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clock Created with Sketch. 03/03/15
09:27
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Originally posted by MichaelOliver
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NewSat lost nearly a third of its total market capitalisation on Monday with shareholders dumping the stock as the company responded to reports over the weekend that revealed evidence of poor governance practices and out-of-control spending at the satellite communications company, with a statement that admitted the board chose to disregard an internal report that made these findings.
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We have more problems than we can poke a rocket at lately soOf the minor shareholders who Fairfax Media contacted on Monday, none wished to comment publicly. One said the company's response to the Fairfax Media reports was "embarrassing", while another said they were "underwhelmed "..minor " shareholders could keep our dirty linen in-house and use what they know will be a reporting opportunity to add some positive aspects to the situation. While no need to lie "underwhelmed " & "embarrassing " could have been better phrased knowing it will be in the National press. "positive step " & "quick to respond " for instance both say nothing but at least don't add further fuel especially when it comes from people with a financial interest.
