Have to admit does'nt feel good.
McKay/zyl board is playing some very interesting tatics ...akin to those of a 'Bush Lawyer'...imo.
Expect some fireworks over the SELECTIVE resolutions?
Very cunning tatics to exclude all the resolutions ....suggests the board is 'running scared'?
And certainly is not being transperant?
The proposed resolutions would see a board of 7 (if successful) and will not offer any positive outcomes as it would be them (current) directors against the new....hardly workable?
What about the cost savings of 1.3mill.
Questions for current board (and McKay if you are looking?).
Why has a work force of approx 15 prior xmas now only see about 6 people at the offices on a daily basis?
Why have employees been told to set up their own company and work on contract..some now only working 2 days a week or as work is 'allocated' to them. Hardly seems the thing to INSPIRE people to support the company? How many ex staff have been retrenched? What is the current FULL time staff level (non contract)?
Why are the occupancy expenses up from (61,836) 31/12/07 to (101,990)31/12/08? Especially if staff numbers actively working in the building are not there?
Have past disputes with AVNET been resolved or is there real concern here that AVNET are unhappy with the current state of play?
Where are the SALES/REVENUE?
The reputation of Zyl is in a shambles and without a detailed plan from the current board who are basically saying ...TRUST US.... Well - NO WAY HOSE!,
Not an inspiring situation at all...I definitely will not buy until all above is explained in detail. I will not accept airy fairy blue sky commitments that we are doing our best in India etc anymore ....that was part of the reason I quit the stock in disgust last August!
Wake up! as a board your responsibilty is to look after all shareholders...not just protect your JOB!
Enough from me or I'll end up being moderated for saying what I'd really like to say and share.
Absolutely disgusting behavoiur...resign / have a spill let the shareholders decide tha fate of their company that you are obliged and trusted to look after.
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