From the AGM24 Jun 2021 13:30
A couple of points taken from the AGM. Firstly, sounds like we’ve only recently now had a supportive bank that may give better funding options. Secondly, directors precluded from taking part in the December raise.
You have to take the BOD responses at face value but I’m not 100% convinced that they work as hard as they say on trying to secure debt based or non equity based funding. Issuing shares seems to be the easy route , especially if institutions come knocking, but in the end it’s always the SP and shareholders who are paying. We invested with the view that the SP and our investment would increase but that’s hard when the company keeps self inflicting damage on the SP.
I’m also not 100% convinced that directors can’t buy. I can understand the last raise was supposedly very close to the 5 airport deal but , with that and the second contract announced what prevents meaningful director buys now.
PF laments the share price and they all expect it to be much higher but there’s always something holding this back, always a nagging doubt that things aren’t as clear as they seem for some reason.