Feedback from Andrew p, page-12

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30/12/14

23:39

Post #: 14520532
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Originally posted by MACLEOD22 ↑

Response from Andrew:

Had a return call from Andrew P this evening.
I sought his feedback as to why he resigned and his views on the prospects of SBB.
First let me explain that he is very disappointed on leaving the company and his exit having an adverse impact on the share price. His view is that the SBB price will recover and year end financials will demonstrate the viability and future prospects of Sunbridge. In his view the shareprice should never have dropped to these low levels. He has attempted without success to influence the CEO in taking various action that would have lifted the sp closer to the listing price.
For some time Andrew had been frustrated in SBB’s failure of effective communication to shareholders. It appears that Chinese executives do not understand the dynamics of the Australian market and institutions/shareholder expectations.
It appears that Andrew’s requirements in servicing local shareholders were not met. Consequently he saw no reason to remain a director. Thus both parties agreed with his decision to exit. No need to wait any longer.

In Andrew's view........
There are no surprises re sales/profits /dividends forthcoming. The shareprice should never have dropped to these low levels. It will rerate in time.

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Unfortunately this sounds like a nice way of saying the execs don't give a toss about local shareholders, potential institutional investors, the share price or the non exec directors opinion.

SBB Price at posting: 6.2¢ Sentiment: None Disclosure: Held
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Feedback from Andrew p, page-12

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