PNV - Banter and General Comments, page-9940

I must confess I missed that PNV had already had one strike, thank you for drawing it to my attention.
Before casting your vote for a second strike I would caution a couple of things -
- I agree credit on bringing PB in for the turnaround and in the turnaround phase he did well but he was conservative on expansion - milk US and BTM while you go into new higher margin products like Hernia. The Hernia development problems were on his watch. Without DW we would not be growing at 60% + with new geographic territories while we continue development on new products.
- We need to look back past PolyNovo to Calzada etc to see the full history. A lot has been done in the Williams era as well as a lot of history cleaned up.
- We are one of the few companies in this environment that has been able to raise a good lick of capital at a very low discount to market and have one of the strongest balance sheets in the sector.
- I also own several other early stage companies and dare I say I am not as happy- they have destroyed significant larger amounts of SH value . The current state of the market doesn’t necessarily reflect the quality of the board, management and most importantly quality of the underlying company.
I certainly agree as shareholders we should hold Board and Management to account but also support the teams that are doing a good job on actually building the underlying business and not protest vote on SP.