Many have to'd and fro'd over the credentials of this company, allowing the stock's recent performance to sway their view on the financial integrity of the group. Fair enough, but have these same people considered the following.
The company grabbed 3 minutes of air-time on the ABC before its listing last year. An interesting comment was made with regards to corporate governance of internationally owned entities, with Sino Forest, a well known multi billion dollar scam, cited as an example of the ease that some companies can get away with outright fraud right in front of the public eye. The snippet also shows footage of some of the Pandist outlets that Sunbridge owns.
For those who aren't aware, the chairman of the group, Wayne Vivien Reid, has the following background.
Would a bloke with such a decorated history put his name to a scam? There's been quite a bit of discussion related to the other company's directors, yet very little mention of the social and fundamental business experience that comes with having a chairman of this calibre. This interview with Wayne Reid was attached to another thread the other day, but for those who missed it...
Finally, this interview on SkyBusiness features company director Andrew Plympton discussing the 5-6 year story behind the compounding growth of the business.
Like Reid, he has a strong and credible background, including heavy involvement in sport and business administration activities. For example, Plympton was appointed to the ASC Board in January 2011. Since May 2011 he has served as the Chair of the ASC Finance, Audit and Risk Committee and is a member of the ASC Governance and Executive Performance Committee. Has also been a board member of Newsat, and small cap minnow Shoply, for what its worth.
Food for thought I would imagine.
SBB Price at posting:
7.5¢ Sentiment: None Disclosure: Held
