Resignations, page-29

"The S/P will move when appropriate to do so. Panic is just being silly."

Can you please tell me 'who' will determine 'when it is appropriate to do so'?
I can only think of a Morrison and Roche retirement and a desire to spread the families investments wider than just one company.
Who can blame an insto for NOT investing in SHJ?
They need to demonstrate their acumen in increasing the net worth of their investors and an investment in SHJ looks deplorable.
Let's summarize it since listing:

(a) Preservationof capital is first and foremost.Hasn’t happened. $1 in May 2013 is now worth 95c and this despite inflation.Even if the share price matched inflation, the share price should be around$1.23 at December 2022.

Perhapsthe Australian ASX Small Ordinaries (XSO) is a more appropriate benchmark, andit has moved from 2,133 in January 2014 to 2795 – a 39% increase. And Shine hasgone backwards by 5%!

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(b) Investors arealso entitled to a decent return given the risk involved.

Yes,we have received an average of 3.87% pa over the 9 years. But a 2013Australian 10-year bond had a yield of 4.241% and Shine has a risk factor fargreater than the Australian nation.

At one time Mr Market deemed it appropriate for SHJ to have an 'appropriate' share price. Back in June 2015 the SHJ price was $2.46. Since then it has fizzled back to 95c to $1 because of market distrust and lethargy. Read: distrust & mistrust in the SHJ leadership team. So, no, its not alright for the Board to state they they don't care what the market suggests the company is worth, they are busy running the business.

Yes yes, I understand the awful knock on effect of Slater and Gordon and Quindell in the UK which makes me think - why go to the UK, let's concentrate on becoming the biggest and best frog in the ANZ marketplace ( as measured by ROCE, EPS and divs per share.

Again, I must state that Mr Market has valued the 81c reinvested back into the business as being worth minus 5 cents (list price of $1 less the current SP).

If the company would speak out to defend its reputation (as it should) then, surely they should speak out about the value of the investments made to date. They may not be worth the 81c (probably close to though) but they are certainly worth a lot more than minus 5 cents. This is where the Board should be educating the marketplace.

Frankly, I think the only way to can get this message through is to get an invite to Morrison's next fam-bam BBQ and really drill him over the cooking of a damn good wagyu steak. Failing that, its got to be a chat with a modern day Erin Brockovich.