Ann: Change of Director's Interest Notice, page-43

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secondsight

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15/05/18

01:33

Post #: 33091264
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Originally posted by alethia ↑

For those watching live theatre of banking and insurance commission you have likely laughed with disbelief at testimony of ceo,s. Directors and execs who in many cases feel maligned by even having to appear and answer difficult questions about how they managed to rip off s/hs and customers and subsequently destroy value over a decade ( first clue ).
There is a lot of egg to go around and I’m genuinely surprised at depth of problems and naïveté of execs when they are confronted with past performance or lack of ( second clue ).
Made me think more carefully after reviewing the disasterous history lesson of ADO and consider what idiots our directors have taken us for and continue to take us for.
EG: MS joined board in October 17 as a self proclaimed communications expert but 6 months on none of those skills have been displayed to poor s/h’s sitting under mushrooms.He will probably talk to us when its too late to worry which will be later in the year given the 4C’s performance.
GC is longest serving director/ceo largely responsible for this destruction of s/h wealth and in some cases dreams over the past decade .He managed during this time to take fees for 2 other directorships and as chair of Sienna take it to ipo in 2017 when ADO was fighting for its survival.
Dispersing skills across multiple directorships (especially if skills appear limited ) is being criticised by the commission and s/h groups and this applies to ADO.
Don’t really know much about capability of new chair but given the selection panel must have been GC and MS don’t hold out much hope for cheery letters full of glad tidings and dividends to s/h’s.More likely to be a case of “ please sir can i have some more ‘ and soon.
At least the commission forced these substandard performances into open but in ADO case the blinds are still down .given the board is down from 5 to 3 it would be interesting to know if they upped their fees ( probably for extra workload ! )and also the chairs package given it would have been a short application list. Will have to wait for September AR for details. that will be a rip roaring episode and a its a bit like waiting for the next Buffy episode - always an implausible story line but i feel a big dilution coming on.
If you are a trader ,then you took your chances .
if you are a long term holder then like banking customers we deserve much better from our board.

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Talk to the company, they have other priorities at the moment.
And that's very good in my view!

ADO Price at posting: 1.2¢ Sentiment: Buy Disclosure: Held
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Ann: Change of Director's Interest Notice, page-43

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Ann: Change of Director's Interest Notice, page-43

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