Peak pessimism - complete overreaction, page-49

I had a look at the webinar my take way points from it

- external factors to blame mostly NHS ( I believe they have some internal factors - staff, no KPI’s, cash burn that they need to address). I’m not convinced their account/sales team is delivering effectively.

- Capital Raise - not convinced it was necessary if you keep costs under control - collateral damage from SP at discounted 7.5 now evident. I’m not sure they thought about the second and third order effects from that decision - quite surprised that the discounted SP wasn’t queried - however they must have gone out and found what level would tempt Institutional in - going back to first point if it was so discounted why not look for another option - short term- to assist with cash flow?

- Kate did 90% of webinar - she comes over well but what about the rest of the team? The Finance person (who given the backdrop was presumably WFH) did (not surprisingly) look uncomfortable. However the impression I got is Kate needs to delegate! she takes too much on and covers other staff who should be stepping up to the plate to report - it’s not a family business! You need to gauge how good the team is not just the CEO.