Great post Mozz as usual. There is one indefensible aspect though and it's the fact they have decided they don't need to tell all shareholders of why there has been a more than six week delay and have left people to seek answers directly and have to share them on a public forum for other holders to become informed.
It's one thing for the data to be delayed, but to then consciously choose to not mention why to shareholders is an amateur, inexcusable decision, on the back of shareholders already questioning the ability of management to run an efficient, transparent, and successful operation using shareholder funds.It's easy to write off all shareholders that aren't big investors who can afford to keep giving the company money when they need a CR at bottom prices. Most of us bought our shares off other people.
Where does a gratitude and responsibility start and end. If I give PAR $1m, do they owe it to me to use it well? What if I then sell my shares, do they then still owe it to the new holder to spend it well, or do they no longer matter as it wasn't their original and direct support of the company? How many times do shares have to trade hands before you aren't really owed any gratitude because you never directly gave the company money?
It really perturbs me that despite the zero cost of submitting an announcement to the market, and despite the fact it is 110% within their power and responsibility to keep shareholders EQUALLY informed, they have chosen to still not make a correction to the now INCORRECT information disseminated at the AGM.It's got to be one of the simplest things for a company on the ASX to do, yet they are proving incapable and all that does it makes me doubt their alleged commitments to better communication and their ability to take shareholder feedback onboard and lift their game.
Some people probably including yourself are down anywhere from 50-90%. So we accepted that PR could have the most basic goal of getting some of us back closer to break even in exchange for him getting FREE shares worth more than us have managed to buy with our savings combined.If there isn't an announcement tomorrow, I don't think my faith in this company will recover. They are just too unwilling to do the right things at the right time.
PAR Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
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