The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
As a long term holder for more than 5 years like us all getting very frustrated with the lack of progress here...before new investors get sucked in by the hype. I've researched interviews going back to 2018 with John Peters on Proactive Investors. Full of optimism about the future, Peter Whale value to the company etc etc you'll all know the rest!
If this wasn't AIM all of these experts would've been sacked due to poor judgement, poor foresight& quite frankly bulls**t on the actual facts.
I read of an investor who's £60k investment is now worth £6k!!! Not their fault they're obviously listening to the BOD's wise words of optimism.
To the BOD if I performed like this in my business I would've been dropped years ago!!!
Either up your game or move on!!! Not one of you have a shred of credibility! If you wish to argue then look at share price performance - the only people that influence that are you!!!
My fear with this is a complete lack of trust in the BOD. What will they do with any potential payout? I have little faith in Shareholders seeing any benefit.
After all this is a BOD who overnight can consolidate shares by 100:1.. Also say there is no need for finance & then announce a placing. All they need to do is announce that they intend to invest any layout in the long running Cuba/Peru operation and that is the last anyone will see if it. For a high focus strategy investors haven't seen anything tangible since they announced it 2 years ago?!
In my opinion characters like James Parsons know all of the ins, outs & short cuts to act just within the AIM guidelines. I wouldn't want him within a million miles of any potential payout!!
Dennan & Co please move on & recruit a BOD on a realistic 1/2 the amount budget who actually want to achieve measurable results in the near future instead of endlessly spinning everything out to suit themselves!!
Hi All,
Just looking in here to see what Mr Parsons is up to other than his part time role at Ascent Resources. Pretty consistent feedback after reading just a few posts. As a long term holder of Ascent I really feel your pain guys!. Hopefully he will move on and you'll get somebody in who genuinely wants investors to get a return on their investment!!
Just had a glance round some of Mr Parsons other ports of call...
There seems to be a recurrent theme everywhere the man goes. A few other snippets of non achievement to add to his vast Portfolio!!!
Echo Energy - share trading currently suspended, Results delayed, one poster has demanded a response today as he suspects a scam and is going to report to FCA.
Corcel PLC Just today release an RNS announcing James Parsons stepping down as CEO of Corcel Plc after one month in the role.
Coro Energy - investors still waiting for news that they felt should've been reported weeks ago
As a share holder of more than 5 years I have learned that virtually everything that is said by this BOD never materialises. I've listened to interviews, read RNS's but the share price continues to fall. That is a direct link to the activity of the leadership.
Little point spending money attending an AGM when all that is discussed has no impact snyway!!
It's not just SML...the pattern is the same throughout aim.
Let's face it. AIM is rigged in my opinion. LSE(this website) & the other authorities continue to turn a blind eye. This is just a finance option for most companies.
If someone had the balls to post a league table on the return on investment then this site would close overnight & all of the creepy characters that operate would scurry away to to where they came from!
If you need any proof contact them via LinkedIn! I have...they have no answers!!!
I was reading an article yesterday in a Sunday Newspaper written by a once ex Cabinet Minister who has run for years a leading publishing company. In the article he states that if a business is not performing over a couple of years then the answer lies with the quality of leadership and management.
Only in the world of AIM can characters like Parsons and Dennan succeed! Their names should be put in front of every financial journalist in the country to investigate why they can work in several part time roles, paying quite frankly ridiculous salaries for Accountants and in my opinion posting statements aimed at investors which clearly do not reflect the truth on how the company is performing as well as opportunities for growth.
To date both Dennan & Parsons have contributed absolutely nothing in terms of a return on investment for investors. They have merely diluted and prolonged any actual tangible results in order to draw their extortionate wages! It is obvious at present why they choose not to get into dialogue with investors & I am sure that the AGM will once again be stage managed to avoid answering any difficult questions.
My appeal to them as before would be to move on as quickly as possible. They are merely a self elected burden on the company and I challenge them that the business could recruit a new BOD on a 1/3 of their wages who would actually be interested on taking the business forward instead of misleading people that they are acting in the interests of investors.
Gentleman, I would not touch another business you to are involved in with a barge pole!! If you wish to argue then my investment is 82% down since you came on board.
A disgrace which should be echoed to show what a farce the AIM sector actually is!!!
All in my opinion but I doubt you could find anyone to disagree!!!
I have asked this before without getting a definitive answer...
Who at Ascent Resources (or parent company) actually makes the decision to appoint people like Andrew Dennan and James Parsons? Neither actually have any pedigree and apart from continually restructuring the finances of the business, they do not actually achieve anything!!
