Well done Loui on drawing a personal meeting with our CEO, earned through your thorough research and astute acumen! That must feel like such a great accomplishment. Can't thank you enough for taking time out of your weekend with the fam to represent the retail holders.
I've read the summary quite a few times over the past couple of days and didn't want to comment until I let the emotion of excitement settle and I can think with clarity.
I can't help but feel that we didn't actually get anymore clarity than what we had before the meet. Not that we were expecting market sensititve information to be shared, but I thought we'd at least get clarity on the key questions we've all been asking.
1. Errors - No substantial clarity on plans in place to rectify this.
2. Forensic Accounting - No clarity on intention to investigate. The cross trades are done by instos, most of whom are likely his pals. As mentioned, he'd rather sit with astute retail holders than bankers. We don't have debt, so it must be investment bankers that's being referred to.
3. Missed Timeline - To me, this was the most important question we needed answers on. I don't know how the fishing reference has anyway shape or form addressed the missed timelines and poor comms from the company, and how they intend on protecting the share price. Why would SYA say expect to be announced by XXXX and then not deliver? Much like the 'updated and integrated DFS' that was meant to come out last year but instead they brought out a poxy PFS, we then had directors sell shares, and price came crashing down from 39.5 all the way down 12.5c in 2 months, with a cap raise in the midst at 18c. I get it was overvalued at the time and we just entered the frey of QT.
4. CR - To me, this was the second most important question we needed answers on. The real question should have been why was it done at such a high discount?
I feel that the meet and greet was merely a PR exercise to keep retail on side. Whilst it has garnered some excitement and maybe swing of sentiment, we are still no clearer than we were before the meet and we still need to try and hold them accountable.
Don't mean to take the moment away from you. It's good the thought was considered anyways by BL.
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