RE: Sound shareholders18 Mar 2018 15:54
Gemstar does make a fair point about Masterman.
This has, for me personally, turned from a interesting value play [albeit with modest assets and income] into "lets just trust James Parson" and "its indonesia which is growing", neither of which fits my investment criteria.
As of where we sit now, the reason the SP is decimated can be attributed to a number of things.In no particular order.
1. Bezzecca reserves downgraded [sneakily as well - hidden a CPR that was never RNS'ed] shameful IM. Bezzecca three earmarked for early 2019, now delayed until 2021 - if at all [again hidden in the non RNS'ed CPR!]. This has undermined credibility in the new BOD. Tied in with this is Masterman "doing one", it feels like its a case of a rat leaving a sinking ship.
2. Dealmaking - Woeful. Why not leave it suspended until you are sure what your plans are? The whole affair has been comedy. Wheeling out the "new FD" at the recent event was also hilarious as he was totally out of his depth. Where was the CEO or Parsons to take the tough questions?
3. PR and treatment of SRON retail investors - The girl who does PR and her network indicate this is not the sort of business I wish to remain invested in. As a SRON retail investor, who commited a large chuck of cash on the basis of what MM said, if feel more than just let down. I feel legal action could be warranted!
4. The PO valley experts calling this a bad deal of their shareholders. What does that tell you about SOUs assets?
I am one very angry shareholder.