Well that's a fair point you make. We will now just have to be even more patient to see if the new management team can set this coy in the right direction. A good sign will be if they stick to their word and significantly reduce the overall management remuneration, at least until a new MD is appointed.
However, whether it is possible to source a new MD at a lower remuneration level remains to be seen. The current market downturn may lead to more executives becoming available. Maybe the coy. will offer incentives by linking remuneration to positive outcomes, rather than basing it purely on salary.
In the meanwhile they will have plenty of work to do by way of securing the significant debts outstanding.
ADY Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
