Where are we?15 Jul 2021 09:14
I have just re-watched the last few proactive videos and re-read the last annual report along with the last few corresponding RNS's. My investment here appears to be akin to paying for a cruise and then the ship ignoring the itinerary and visiting different ports to the ones advertised and paid for. I want to be positive; my money is in here. But I am at the stage that I fully expect little or no communication from the Chairman again for another year or until he needs something else, little or no communication from the rest of the BoD, until their hand is forced by regulation to impart information and the most galling thing is that any such information will within 4 weeks of announcement change or only be partially correct. I want to be positive here, but it is blatantly obvious we did not get a JV because we could not. The larger loan argument goes against the annual report explanation of funding less than 3 weeks after it was published. I want to be positive here, because I want me to enjoy the rewards of my investment and not fund others lifestyles. To the BoD (from a shareholder), as we are obviously not even going to get a Zoom or other interactive online meeting: SML is the sum of your decisions and actions. You have bled the shareholders with abysmal performance. Rather than complain about the sentiment and comments, face us and explain why we should have any faith in you given you past performance. Give us a reason to stay invested that is still actually the same reason in 3 months’ time and not some reshuffled version. I want to remain positive here, but you the BoD need to restore the trust if you can. I will go back to something I said a while ago, if a manager/director in most companies made the errors and reported to shareholders the way you have done, they would no longer be in a job. We all accept things can change and the unexpected can crop up, but we pay you to steer us through this and not to trip over every single hurdle. Sort it out quickly and professionally.