Ann: FY2020 Guidance & Senior Management Update, page-44

First 44 Last

Share
Profile

Follow
Symore

32 Posts.

2

13/07/20

12:26

Post #: 45823343
Share

Originally posted by Victor24: ↑

I agree tintin. Why is Basham leaving now after all of the good work he has done to get us to this great position? Makes me suspicious. I mean good on him for doing all of the hard work to get us to $45m in revenue and +6m in profit though of course, it'll look pretty good on his CV turning AVA around so fast, and I'm sure he'll be in demand given this success. Do you think he wanted too much money in a new contract perhaps? h seemed only to have a 15 month contract reading the original announcement of his appointment back in March 2019. Personally I think given what he's done to turn the AVA business around and grow it by what looks like almost 50% in a year, you'd think the board should be happy pay him. Does anyone know where he's going? It wasn't clear in the update?

And another question I have is why in the world are they going back to Broomfield? Reading that recent DMX article again, Broomfield was the CEO of FFT for something like 14 years, and was the one that ultimately took it to listing, but then burned through all of the $25m IPO cash, and effectively ran it into the ground thereafter, promising lots but delivering nothing, all before the acquisition of MaxSec and then handing off the CEO job to Fergus. Neither Fergus nor Broomfield every turned a profit when running the show, and yet here we are again. And then Basham had to do that CR in May 2019 only just 2 months after joining because they had basically nothing left in the tank when he joined remember. Talk about being handed a dead cat to start off with! It really is pretty amazing then to see were we are when now you think about it given that too.

That DMX article was pretty clear about the company not being trusted by investors due to all of the management changes in recent times and over promising and under delivering. I thought it seemed that Basham had fixed that perception and got the market's trust back, but it seems that the Board have made yet another strange decision allowing Basham to leave just when we seemed to be turning the corner. Fair enough if he's got something else on the boil, but why not get more new blood into the business like they did with Basham rather than go back to the old entrenched thinking. I really can't get my head around why Broomfield has been brought back - I just don't see him taking up from were Basham has left us and delivering the further change and growth we need to get the SP up to the 30c and beyond that has been hyped. Hope I'm wrong but fear I'm probably right.

Expand

Good analysis.

They have gone from a CEO who didn't succeed to a CEO that succeeded, back to the old guard again.

We'll have to wait and see if the changes Basham made are cemented enough to ensure the company continues to succeed. Or if they will snap back into their old habits.

AVA Price at posting: 16.5¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

PRS

Prospech finds dynamite heavy REE grades from historic core in Finland

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

PR1

Nanocap Pure Resources acquires Reedy Creek garnet project, WA

Trump is President Again: What Does This Mean for Crypto?

First 44 Last

Add AVA (ASX) to my watchlist

(20min delay)
Last 13.5¢		Change 0.005(3.85%)		Mkt cap ! $39.16M

Open	High	Low	Value	Volume
13.5¢	13.5¢	13.0¢	$13.64K	101.0K

Buyers (Bids)

No.	Vol.	Price($)
6	307619	13.0¢

Sellers (Offers)

Price($)	Vol.	No.
13.5¢	295179	1

View Market Depth

No.	Vol.	Price($)
6	307619	0.130
4	55950	0.125
3	107375	0.120
2	243478	0.115
2	105454	0.110

Price($)	Vol.	No.
0.135	295179	1
0.140	149132	4
0.145	60000	2
0.150	254947	6
0.155	227628	6

Last trade - 16.10pm 11/11/2024 (20 minute delay)

AVA (ASX) Chart

Ann: FY2020 Guidance & Senior Management Update, page-44

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Prospech finds dynamite heavy REE grades from historic core in Finland

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Nanocap Pure Resources acquires Reedy Creek garnet project, WA

Trump is President Again: What Does This Mean for Crypto?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: FY2020 Guidance & Senior Management Update, page-44

Top Stories

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Prospech finds dynamite heavy REE grades from historic core in Finland

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Nanocap Pure Resources acquires Reedy Creek garnet project, WA

Trump is President Again: What Does This Mean for Crypto?

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News