ELE 0.00% 0.5¢ elmore ltd

I am completely disgusted with this announcement for more...

  1. 255 Posts.
    lightbulb Created with Sketch. 41
    I am completely disgusted with this announcement for more reasons than i have time to list right now. Cannot believe that Cedric has the audacity to actually thank shareholders for their support while serving up horse piss yet again. And now he thinks he deserves another pat on the back in the form of bonuses/options? What for? His outstanding achievements as CEO?? What exactly has he done except over promise and under deliver time and time again. And if you want to vote against it you might not want to bother as the wording 'the board with the support of institutional investors' says it all. FS will lend their support to Cedrics little retirement plan in exchange for dirt cheap shares and there is no way normal shareholders can outvote them. This whole consolidation (which has already happened before btw) and name change is just an attempt at rebranding to hide the fact that this company and management has failed to achieve basically anything it set out to do in 10 years from any prospective new investors. All they have done is constantly miss every single deadline and target by a huge margin and dilute dilute dilute, leading to such a huge shareholder turnover that they dont even feel it is necessary to explain what is going wrong and why they keep moving the goal posts. Management run the company like it is their own private kingdom and basically seem to have little to no respect for shareholders. I have doubted Cedrics ability as CEO for some time now but this latest slap in the face makes me doubt whether he is even a good person. Everyone who has been so enthusiastically defending the company and its management should really take note of this announcement as it is a fine example of the positive spin they try to put on every piece of sheet they have served in the last 10 years with 0 explanation of what went wrong. Best to take everything they say with a truckload of salt
 
watchlist Created with Sketch. Add ELE (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.