc.

I think there are a number of factors including lack of interest in small caps esp long duration concept stocks arguably like SCE which dont have big revenues, earnings or dividends and where cash & capex is an ongoing issue.

But I think the biggest issue we face is that management previously seen as highly professional blotted their copybook (1) the raise at 40p (2) the 'profits' warning (3) the operational problems they've encountered.

As a result, non-holders looking at investing are holding off till it is clear that Kevin can deliver scale without more issues, manage the growth, and deliver some big contract wins....

They have consistently hidden behind the lie that there is a conflict of interest in NEDs purchasing shares in the company. It is seriously one of the biggest misalignment between management and shareholders I have seen in my professional finance career. The consequence of this is (1) No economic interest in the company (2) No interest in holding Newland to a/c (3) No understanding of how s/holders would react to the dreadful options package the REM Committee proposed.

Take a look at the Annual Report to see just how dreadful the siutation is:

- staggeringly GROEN , NEW CHAIR, owns ZERO SHARES . In fact, he has never bought a single share in the entire time he has been on the Board.

- SELVEY's 16 YEAR TENURE AS CHAIRMAN - total shareholding in Angle = 50,000 shares, equivalent to buying c3000 per year over that time period. Current value of holding £6,500

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The man was on the board as chairman for a staggering SIXTEEN YEARS .....just before stepping down this was his sign off on the Group's results on April 21st:

"We are pleased to see that 2023 has started strongly and look forward to continued commercial progress in the year ahead."

I mean what sort of idiot makes that statement...Selvey the share price has virtually halved since then !!!

Newland's genius for destroying value, ably assisted by his utterly useless Board, continues unabated. He has managed to turna supposedly world class medtech company into a cash shell in record time4, destroying shareholders and employees wealth along the way. It is increasingly clear there is not international pharma company wanting the tech, and certainly not on the commercial terms he thinks it can command. Why bother negotiating with this buffooon when shortly you will able to buy the tech for nothing together with a handy amount of cash after s/holdrrs have blown tens of millions supporting the development thanks to Newland.

Newland continues to deliver SFA.....as telling is the total lack of director purchase....with NEDs hiding , as the hopeless Selvey & others have done for years, the canrad that there is a conflict of interest. Woulds be hard pressed to come across a more deluded, arrogant, & amateur CEO than Newland, and equally hard-pressed to find a board as utterly supine, and full of time servers as ours.

Completely agree. Newland and Selvey ( who scurried off w/o an apology to be replaced by an existing board member who’s equally complicit) are a textbook example of how not to run a listed r&d led company: ceo allowed to run riot & hype-hype the prospects; apparently little forward planning or strengthening of management or board till too late; Walter Mitty forecasting ; poor expectation management; no board control of remuneration ( the option package is obscene), and this is the result! Selvey should stand up and explain why has gone wrong since he was chair for so bloody long.

Will Selvey explain why as chairman, he thinks this company has a bright future? Wll he explain why the share price has cratered? Can he explain what the strategy is...does he even know what it is? And as for the blusterbuss Newland - the market has his number as do investors. At this rate of decline the share price will be at zero by Christmas.

so here we are with us markets on a total tear esp nasdaq, with tech stocks all the rage (admittedly in the ai space), and despite fda approval, nero seems incapable of (1) monetising parsortix beyond tiny research outfits (2) articulating a coherent strategy and (3) running the company professionally....

evidence for assertion no 1: no revenue figs, no h/hold names partnering, no idea of pipeline beyond his absurd assertion about we're talking to 20/30 possible partners....

evidence for assertion 2: the share price and the exit of serious institutional shareholders

evidence for assertion 3: failure to refresh an incompetent board of directors compounded by utter failure by nero to strengthen the management team until......selvey jumps ship to be replaced by another facsimile of an ned & existing board member.

newland has been running this like a corner shop for ages (every strategic or operational **** up has been his and his alone...whilst spouting constant hyperbole). fuinally when the sp is on its knees he reluctantly appoints managers who should have been on board way before.

there are some useless egotist founder /ceos out there in small-cap land but nero is certainly a premiership contender for destroying value...alongside management at joules, purplebricks and a few others

Spot on.....ultimately, assuming there is demand for your products or services, it comes down to leadership and stewardship, as per every company. Unfortunately we are bereft of both....hence the share price.

Back when FDA approval hit the wires Newland, unrestrained by his useless board (yes, you Selvey et al) hyped to high heaven the numbers of conversations with potential customers...30+ . He deliberately gave investors the impression that this would lead to meaningful revenues etc flowing. His inability to keep his mouth shut or provide sensible guidance led to (1) the disastrous Jan RNS (2) loss of confidence in management, and the subsequent fall in share price.

Since then we've had the LTIPs fiasco, Selvey spinelessly slipping out the door only to be replaced an existing board member. As if the governance weren't bad enough, the commercial front seems mired in disappointment.

Instructive looking at Atios website for the following reasons:

1) Quality of the Board (compared with our own) bolstered by presence of top end VC fund representatives

2) Ability to raise funds: series C funding of £110m summer 2021

3) Galaxy of investors backing the company (Arix, IP, Schroders, SV, Pfizer etc)

Given Newland's desperation for newsflow, odds on that the contract deal struck would be in Atios's favour...i.e. sod all revenues to move the dial.

Selvey has been an unmitigated disaster as chairman, and should have been pushed out years ago, but clearly it suited his and Newland's book that he stayed way after good governance dictated. He has done nothing to ensure alignment with shareholders interests (look at the LTIPs disaster), has failed to call Newland to account, and failed to make any attempt to interrogate the company's commercial plan. And now having presided over a disastrous share price slump, he just sneaks out of the building. But have no fear, we have a replacement for him...yet another NED who has been around since 2018 and is equally culpable for the shambles at Angle: no proper holding of management to account, rewards Newland and CFO LTIPs for failure, failure to challenge Newland over commercial planning, etc etc etc

Newland must clearly think all teh shareholders are idoits, and as for Selvey....no words are suffice

Finally I sense with Copeman's appt that we have a top team capable of radically accelerating the pace of development. The valuation is woeful for a business supposedly consolidating a fragmented sector OK they've been hit by Covid and last year's drought, but the impression I've had for a while is of a deeply conservative risk-averse board lacking dynamism & just content to plod along. Even the FY results outlook hardly crackles with excitement or inspires confidence. This is about to change, and I think the new team will make a big difference. Copeman is a turnaround specialist - build & sell - and I think his appointment is a recognithas been brought in imo to ultimately sell the business .