Not wishing to draw attention to myself but I was one of the upvotes on sitm's post.
I hope you're right when you say the market will recognise the fundamentals, because most of us on this forum have held this stock for a number of years, and if there is a stock market god/s, then just out of sheer perserverence we holders deserve some reward.
I can remember a few years ago, just after the Gloucester basin sale and the vulgar rewards the ceo paid both himself and his management shirt lifter mates, that someone posted the view that the ceo was treating our company as though it were his own, a private company, not a public one, and that whatever he wanted to do, he did.
I can also recall at the time speaking to a broker from a major company, ajl were around $6 at the time, and I sought his view on adding to my portfolio. His comment was no way, wait, because they had ajl valued at very low $2's. I couldn't believe the discrepancy in value at the time and I challenged his comment. He said exactly what you posted, and that was there was almost zero confidence in management right across the investment spectrum relating to ajl.
Of course we have had the gfc in the meantime, and other factors external to management control that have affected our company's performance, but when we look at some of the decisions by the ceo and the approval by the board, I think the it is very easy to understand the general market's sentiment.
I think most of us are of the view that corporate change is long, long overdue, and that change imo must include other key management members who have been privy to and part of the decision making process that has got us into this almost fatal position.
Under normal circumstances one might suggest today's announcement would have been greeted with approval by the market, but not with ajl. Now of course a major reason for no bounce may be that we are in an entitlement offer period, but even given that, the almost zero postings on this forum indicate to me that who the truck cares anymore! No-one is listening to Campbell, Swan and the Board anymore because they are at the end of the day, merely spin doctors, out to feather their own nests at the expense of the likes of you and I, sickening really.
I used to be a passionate stalwart of ajl, I really believed in the space they were in, I really believed that the ceo and his key management members were the ones to make us all comfortable, to take us forward, fair to say I was a dumb ass. I hold now purely because of the u.k. factor, and in hope that there is karma in this world after all.
It's a shame really when I think what could have been with a half decent leadership panel.
AJL Price at posting:
$1.24 Sentiment: Hold Disclosure: Held
