3DP (ASX) Ann: Ceasing to be a substantial holder

Originally posted by DavidCall: ↑

Hi Guys,

I know I’m going to upset people but In all fairness Im not the only one on this board that thinks IO needs to be moved on. Im not suggesting removing him all together.

Perhaps putting a more experienced CEO in place would be the best outcome. Vincent English recently abruptly resigned from MP1. The abrupt decision indicates he was moved on as opposed to resigning.

The death of his son and upcoming court cases in relation to this matter is heartbreaking and would test the resolve of any CEO of a global organisation.

IMO Ian should remain on the board and a more experienced CEO should be appointed to restore shareholder confidence. Optics matter and the market needs confidence restored in the business.

His lack of transparency in market updates is causing all sorts of confusion amongst holders. I hate to bring up BS again but from my experience his integrity with respect to reporting complete transparency to the market in terms of reporting is always 100% honest. And he’s clinical when it comes to making key management and strategic changes.

The fact that IO still only has three board members indicates he’s still running this as a family business as opposed to a serious listed company.

I don’t profess to being an expert by any stretch of the imagination.

Although If I was a major shareholder I would move Ian on. And replace him with a more experienced CEO.

I would also as stated before rip off the band aid off and provide a market update with complete transparency about the state of the business. Including reporting all standard SAAS metics.

If changes need to be made the board to provide a strategic road map to right fixing the business.

For the share price to increase market confidence has to be restored and a strategic shakeup and management changes would go along way to achieving that.

It wouldn’t be the first time a bootstrap founder has been replaced. Just look at the affect firing Rob Bromage from IHR and replacing him with Matt Donovan did to IHR.

Within months cost were cut and their entire strategic direction changed in a very short period of time. Subsequently both KKR(MC 49 Billion) and TAG are now in a bidding war for the business resulting in a 330% increase in their share price from their low of 6c. All this achieved in a matter of months.

This message has nothing to do with my personal share price gains. And I’m not gloating in anyway shape or form.

Im not sure why BS dumped at the low valuation he did. Perhaps he was making a point to Ian. Regardless BS still has 70% of his original holding which indicates to me he still has an interest in the business and like all holders and potential investors would like to see 3DP become sn incredible success and realise it’s potential.

Having Amazon as a customer and that opportunity having potential for considerable scale speaks volumes for the platform.

I realise I’m not particularly popular on this board and I genuinely apologise if I have offended anyone.

Most long term posters seem like genuinely highly intelligent individuals who have a far deeper understanding of 3DP than myself. I’m just offering some food for thought.

GLTA

Expand

So you think sacking him whilst he is in the negotiations on existing contract renewals with major customers is the way to go? How will that aid that process?

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(20min delay)
Last 6.6¢		Change 0.006(10.0%)		Mkt cap ! $53.13M

Open	High	Low	Value	Volume
6.1¢	6.6¢	6.1¢	$35.61K	564.7K

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