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  1. #101
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    Quote Originally Posted by Southern Lad View Post
    AGM notice is finally out, no business of any particular note. Guess the company has just been busy getting on with creating value for shareholders.

    I see another 200,000 shares traded at $1.20 this morning, so someone is building a sizeable stake.
    And last trade at $1.30. I guess I've got to treat this as one that got away.


  2. #102
    percy
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    Quote Originally Posted by macduffy View Post
    And last trade at $1.30. I guess I've got to treat this as one that got away.

    Not so..............Still 70,000 available at $1.30............................................. ...lol.

  3. #103
    percy
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    Well there was a window of opportunity today at $1.25.
    Trust it was a cunning Sharetrader member who took it.

  4. #104
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    I note that Rangatira Ltd disclosed a shareholding if Syft worth $0.1m (rounded) in their March 2020 annual report. Maybe they have continued to build on their shareholding stake since then?

  5. #105
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    Quote Originally Posted by Southern Lad View Post
    I note that Rangatira Ltd disclosed a shareholding if Syft worth $0.1m (rounded) in their March 2020 annual report. Maybe they have continued to build on their shareholding stake since then?
    Very interesting.
    I would think they will have added to that.

  6. #106
    percy
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    I will be watching the agm on line tomorrow afternoon.

  7. #107
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    You and me both, Percy!! I like the progress of this company.... long may it continue. Tomorrow will tell a bit more of the story.

  8. #108
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    Perhaps I may have learnt something had I attended the agm in person.
    The live stream was extremely disappointing because of it's poor quality .
    https://usx.co.nz/uploads/paperclip/...pdf?1601006402
    Last edited by percy; 25-09-2020 at 03:39 PM.

  9. #109
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    I agree it wasn't the most professional 'stream' I have seen.....

    But SYFT still seems on track to make an extremely valuable inclusion to a portfolio. Their approach to balancing R&D and commerce impresses me, and the personnel they have with the enthusiasm....... They don't have many "runs on the board" at this stage... I hope I have enough years ahead of me to see this one out! If 'one other' University-started company had approached their commercialisation with the attention to all aspects of 'business' ...
    Overall, I was pretty impressed by the presentation, and their forward projections.

  10. #110
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    Doug Hastie's reappointment as a director failed to pass at AGM and he has resigned as CEO:

    https://usx.co.nz/uploads/paperclip/...pdf?1601264109

    29.4 million votes against suggest there was an orchestrated campaign to remove him.

    Presumably frustration with a lack of substantive progress.

  11. #111
    percy
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    He made a funny comment during the meeting along the lines "if you don't like what I am doing vote against me",which a lot of people did.!!
    I do not know what must have gone on behind the scenes, but he was responsible for turning "a dead duck into a going concern.".
    However, as you pointed out there must have been "an orchestrated campaign to remove him".Considering he held a large shareholding it must have been very well organised,and included major shareholders..
    I think we shareholders are lucky having Al Monro as chairman to step into the CEO's role, with his back ground to guide the business.
    I expect the share price will be under a lot of pressure with Doug Hastie wanting out.
    We live interesting times.
    I will hang onto my shares as I feel the business has excellent prospects.
    Last edited by percy; 28-09-2020 at 07:27 PM.

  12. #112
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    Bugger!!!! I am very sorry to hear of this internal strife. When this type of power play occurs there are two 'camps' wanting to go in different directions. I have been impressed by the way SYFT has produced their products to international standards, and have been very involved in R & D, but also ensuring that the product has a marketing stream - science and sales moving in a complimentary manner. (What if PEB had the same approach...?)

    SYFT is growing - and now I think the battle is Science v. Sales. I still think this company can, and will, become a market leader in its field.

    I hope they sort the difficulties out quickly. My sympathy also goes to Doug Hastie, who has grown the company to its present stage. Sometimes leaders can overstep the mark.... Best wishes to all.

  13. #113
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    Hmm the last two presentations I went to gave me the feeling Doug thought it was his show and not that worried about shareholders wanting to see value reflected in the near term. So fell on his sword so to speak. Interesting times.

  14. #114
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    Quote Originally Posted by Southern Lad View Post

    29.4 million votes against suggest there was an orchestrated campaign to remove him.
    Looking at the ten largest shareholders detailed in the 2020 Annual Report we have:

    ACC 11,670,738
    Doug Hastie 11,253,981
    Whale Watch Kaikoura (Ngai Tahu) 8,725,000
    Douglas Ziffel & Snoot (New York) Ltd 4,400,000
    Collins, Dwyer & Bill Parsons Trustee Ltd 3,000,000
    Wing Kai Leung 2,168,783
    Iconic Investments Ltd 2,108,706
    Opihi Investments Ltd 2,062,447
    Forsyth Barr Custodians Ltd 1,277,044
    Maarteen Janssen 1,223,505

    29.4 million votes against is a very substantial voting block.

    Does the dissatisfaction explain the delay in the AGM notice being issued as the protagonists and Doug Hastie sought to work out their differences?

  15. #115
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    Would have taken a lot of organising getting that voting block.
    Would really have needed No.1 and No.3 shareholders onboard.
    The fact the vote was not a show of hands tells me it was not unexpected.ie The chairman did say the results would be announced on Monday.
    No.1 shareholder has had a lot of impute in the business.ie have a director.
    It would appear it was Doug's way or the highway.Shareholders voted the highway.
    Last edited by percy; 29-09-2020 at 07:48 AM.

  16. #116
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    The Herald reports that ACC, the largest shareholder, was behind the power play.
    The head of ACC private markets lost his board seat last year so who knows what has been going on...

    Disc:- Long time shareholder

  17. #117
    percy
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    Well Doug's departure has spooked the market.
    One buyer for 661 shares at 60 cents.
    Lowest seller with 50,000 is at $1.25.
    It is a times like this, we are reminded of that great definition of a long term hold......A short term one that did not work out......lol.

  18. #118
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    Quote Originally Posted by percy View Post
    Well Doug's departure has spooked the market.
    One buyer for 661 shares at 60 cents.
    Lowest seller with 50,000 is at $1.25.
    It is a times like this, we are reminded of that great definition of a long term hold......A short term one that did not work out......lol.
    not wrong there

  19. #119
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  20. #120
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    A good announcement from SYF, seeking to provide reassurance that there is nothing to see here following the dumping of Doug Hastie.

    The Board have strong credentials and experience. Damien Fischer also looks like a good appointment. Interesting that the announcement today also has Nicole Robinson’s name on it, suggesting she is onside with the change (or maybe I’m reading too much into that?).

    Im hopeful that a new CEO will accelerate the commercial progress of the company. Fingers crossed they can recruit a candidate with the appropriate talent, connections and drive. Through an equity sweetener as part of the remuneration package, there should be plenty of upside if the new CEO can drive shareholder value.

    Will be interesting to see where the share price goes over the next few months, however Doug Hastie’s stake is a large overhang until it finds a buyer.

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