VMT (ASX) Ann: Notice of AGM/Proxy Form and Board Update

Originally posted by VYR: ↑

Well said,

Up early suffering from the dreaded jet lag and playing a bit of catch up while putting aside Janet Albrechsten's advice on this excellent Sunday morning.

Nice to see the Au Government sending, albiet a token , $10m (38c per person) of aid to Ukraine. To match the US we should send $22.38 / person. Krudd will have a bit of trouble spinning that to Donald.

Bob Hawke would likely recon Albo's lot are brainless bums. Time they got off the seat.

Hopefully the rest of the West's resolve to fund Ukraine's defence will keep the lid on any aggression ambitions from China and isolate Russia to the point that lets the world get back to normality and takes the pressure off discretionary spending and allows equity markets to regain their Appetite for risk.

Annual growth in Share price.

It's rare for a public company to recognise in their performance rewards your statement "at some point their successes and achievements have to be reflected in company profitability and share price."

VMT's has one and only one performance indicator that drives those awards and it's Annual growth in Share price.

Management need to achieve 20% compound growth in the share price over the three year period to win all their at risk pay. Referring to that as freebees is about as crazy as investing in bit coin.

The current "Share price only" performance indicator is heavily weighted against management when the market goes into "risk off" and PERs drop dramatically.

It would be fairer IMO if they had a mix of growth in NPAT/share and Growth in share price as the KPI's.

Worth noting that between the end of yr 2020 to end of 2023 the NPAT /share jumped from 1.3c to 2 c which is 15% PA compound growth. That rises 2.44c and 24% PA compound growth if you take out the shares that were issued to fund less than half the new factory that will double production capacity.

Equities markets for growth stocks went into decline during that period and instead of VMT's SP growing at 15% pa from 44c to 67c or 24% pa to 84C it fell to 14c.

How unfair was that to management and shareholders.

Lapse of 2023 awards:I think it's fair to say that VMT is a much safer and potentially much better investment proposition than it was 3 years ago.

In spite of that, market conditions have driven the Share Price down , Share holders have suffered and management weren't rewarded for their achievements.There is a long list of good stuff that has happened in the last 3 years.

Where would we be if Management had merged with Super Soco ?

Probably up the same creek as NIU. Their profit/ share dropped from 1.12 RMB in 2020 to a loss of (1.73) RMB in 2023 and shareholders now have negative equity.

The next announcement will be interesting.

Good to have a bit riding on this pony.

Expand

I have to say I am continually perplexed by comments about Equity markets being in risk-off mode for growth stocks.
We have been in a Global Bull Market since October 2022. The MSCI World Index returned 23% for Calendar 2023!
Key indices have hit record highs including Dow Jones, S&P 500, and Nasdaq.
In the first quarter of calendar 2024 the ASX200, Britain's FTSE 100 The MSCI Denmark, Frances CAC40, and Germany's DAX. Irelands' ISEQ, Italy's MIB, Japan's TOPIX, the Netherland's AEX, and Spains' IBEX, ALL hit record highs.

What has to be happening before you consider that Risk is ON?

No.	Vol.	Price($)
1	19709	14.0¢

No.

Vol.

Price($)

19709

14.0¢

Price($)	Vol.	No.
14.5¢	79659	2

Price($)

Vol.

No.

14.5¢

79659

No.	Vol.	Price($)
1	19709	0.140
1	50000	0.135
4	207273	0.130
3	114000	0.125
3	31871	0.120

No.

Vol.

Price($)

19709

0.140

50000

0.135

207273

0.130

114000

0.125

31871

0.120

Price($)	Vol.	No.
0.145	15000	1
0.150	19999	1
0.155	20000	2
0.160	18100	1
0.165	20000	1

Price($)

Vol.

No.

0.145

15000

0.150

19999

0.155

20000

0.160

18100

0.165

20000

(20min delay)
Last 14.0¢		Change -0.010(6.67%)		Mkt cap ! $58.54M

Open	High	Low	Value	Volume
14.5¢	14.5¢	14.0¢	$5.766K	40.29K

Ann: Notice of AGM/Proxy Form and Board Update, page-28

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