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Come the end of April, our CEO will have taken £100k in salary in 2024 thus far and has not addressed his shareholders.
Since the last patient was dosed with SNG001 in Nov 21, our CEO has taken c. £750k in salary.
We still have no clear path to recovery. The salaries continue to be taken and the silence continues.
NICE ONE DICKY
What's positive?
Our CEO stated in an RNS of May 2022 the company was focusing on new trials.
Update then reported to advise trials would start by end of 2023.
Further update to advise trials would start by end of H1 2024.
Since then no update directly to shareholders.
Can someone explain the positives? Am I missing a company update?
The attitude of the company is either
1) F U to the investors
Or
2) They genuinely believe they are doing everything the correct way.
Both options are incredibly worrying. There is no middle ground it is either 1 or 2.
Mani - not sure if your post is directed to myself or someone?
The company have not provided any updates for a long time and that still remains the case.
Dick Marsden will only provide an update because the regulator tells him to publish full year results. He would be hiding in his cave otherwise.
The man who asked for £85m is now camera shy.
Handholding don't invest. - what nonsense. RM was on camera pre £85M inviting shareholders or interested parties to contact him directly with any queries.
If I was CEO and I had many PIs requesting an update I would feel morally obliged to provide an update. This is people's hard earned money that pay his wages. Throw in a collapsed share price of 97% then I would be morally obliged to provide regular updates to win back people's trust.
RM and the board are on a different planet.
8-10 weeks to wait for full results isn't that far off. Waited long enough.
Interested to see what the now camera shy Marsden has been up to. Front and centre of the stage when he wanted £85M.
We all know what type of guy he is when things get tough. Well he will have to come out of hiding soon because his regulator tells him to provide an update!
£600k plus in salary taken in last two years by the CEO and rising.
April 2022 - work started at haste for new trials.
March 2024 - No concrete trial plans in place and any updates are lacking in detail.
The CEO has to be working on blockbuster deal
/ trial to justify millions spent on overheads in the last two years.
At present, it couldn't be any worse for shareholders:
No products
No confirmed trials
No updates
97% collapse in share price
SNG001 last used in a trial in Nov 2021
No income stream
This really is a tough share to be involved with.