Look at the shambles Parsons left behind at Sound Energy. Look at the state of every AIM business he is involved in! Who actually decides that it is a good idea to employ these people? Investors are continually given a positive spin on things when in reality, the BOD's only real motivation is to keep the salaries coming in.
Without doubt, in any other sector people like these would just not be employed or would've been dismissed long ago.
Just what is happening in Slovenia?
Just what is happening with AST's Metals strategy?
These guys should be highlighted in the financial press because you really couldn't make it up what is going on here.
AIMHO
I have watched some of his Sound Energy interviews on YouTube and there is a lot of big words and waving hands around but when you really look into it, you can see there is no substance to anything Mr Parsons says.
He really sums up what AIM is all about... for anyone that disagrees - look how he has left Sound Energy and there is also Echo Energy/Coro Energy/Corcel... all the same as Ascent Resources. Virtually nothing achieved but spouting rubbish and the share price of them all speaks volumes!!!
I wonder if we could have an update on...
The ongoing stuck tool that was scheduled to be removed from a well months ago.
AST's metal strategy that they have been working on for 2 years.
The role of Malcolm Graeme Wood
The role of any of the Directors.
Why such a large Board of Directors when they work on a part time basis.
A comment on overseeing a 90% fall in share performance.
Why do AST have so many Accountants instead of technical people considering the nature of business.
Why are the BOD's salaries so extremely high considering the limited income of the company.
The ongoing reassuredness that the BOD are acting in the interests of investors.
Anything guys...us long term holders just want our investment back and to move on. I personally accept that in my opinion I have been misled from day 1. Just what is happening...
You contact the company as I did 2 years ago & are offered a phone conversation...to discuss what exactly? These guys are very good at constantly refuelling a vehicle on a road to nowhere to suit themselves!
They are doing everything in their power!!!
The shocking performance of the current BOD continues. I accept that certain legal proceedings are beyond their control but what exactly is happening with AST Metals strategy???
AIM the world of overpayment and underperformance!!No wonder James Parsons and Andrew Dennan tend to specialise in it!!
Move on guys and get somebody in who genuinely wants to reward shareholders instead of themselves!! Any publicity would embarass the pair of you!!
In my opinion this company continues to be abused by specialists who border on legal corruption!!! If in doubt, check out any other business they are invested in!
It's all going swimmingly for the BOD...a little hype regarding Slovenia but no progress. Don't stress though we have a magnificent Metals strategy in Cuba!!! All the while milking those extortionate part time salaries!!! Any other business this would be considered illegal. To quote RNS last year, Andrew Dennan the BOD expects to reward investors with positive news very soon in the first quarter. Typical AIM. The BOD clearly have their finger on the pulse. This isn't an investment its a sham!! Embarassing how LSE and the authorities choose to look the other way!!
Typical LSE/AIM company.
Board of Directors earning obscene wages while maintaining a lifestyle. If they had any sympathy for real investors they would act accordingly.
But hey they need to keep spinning a line to maintain the lifestyle. In any other business such share price performance would see the Board dismissed. LSE site is full of this and it is in their interest that it carries on!!
Where else could you award Directors for a bonus on a failing company??
The whole AIM market and all those involved in it should be investigated and shown the consequences.
This sector isn't an investment it is a sham!!!
Anyone who disagrees show me the evidence? As investors we follow the Board's words and act upon them. What a joke LSE is as well as the whole AIM market!!! Any argument just look at the renumeration of those in charge!!
Every excuse in the world apart from their lack of judgementBut
As a shareholder I fear any income will just be frittered away by the current Board of Directors and investors will see none of it whatever happens. AIM is full of this - obscene salaries, top heavy Boards & crap share price performance!!!
James Parsons and Andrew Dennan move on please. We can all see right through your motives. Hand on the reigns to someone who actually wants to take the business forward and reward investors for their patience!!!
Metals strategy?? Just one example!!!
In an RNS towards the end of last year Andrew Denham appeared to give the impression that shareholders would be updated with positive progress early in 2023. Once again nothing has transpired! Anybody can see that the Directors are just sitting on their hands watching the salary role in.
One example...since being appointed what exactly has been the role of Malcolm Graham Woode??? Why have a large Board of Directors when they are all mates of the CEO and the day to day activities of the business are so non existent that they can justify part time roles.
Meanwhile both the authorities and indeed LSE appear to support this and look the other way!!!!