RE: Valju...10 Jul 2019 10:06
Morning year1970, in principle, I agree not all can always attend agm, presentations, etc, due to genuine commitments/reasons. That having said, not all, actually had genuine commitments, they simply had no reason to go, as they are here for very different reasons to you and me?
I would confirm that there are many here desperately underwater, if the figures shown to me some months back, when I asked for pledges to challenge said agm motions? Which imo would have given the BoD a shot across the bow, not to be ignored? Trouble is pledging and doing are two very different animals, as are making the effort to attend or not attend? But, if you have a serious amount of money invested, ie 13k which is now on paper 200 pounds, I feel if more had made that journey, myself and others "that did vote against" several of the motions, as a group WE would have actually had enough to make a difference? But that it now water under the bridge.
As for the gravy train salary and bonuses, it is a sore point with just about all concerned, but, if you dont attend these official meetings in relevant numbers and challenge (or call an egm etc) nothing will change? The going rate for any decent professional in London is around 150+ Id say from my conversations with others, so, the salary side of things, is not really as bad as it looks, however, bonuses for technical achievements such as patent grants etc imo is not warranted and especially with a Co so hard up of cash and trying to gain shareholder sentiment back!
One PI did challenge this and ask about shares for salary or indeed reduction of salary and cancellation of bonus, but in honestly was rejected by George (who chaired the meeting)? Again you need numbers to do this and an egm with guaranteed support would be the only way now and of course the £30,000,00 plus it takes to initiate one?
I too have learnt an expensive lesson, in that you cannot simply sit behind a keyboard and believe all what you read, you have to go out and find out for yourself (network etc).
IMO THERE IS FAR TO LITTLE TRUST AND IT NEEDS TO BE ADDRESSED AND PI'S NEED TO BE VERY MUCH BETTER PREPARED IF THEY ARE TO HAVE A SAY IN VALS FUTURE, ITS THAT OR SIT TIGHT AND HANG ON UNTIL RIDE FINISHES, OR JUMP OFF....
Finally what i would say, is George was far more engaging than I expected as indeed were all present and there were at least twenty or more at meeting, some BoD some from expert services and city and some pi's... It really is a case of if what they say about 201 JV, in talks with majors and it bloody works and 401 is now stand alone... etc, before money or shares run out?
I am hopeful, fro the personal conversations I have had, that they will announce something prior to that.... or Val-mageddon may happen before Val-derado... But my crystal ball is as foggy as everyone else's.... I just DONT agree with Roses and Co, bashing for the sake of it!
I mean why go on and on and on... when you dont hold and wont buy in?
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