RE: Suspended in the US15 Jun 2022 19:32
Customer Relations and the BOD
Possible suspension on the LSE and in the US.
To be honest, prior to this invasion the BOD should have had in place contingency plans, they were caught with their pants round their ankles. To sit on a board of directors, and see your share price plummet by 90%, well to be honest they should have all been removed immediately. It is totally embarrassing, as like today’s share price; to sit on a board and see your market cap equal half years earnings, is really embarrassing. With no action apart from a few squeaks like “we may split the company”, and we will review the dividend policy come August. The market does not like these noises; they come across as disorganised chaos.
At the beginning they would release an RNS stating all is well, the dividend will be paid, the money is sat in the bank ready to be paid. The long term investors who bought in with good faith at £12, £13, £14, £15 or more thought okay, we will stay loyal, they will honour the dividend. Only then to be told that it will be suspended under discussion, using some lame excuse that the holders of MOEX shares could not be paid in full. Hence 80% of the shareholders are positioned on the LSE, so could be paid.
The split noise disappears, loyal holders do not sell at 400p, the profit brigade sell out, the dividend gets cancelled, and the share price falls back 212p to where we are today. Possible suspension on the horizon, money locked in for how long?
What a cluster f*ck, the BOD should hold their heads in shame, they have royally f**ked the long term shareholders, they are up to 80% down on their capital investment, and have lost their dividend, not the interim the dividend, the main dividend. Will it get paid this year, will they claw back their 80% lost capital, gawd knows. But from what we are seeing in the markets, confidence is not being mirrored in this share price.
I joined this party late, sub 160p, but I feel for the long term holders in here, because their interests have not been very well looked after.
Felt like this for a while now, but, well seeing today’s price action, I wonder if there is anyway back for this company now.
They look like a drifting boat with no anchor...
They really need to do an RNS, split the company asap; pay the dividend, and make some positive noises to move this share price.
I have sat on boards, it's your job to protect shareholders, not ass whip them. It's like some BDSM horror movie watching this SP.