Lots of focus on ARR/CARR at the AGM with figures all pointing up (except for the share price). I think Mike said 75% of OPEX currently covered by revenue.
Stephen Mayne asked what is the reason for the large protest vote and the Chairman basically said he couldn't read voter's minds. Well I think the reason is quite obvious - the share price is down the toilet and you expect shareholders to approve soft targets??
The board sees current share price as not reflective of the operations and undervalued so questions were asked if a buyback was under consideration. Chairman didn't give the indication this was likely imo as funds could be better used to reduce operational expenses.
So someone else asked why has there been no insider purchases if the share price was considered undervalued? Chairman used the excuse that M7T currently in blackout period so management can't buy any shares until after the AGM so let's see what happens after the AGM..
M7T Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held
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