It is a great pity that the company has no one with any public company experience on the board and it shows. They seem to lack a basic understanding of engagement with shareholders. That announcement was released during the trading day. Surely someone should be advising them that these announcements should be made before the market opens so that all those interested can read and absorb prior to the bell.
I agree that this is a PR disaster particularly as late as the AGM they were very bullish regarding the near term. In this announcement they say that these contracts were delayed in the second quarter which implies that the board must have been aware of the contract delays at that time of the AGM.
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