Ann: Board Changes, page-25

I think us crazy punters are responseable for the share price. As for the previous CEO I don't think he has an enviable record. We had a cr in June last year. About 20 odd million raised. An fundies that tipped in got duded. I don't buy the one off nonsense. At the time of the cr I don't think the market was informed accurately of the dcb model. I didn't understand it. It wasn't explained well . It never was. We now know Mbe spent obscene sums of money on advertising to acquire low value customers for little benefit. It was a rubbish business. To have aspirations to have been No 1 in the world in this crappy business must now be an embarrassment for the remaining board. They oversaw this charade. In 2016 top 20 held about 45% now about 20%. I can't see any fundies there. Mbe has zero cred with the people who ultimately shift the needle. The accounts need cleaning up.Can they be relied on? I don't think so. A bit of contrition at the AGM would be a start. Apologise for the debacle thar has occurred. Acknowledge failings.
Draw a line under the past. Lay out a plan for the future that's credible.
In my view if Mbe has a future it largely relies on the acquired businesses to carry the can. Those former owners copped share at very higher levels than current. Peaches and cream might do the trick for retail holders at the agm I think others will be looking for more.