RE: AGM5 Jul 2025 15:07
Tray, it is all well and good repeatedly talking about people who get the POW model and people who don't but I aren't quite sure that explains our depressed share price.
I have been in POW for a lot of years and I feel that I do understand the business model and have been a big fan of it.
However, but, on the other hand (take your pick). My understanding of the model, in brief, is that we buy up low cost promising assets, jazz them up with a bit of low cost malarky, repackage them and in some form or other sell them on. That could be IPO, joint venture etc. All well and good so far, those bits of the process have been progressing, albeit slowly.
My understanding was/is that when things are spun out or sold on then shareholders would realise some material benefit in the form of shares in the IPOs, special dividends or some other. That part of the process seems to have a definite bottle neck because it certainly has not happened. Hence I would suggest that even if people do understand the business model or perhaps particularly if they do understand the business model and can see that it isn't being followed to it's original conclusion (as stated by PJ) then they can seen that there is no reward or benefit to holding POW.
To demonstrate that the whole model is alive and well I believe that a small special dividend should have been announced. Much rather that than blowing £3 million on some dodgy Saudi deal that would have seen us well and truly ripped off further down the line.