RE: Yesterday's presentation/Q&A19 Jun 2024 10:47
its no wonder alpha recommended this to ken wotton at gresham as being their best competitor! having a right old giggle about that one. i thought the new board explained the predicament quite well .the impressive cash balance on the books is to satisfy regulations and not cash they can spend. they had the choice to borrow which would have been difficult in the circumstances so dilution was the only option. they have identified different segments in the market, the priorities of which change according to market trends and factors. they were quite open about the need to modernise and update which was a bit of a shocker as i thought that is what they had been doing for the last 2 years. one of them blurted out it would be 36 months before there was a chance of reinstating the dividend, which ergo suggests 3 years before they make a profit. that is not what the market was expecting to hear very honest though and prompted a quick ruffled intervention from his colleague. a bit under rehe****d i would suggest. unfortunately and incredibly i am left wondering which one if any really knows wtf they are doing. possibility of working with other companies? ermm, best of luck with that one