Ann: AGM Address by Chairman and CEO Presentation, page-28

Something I was thinking this afternoon (sadly) - most leaders of publicly listed companies will map out targets and aim to hit them, eg sales revenue, NPAT. This puts pressure on management but they are supposed to be striving for growth on behalf of the owners: the shareholders. It also gives shareholders visibility on the future direction of the business, which can be quantified, and valued. It also allows management's performance to be checked. As far as I can see, and correct me if I've missed something, SEN management are not willing to do this, which means they may lack confidence in themselves or their business, or just simply neglect this part of the duty to shareholders. This has the perverse effect of transferring more risk away from company management and onto investors/owners - the wrong way around.

It's good to hear about some "No" votes at the AGM. We might be a bit annoyed now, but if we're still treading water in 12 months time and hoping for better numbers in 2019, we will be furious. If, as per Auto and others, there's a good chance we're going to be in great shape, then fantastic.