At the 2016 AGM in Perth, I approached John Palermo after the AGM to ask if OBJ would consider participating in the Hotcopper Corporate Spotlight. John basically said no and proceeded to turn his back on me within seconds. Not being one that is easily put off, I then discussed the same suggestion with Glyn who seemed a little more amiable in his body language. I then followed up this discussion with Glyn via email when I returned home a few days later:
'After the AGM I briefly spoke with John Palermo in a group, regarding Shareholder communications and suggested that OBJ consider participating in Hotcopper’s Beta testing for a new sub-platform named ‘Corporate Spotlight’:
‘Corporate Spotlight will offer ASX-listed companies the ability to provide information directly to HotCopper members engaged with their company subforum. HotCopper intends to release Corporate Spotlight in the coming weeks.
The initiative has been developed in consultation with company executives, investor relations professionals and the wider investment community. Corporate Spotlight will enable companies and their investor relations advisors the ability to communicate information about the company, its prospects and key investment highlights in an easy-to-read interface.
Corporate Spotlight will provide targeted access to retail and sophisticated investors, brokers and existing shareholders who use HotCopper as a source of company information. For HotCopper members, the initiative will provide a new information platform to help inform their investment decisions.’ http://www.asx.com.au/asxpdf/20160920/pdf/43b9ks90xr5kvt.pdf
Here is the response I received back from OBJ's Chairman at the time:
''Hi Xxxxx,
Thanks for your email. As we communicated at the AGM, our communications consultant Matt Wright will be undertaking the main communications role from now on. As to the new Hot Copper Corporate Spotlight we will see how it goes from the start and get some references before we look at the costs of the process (both subscription and responding) to gauge whether it is money well spent.
Thanks anyway and I am glad you enjoyed the AGM.
Xxxx'
The above is now 18 months ago and Hotcopper Corporate Spotlight is now operating outside of beta version and has 55 companies on board @ 31/12/2017:
The recent response from Matt Wright to Topher still leaves much to be desired on the front of Communication:
'I emailed Matt Wright last week to clarify this very question (i.e. does $100 million = revenue, profit or market cap). This was his response:
Hi xxxx
As Steve stated this is a personal objective, and therefore isn’t to be taken as guidance. As a result no further detail will be given at this stage.
Thanks
Matthew Wright Investor Relations
I have since responded with my disagreement and asking him/Steve to reconsider. I believe that if he can mention it multiple times (in a conference call intended to inform the market), then he can clarify it's meaning. I have not received a reply yet, and am not even sure whether to expect to.'
Hotcopper Corporate Spotlight would most likely be money well spent as opposed for example to a Shareholder mail-out trying to convince Shareholder to vote in favour of the 2016 AGM Resolutions, which ultimately resulted in the withdrawal of Resolutions 5, 6 & 7!
OBJ Management in the past typically have not responded well to any Shareholder suggestions/requests that are an attempt to create transparency, understanding and increase the knowledge base for all. I don't feel that even one of my personal suggestions has been taken seriously in the last 10+ years and the same goes for any other suggestions from my fellow Shareholders that I am in contact with outside of Hotcopper. OBJ management of the past in alot of cases has demonstrated a banal attitude when dealing with Shareholder suggestions. So in basic terms, OBJ Management of the past has been unwilling to keep an open mind in relation to genuine & sincere Shareholder concerns (which are as Steve Schapera recently pointed out in the Conference Call - are concerns of the Owners of OBJ).
There is a wealth of Collective Knowledge amongst existing OBJ Shareholders, who after more than 10+ years have garnered an intimate knowledge base and understanding of OBJ's various Technology Platforms. From this Collective Knowledge I can confidently & intentional make a calculated suggestion that Steve may even be able to use this passionate Knowledge base to assist in creating his Olympic Sales team. OBJ's largest Shareholder is one such person who may be swayed to get involved, who has a wealth of International Sales Knowledge and one who is closely aligned to the success of OBJ. I would also wholeheartedly put my hand up, previously being ranked in the top 1% of one of Australia's largest Media companies sales-force. Admittedly 'Sales' is just one piece of the 'Olympic Team' puzzle, but at this juncture of OBJ's evolvement...a most necessary one as Steve already admits.
We all want to ensure that OBJ do not continue to repeat any transgressions of the past and ensure that OBJ's Technology's are a future ongoing success.
I trust Steve Schapera is still reading Hotcopper and is slowly starting to feel the length & breadth of Shareholder concerns and that his personal 'Strategic Review' is still a fluid one that will ultimately allow for these much desired and needed changes to be incorporated. As OBJ is not the only professional interest of Steve Schapera, it is very necessary that any initiatives launched by Shareholders also be meticulously followed up with OBJ's full-time staff, including but not limited to OBJ's expected new Chairman/Chairwoman.
OBJ Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
(20min delay)