I have held MIK shares for some years, and have been inspired to...

I have held MIK shares for some years, and have been inspired to post for the first time by the comment just posted by Bosco. I too fail to see any positives in the new Chairman and CEO despite the sentiment of other posters. Tyree has been in the Chair for close to 18 months, during which time he has done nothing, as far as I can see, apart from get himself 4M shares just for turning up, and presiding over a record loss and a record level of expenses- about $1.1M higher than the previous year. The full year accounts show that his shares cost $348k, and Blomfield's payout was about $190k, so there's a lot of other cost increases which give the lie to his spiel about cost control.

The announcements show that Thailand was unofficially awarded on February 15, and Blomfield was given the boot on February 17. That clearly says to me that Blomfield secured the deal, so as far as I can see Scully-Power has done nothing since other that get himself $100k of shares for turning up.

I'll sign off with a comment on a moment that really put me off Tyree. This only occurred to me after Thailand was announced, but I was at the AGM last year and I'm sure that in his speech he actually mentioned that deal by name. More importantly, he said to the gathering something along the lines of 'we aren't going to give our competitors any advantage by disclosing our margins, but if you ply me with whisky afterwards I might tell you'. It was an extraordinarily unprofessional comment, as he was effectively inciting selective disclosure of confidential information. If ASIC were there he could have been up on charges, and it's something I could never imagine being said by any other Chairmen at meetings I've been to. It reminded me of the saying 'never send a boy to do a man's job'.