Dreadful address, very tone deaf considering it’s addressed to the shareholders who have trusted them with their hard-earned. Some things are certainly out of their control but a passing reference to ‘volatile markets’ gives this a sniff of a lifestyle company address. Been a long time since I held this so I can’t recall what the remuneration is like, but I get the feeling these guys are collecting very nice pay packets. I used to be a fan of Nantes too…
Ann: Chairman's Address to Shareholders, page-7
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