The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Another month passes with no progress despite so called financial & legal experts running things.
This sham company should've been investigated years ago. A farcical company structure being paid thousands for zero return.
When will the FCA grow some & stop businesses like this promoting themselves to investors? There is no other sector like this!!
Wish some of the other wasters on the BOD would follow suit!! Despite their expertise all they have contributed is expense but long term holders are wise to this now. This news makes no difference at all. AST may as well have a University trainee running the business. It is an obscene Con & nothing more.
James Parsons has no credibility whatsoever. So AST holders don't heed his words that we are at a critical point for anything. When will the FCA grow some & take action!!!
Hi Zoggz,
Glad to hear that you're still managing to keep an eye on the fantastic progress this company is making!!! LOL.
Personally, as I have stated previously, the BOD are under no pressure to progress anything as they're all drawing salaries. The market isn't even performance based as these guys just keep getting these jobs without any successful track record.
Beware of anything the BOD state verbally as they're all well trained in PR. However, the lack of progress anywhere is DEAFENING!!!
Winnemandala,
Who are we but mere investors!!
The BOD are dealing with many complex issues apparently. No progress has been made anywhere - they're apparently doing all they can - while earning astronomical salaries to drain the business. Oh of course, on a part time basis.
Some people must be doing ok out of this farcical situation but it certainly isn't investors!!
In my opinion the company would be in a lot of trouble if a journalist had delved into their past activities. No actual progress, ridiculous renumeration, constantly picking up complicated projects. In my opinion this is just a distraction to take advantage of the situation while drawing a salary.
Gas prices have gone mad & AST still haven't finalised a legal challenge on their Slovenian legal claim.
All designed to draw things out - many potential investors can see this now. The BOD despite what they claim, are judged on share price performance. However, due to the ridiculous out of proportion salaries & lack of regulation they can carry on regardless.
The lack of regular RNS updates demonstrates their performance. If anyone doubts this then look at the lack of activity & progress in the other companies the BOD are involved with.
No doubt that the loonies have taken over the asylum in Slovenia! However, my problem is that the BOD do not appear to have made any progress anywhere since they came in - I'm sure if their roles were performance related then they either wouldn't have taken on the positions or would be making considerably more effort!!
Scenicview - I congratulate you for at least approaching the authorities - it really needs news journals to get involved to get anything moving.
My sincere congratulations to the BOD for another week of fantastic progress (anywhere!!). I'll leave it to other more motivated contributors to calculate what we've shelled out in salary this week.
Nice money if you can earn it - many wouldn't have the moral fibre to accept it!!
Rather than any meet up with investors, after all James Parsons previously stated "it is very difficult for the BOD to have direct influence over the share price, " - why not just get on with it!!?? . If you finally actually deliver some progress on your promises then investors will act accordingly. Past performance is hardly a reason for motivation. Future placing will be very difficult to support as the money continually goes towards salaries & nothing more! Time for the "experts" to finally deliver & justify their extortionate salaries!!!
Zoggz,
Thank you for the update. The jury is still very much out for me. I don't think that the Directors realise how much under water some long term holders are!! We were never given the opportunity to save our investment & for many they believe we have been misled.
My reluctance to communicate stems from several emails I exchanged with Colin Hutchinson while he was in charge. Once he left the business I communicated with him through his LinkedIn profile. He couldn't remember our previous correspondence...nevertheless we had a frank exchange of views where he was left with no doubt of my feelings We are not all gamblers & many make pension decisions based on what the Directors tell us.
Believe me when I say Andrew & James will be very well versed in PR but I continue to doubt their true intentions when I look at their current activity.
Thank you though for sharing this.
Zoggz
I suggest you email info3@ascentresources.co.uk & address to James Parsons or Andrew Dennan directly. They are obliged to answer you if you are a genuine investor.
I have also contacted the Midas financial column at the Mail on Sunday again.
Without generalizing I have worked in a Sales capacity at various organisations & in a couple of cases the guys at the top have been Accountants with MBA qualifications. I found their blinkered attitude to be very frustrating. They only saw the business in terms of bottom line & often several opportunities were missed.
James Parsons & Andrew Dennan do not possess the skills to develop AST or their other businesses. Unfortunately AIM generally encourages this. They are not capable of adding any measurable value - instead the intention is to keep the story going for as long as possible & hopefully feeding off investment to keep the figures churning.
As a result after 2 years at the helm, they have produced no tangible results. It has already been remarked on how the Management structure is top heavy & because they generally regulate this, it is allowed to happen.
As investors, we are kept in the dark as to what is really happening. The most overriding factor which everybody, even the FCA turn a blind eye to is the fact that the business trades with virtually no income while incurring massive running costs.
As I'm now fed up of saying, contributors to this Board need to approach journalists & the company itself to publicise what is really going on not just here, but elsewhere!!
As a few of us have said...it is best to express your feelings to AST or Vigo Consulting directly. Also worth approaching any financial journalists. I myself have done all of this but it needs others to do the same. This company's activity over the last 5 years should be publicised for what it is.
When is shareholder returns going to be given some priority??!!
Retrosec,
Unfortunately I have to agree with you. Putting all of the waffle aside are the usual words of "we expect, - shortly - placing - new shares- Riverfort - continue" when really nothing has progressed.
Still no end to the Slovenia legal case.
I recognise Align Research to be no more than a Marketing outfit - goodness knows what they are getting out of this? They talk about a target share price near 20p!!!! How??
I just want my investment back so I can move on.