I think your statements mean a lot, and from my personal contacts with both institutional investors invested in our company and fund managers that would like to invest. It's apparent that there is a checklist that needs to be attended to. I'm sure company officials are working on it but it seems to take to long in my view. I still believe almost everything has to go through Solomon, therefor I also believe we are currently and still limited by his priorities and they are still actual operations not the fundamentals for capitalizing on our growth opportunities. Which in my book comes from the other areas that needs attention, getting a corporate governance structure in place that harmonizes with "the code" in the Nordics, limitations in Solomons mandates that comes from his A-share structure, an enhanced credible board with some real power, reporting structure, listings, increased funding and additional resources in the IR/PR department, increased transparency. These things together will create institutional interest and fundamentals for a serious financing which in my view is fundamental to increased shareholder value. Until these issues has been attended to we will have a hard time to get a valuation in line with our peers even if we list on a mainlist like OSE. Our big potential in PPS increase doesn't come from our organic growth pace. 20 or 30 percent is not the issue. We have to take actions to cut our valuation discount. At a very conservative p/e of 3 fully dilluted its not a question of growth rate, its a question of credibility and actions enhancing that credibility. In my view these areas deserve an increased and urgent focus and attention from Solomon.
Therefor I'm looking forward to the day when we actually have a company with officials with clear roles and mandates running their part of the business in accordance with their professional competence and with budgets allowing them to be effective. I'm afraid we are still not there because otherwise we would of seen much more actions and results in the areas mentioned above.
On the positive side I'm happy for the great operational recruitment and that we got some operational updates through a PR last week. I hope this is the beginning of a new trend with frequent operational updates. This stock is newsdriven and there is a lot of story's to be told since we are actually doing operational progress literally 24/7 in many business segments.
Send from a flight to Nice, looking forward to my last week of vacation with sun and great wines!
Peace!
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