I am a shareholder, probably along with the rest of you, with a loss of value to my shares.
I have been watching with interest the to-ing and fro-ing of the information between both parties in this boardroom brawl. Today I have received the latest batch of information from the Timoney/Herlihy camp.
I notice that other shareholders and/or JVP’s are requesting a detailed plan from Timoney/Herlihy. Is this latest batch of printed matter purported to be the detailed turnaround plan from their camp?
Out of 61 pages of information, I count 2 pages that form the turnaround plan. The first page is in bullet point form, the second page just naming the proposed directors to be appointed. Hardly a detailed plan in my opinion.
The other 59 pages – yes 59, count them!!, seem to be focused on bagging the opposition. I hope our shareholders money is not paying for this rubbish. I notice this has come in a Smiles Inclusive postage paid envelope!
One page, “Appendix L”, is an email where 90% of the text is blacked out. How can we possibly consider the context of the remaining text with so much blacked out information?
It all smacks of misinformation, mistruths and deceit.
I have also spoken to a JVP who has told me that there is a turnaround plan that the current directors/CEO are proposing, which consists of 20-30 pages of detailed information of their plan for the future. This apparently includes information on cash/revenue, debtors, patient care, marketing, sales, solutions etc. etc. This sounds more focused on the turnaround of the business.
In general terms and summary of what I have witnessed in the past 2 months:
1.A 10 point “inconvenient” fact list from Timoney/Herlihy in relation to the current directors.
2.A response to this list from the current directors addressing those facts.
3.A 21 point questionnaire put to the Timoney/Herlihy camp by Jon Hamilton.
4.No response or answers to any of the 21 questions from the Timoney/Herlihy camp.
I am not interested in what one camp thinks of the other or the juvenile bagging that is going on, I just want to know what the detailed plans are for the turnaround of this company and the return on my diminished investment?
It seems to me that the current directors have responded to whatever is being asked of them either by the Timoney/Herlihy camp and/or by shareholders with a turnaround plan. Timoney/Herlihy have not provided a detailed turnaround plan nor answered any questions put to them from the shareholders.
