Was anyone else surprised when Grech ruled out personally buying more shares at this price because he was 'all tapped out'?? So much for the big deluge of director share purchases you broker mate predicted eh @Londoner ?? And then in response to further probing from Kohler, Grech said he didn't want to give anyone the false impression the co had miraculously turned the corner because the recovery would be slow and years in the making. Cripes!!
Kohler asked a lot of hard questions but I don't think Grech answered them well. Alan opened with a very direct question about why Grech was still CEO. Grech rather weakly fell back on that thing about how he offered his resignation to the Board and they refused blah blah. He then mumbled something about leadership meaning that one deals with the problems one creates rather than running away and hiding. Oh boy, I clenched my fist when I heard him say that.
This company has an executive culture that turns a blind eye to poor performance and dodges accountability!! Hearing Grech speak just now, its clear as day to me that the co will continue to flounder so long as he and his accomplices remain at the helm!
SGH Price at posting:
42.0¢ Sentiment: Sell Disclosure: Not Held
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