AGM - DEBRIEF6 Jun 2022 11:16
Was poorly attended but had the advantage of perhaps a more frank discussion at the start than would have happened in a full room. Will list key pints made by Board , and then give my impressions.
1. CEO advised bottling in USA planned to commence q3. Four bottlers reviewed and met and preferred bottler has already done trials for quality etc. Preferred producer chosen and to be approved by board this week.
2.CEO confirmed focus 100 percent on USA launch and bottling and take lessons from it prior to UK launch.USA sales team already performing well and winning contracts. Gone for people with a lot of experience in the market. 100 plus years experience.
3.Accepted poor and misleading communication re UK launch. Now targeted for 2023 given point 2.
4.No money required this year
5.Have launched low calories tonic plus organic, latter to particularly target Californian market
6.Aviva continue to hold plus 5% of company
7. Chairman said was puzzled by sells as post fund raising saw the company as a three year project to get further established, let alone the issues of the past with covid.
My impressions. A board now led by a Chairman who has now got everyone very much focused on a strategic plan and determined to implement it. Got the view maybe was not the case before. Company clearly faced huge problems given covid and geographical position which has made things challenging even to get to this point. Relooked at chairman's cv, impressive and suited to the role the company needs. I made point, among others, that communication needs to be more and clearer, not least with rnss and on the company web page.
In conclusion went into the meeting very concerned but post meeting a lot happier given I believe they are on the right path. I purchased more shares this morning as a result. Also had a chance to speak to the financiers who handled the launch. was told a lot of former directors had been given shares cheaply which were being off loaded. Hopefully now coming to an end. In summary, left feeling positive and that all are focused on the right targets and strategy. Hope this helps , Best luck to all
Sign In
Follow the stocks
