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We’ve only gone and done it again!
I think a lot of people are put off investing due to the consultancy agreement with Shellbay which results in a large regular cash outflow and dilution. The directors were clever enough to base the performance fees on Net Asset Value rather than the share price. I think this agreement needs to be amended to preserve cash and then new investors might be attracted to invest in the company
Your right. This leeching of money every year has to stop. Jim melon is taking the pee. It came in after I first invested it was bad then, now in this day and age its a joke. All Qs at the investors QnA should be on this matter to get it stopped.
Well, then let's get organised and do something practical. If we truly believe that the fee structure is holding back our investments, then let's get organised to file a shareholder resolution for the next AGM in 2025. That at least can apply some pressure and be the focal point for any shareholder activism we undertake in the next year.
Well, two points here.
Where is this form? What's the official process? How to prepare.
We can create a Google drive shared folder if everyone is willing to share an email ID for this porupose in here.
Second: in this case we have to consider what the possible reaction could be from the directors. It's a bit a game theory.
It's not just 52 week low but all time low to be precise.
The company did a 5p placing in June 2019 so not all-time low
If this slide continues will they use what money is left and buy our shares back?
Or they let it run into the ground and new agrarian buys it for peanuts,we get nothing?
Or one or two of these companies actually goes to market and makes money and we fly..
Or we use money to keep lights on and pay Jim every year,for years....
I think the slide is because people can see the cash won't last very long, as the company will want to participate in the funding rounds of companies it is invested in and avoid its stakes being diluted, and is worried about another fundraise. That's why I have been concerned about the large amounts paid to Shellbay. I think the rewards to Mellon and the other directors and employees should have been structured differently in order to preserve cash.
I just can't see a raise getting away. Who and at what price. And would it recover. Like 100cups said. We might need to come together to get a grip on what's happening here. This should be a popular stock for newer investors or animal lovers but nowt happening just money grabbing every year.
Completely agree,panda1.
@dearmal
For collaboration I can create a accessible Google sheet and share the link here.
We need to understand and use the system and applicable process that supports creating some pressure on the question around Jim's fee and the structure.
Who is in for it?
Totally opaque and pointless. Have been in here for 2 years and seen this decline week after week, month after month. This us a cynical abuse of investors and there’s no other intention than to suck all the money out of them it seems.
@dominicusbenicus
Appreciate your offer
I have been emailing them about slide, lack of care and fees but nothing of significance back.
We have another 30% to fall before we hit the initial SP, which honestly - might actually happen at this rate. That would be an 87% decrease from it's all time high in May 2021.
@Dearmal
I did the same. I experience Anthony Chow to be very responsive so far even to critical questions . Also they added another section to their homepage regarding the fee structure. not really adding lots of information. However at least they try.
Another strategy I want to suggest is getting in touch with the major shareholders and ask how they see the situation and especially the fee structure. And then whether they would be willing to push the topic using their leverage. Because from what I know Anthony cares a lot about them and holds regular calls with institutional investors in order to keep them happy or aquire new ones.
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