RE: AGM resolution 9-101 Jun 2024 18:19
Ice, I agree raising funds in this environment is challenging. However, in late September the SP was around the £1.20 mark and many (including myself) were reassured when AS said regarding funding - “So, you know, we have plenty of optionality and that's always at the front of our minds as a board of directors, so don't worry about that.” (September interim results). And yet here we now are - a badly managed and leaked raise at only 50p, sentiment at rock bottom, the SP floundering in the low 40’s and no meaningful demonstration of any II’s significant investment.. So I can understand the anger and frustration felt by some towards the senior management (who have been generously remunerated).
AS has fallen/been pushed on his sword. So perhaps it is time to move on, but the options performance targets and bonuses have to be more closely aligned to the SP and shareholder interests from now on.