RE: RNS25 Apr 2023 15:58
to be fair to stefan and his mates, they did manage to make a lot of money
for themselves last time round, so it’s not that illogical for the insiders to
give him another go, as they will presumably be hoping he can conjure up
another pump for them to dump into. but awful history of sustained value
destruction for ordinary pis under his tenure, who should beware again, imo.
historically ADME seems to have played three main games to set up a spike:
1. look, a very rich cornerstone investor has bought in, he’s a really
good omen! (most obviously, when the dubious sheikh was brought in).
2. look, we’ve cleverly managed to buy into /are about to buy into an
obscure asset that no-one else thinks is actually worth much, but it
is going to be a real company maker (e.g. marginal fields, barracuda)
3. oh look, someone is about to buy our stake in aje from us, so that’s going
to make ADME loads of money soon (- most obviously, when ADME, under
stefan as CEO, boasted that aje was going to be sold to GPDC, which spiked
the share price, & enabled certain individuals to dump just ahead of a large
placing, after which the GPDC ‘bid’ simply melted away & the s/p sank again.)
if i remember correctly, randy connally was also involved (via NCT /MYN)
in talking up MXO back when that phantom bid from GPDC was being touted
around. ? the other new ADME director is probably in at randy’s request?
(…worth looking back over the appalling history of value destruction
for ordinary pis at NCT / MYN while randy was running that show, to
get a sense of what a mate of randy’s might bring to the ADME party.)