People invest for their own individual reasons ie; technical or fundamental etc. but either way each do their due diligence and invest when they feel it meets their criteria. I bought in on the fundamentals back in mid-2019. Management continued hitting their milestones and the fundamentals continued to look good so I increased my holdings accordingly.
Some investors are active while others are passive. Some don't consider anything as long as the share price goes in from bottom left to top right of the page. They don't read the Annual Report or look at what the Director's are paying themselves along the journey.
I've invested a lot of money into this company and I read the reports and slowly but surely the Company has been missing key milestones, been presenting incorrect information to shareholders and then contradicting themselves. The Remuneration has been sky-rocketing while the share price was sent to the moon for no real reason then the rocket ran out of go-juice and fell back to earth.
So being an active shareholder and a part-owner of this company - I want to hear from the people running the show. I want answers because I am paying these people's wages. I want to protect my investment. Why should I just sell out if I'm not happy? That is exactly what the problem is. Lifestyle company Director's know that 99.9% of the time this is what investors do, just sell out if they're not happy and they poor performance of the directors is never held to account. That way they pay themselves way above what they deserve because they know they won't be challenged.
Then other companies hire outside people to conduct peer reviews and they say "Wow we are not being paid as much as other companies" so they give themselves a pay rise and on it goes, up and up.
But where are the results? We haven't made one cent in revenue yet this years Remuneration was 5.9 MILLION dollars! Are you serious?
If I were a part-owner of a small company and we were in a meeting and I asked the Chairman "Why are you paying yourself so much? What do you do to deserve this amount of money when the Company is not making any revenue?" Then he sits there and ignores you and waits for the MD to say "he is a big help to me." Would you be satisfied with that? If you weren't would you pack up your stuff and quit and walk away losing a six figure sum? Hell no!!! I'd be voting to remove that person and get someone in who is open and transparent with all shareholders of the company.
On a side note I got the Computershare call yesterday. I asked the bloke how much Andromeda was paying for these calls? He said more than his company was paying him!! Fair play! Had a laugh with him but I was happy to provide my voting preferences and comments.
ADN Price at posting:
16.8¢ Sentiment: Hold Disclosure: Held
(20min delay)