Ann: Trading update and revised FY21 outlook, page-233

This is a classic example of what poor management can do. 5 down grades since September 2020 - what type of audits do these guys do? The insiders appeared to know this and gradually exited. however all is not lost. The resignation if the CEO is a positive. The next step is to stem the bleeding and stabilize the business. We are in the midst of a pandemic and A2M is not a classical exporter but relies on actual air travel. So part of of its business model needs to be correlated with air travel. So it just appears poor planning and strategy. They hedged their bets on a parabolic recovery and appeared to not factor the pandemic continuing or worsening. Now, unlike other companies that have had contingencies, a2m are only aggressively pursuing this strategy now. It is urgently required to prevent further losses. The key now is to truncate and stabilize. Growth can be reignited , however a company needs to be saved first. This is looking like a takeover target at much lower prices imo. I think whoever gets it can make it seriously work. Just sad what mismanagement can do to one's wealth.