Member Info for Yachty

The meeting is still in progress
Hoping this is a good sign
Getting on for three hours........

They have unfortunately quoted the previous % holding as 69.1% rather than 59.1%
Quite material given the revenues

I hope they correct the note

Contacts

Strikers are having a meeting at 12

I hope this results in a return to work vote.

Message sent to workforce

Your decision to continue to participate in the unprotected strike, despite the ultimatums has left the Company with no option but to consider dismissing you. You are invited to submit written representations on why you should not be dismissed by no later than 13 September 2018 on 07h00.

CEO Note:
The current strike is illegal. Management has indicated to shop stewards that we are happy to convene a townhall meeting with all employees to discuss the current issue. We would use this opportunity to explain the position and we urge all employees to return to work to participate in this meeting. Failure to return to work will leave the company no option but to apply the provisions of the Labour Relations Act

Allegedly it got unpleasant at the picket lines yesterday, some strikers are in hospital.

There’s no escaping the tone of this and the previous message to the strikers.
I understand the unions back a return to work but the workforce want cash and a face to face with senior management

So here’s the problem, we’d like transparency but not if it affects the share price in an adverse manner.
If I’d had the dialogue ive recently had but last week I would have perhaps sold and bought back in lower
If one had been in a position to share it in real time then I fear many of our fellows might have done the same, not to mention the shorters.

This is the inherent flaw with an open forum such as this, not all of the members are pulling in the same direction and as such when sharing information we create a conflict of interests

I have asked this question directly but not had an answer
South African picket lines generally are not worth crossing

I’ve dialogue with two locals affected by the strike
I’ve relayed their side of our discussions making no opinion

Draw you own conclusions but they have been quite firmly requested to return to work and appear unwilling
Anyone here with direct comms to the BOD or better still Fortune now has some a little info to ask some direct questions in the otherwise news blackout

As they are still picketing this am, the strike is ongoing

I’ve been told the strike might on till next week

Management sent this SMS to workers
Dear colleague,

We note that you did not report for work this morning. Please be advised that you are on an unprotected strike. If you do not return to work by 07h00 am tomorrow morning, 11th September 2018, the Company will be left with no option but to consider taking the next step in terms of the labour laws of the country.

CEO Note:

The current strike is illegal. Management has indicated to shop stewards that we are happy to convene a townhall meeting with all employees to discuss the current issue. We would use this opportunity to explain the position and we urge all employees to return to work to participate in this meeting. Failure to return to work will leave the company no option but to apply the provisions of the Labour Relations Act.

Further communications infer that workers are waiting for Fortune to address them directly and they are disappointed at lack of comms thus far

They have however been SMS’d by management today, content tbc.

The way I interpret the statement is they received R20,000 and we’re looking for something else within the time frame suggested
Now they are not keen on returning without a further settlement

I understand further that the entrance is picketed

I have just received this from someone on the ground

Old workers said they want their money as they are share holders"from 2014 till now" so 2 to 3 months back mine gave them 20 000 each and promised them to give them other money when time goes but it seems like they failed them,so now they waiting for management to come and talk to them and on the other hand they want cash in their banks before they start working

They are still out

A valid question YT.
We have the messiah for a CEO, Vanadium prices through the roof, all of the positives that NickD reminds us of daily and a SP going backwards despite actually making confirmed revenue.
What will it take to reverse this........?

Having re-read the last RNS in light of today’s developments and I suspect some further announcements, I can’t help but wonder if there is a deliberate strategy here to mitigate the lower than expected revenues.

I just hope, as do others, that SEE can announce the good news in a manner that might not be to the further detriment of the SP, or sack the incumbent feckwit in PR and engage a third party who is more competent.

It wouldn’t be unreasonable to suggest that app downloads between iOS and Android could reach 10M over the next twelve months, I can’t help but wonder what percentage of downloads turn into customer purchases.....?

With online sales penetration forecast to increase from present levels by 150-350% over the next three to five years, (according to a previous post) Koovs at these levels should be a good play.

D, a distinct possibility and with 16M shares bought at twice the current SP not one I’m happy with.
Are there an holders nearer Romsey than the South of France?

Unfortunately, I have to agree; though with some degree of incredulity as I was sold on the product and market potential and further convinced by the caliber of trial installations. For there to be no uptake the board have to complete amateurs playing at business.

He can deliver emails but appears not able to deliver results

Something must have gone pretty awry with the product if we have no clients after all his waffle about positive trials.
If they were local I’d pay them a visit