AGM – DisappointmentWent all the way down to Vancouver today for the Annual meeting. What a disappointment! Waste of time!
The meeting can be summarized as follows:
- Fernandes opens the meeting and announces himself as chairman
- Fernandes hands the meeting over to legal spokesperson to conduct the formal part of the meeting.
- Legal person performs legal duties.
- Legal person hands meeting back to Fernandes.
- Fernandes closes the meeting.
That’s it! Nothing more!
No presentation on the company’s progress, no explanation of new developments, no description of the vision and strategy. There was not even an explanation as to why there was no presentation and no opportunity for shareholders to ask questions (unlike a previous AGMs I had attended).
I had a couple of questions (non offensive) on possibilities for their technology. I still have them!
What is wrong with Fernandes? Is he scared he may get a tough question? Does he dislike talking the the people who provide him money? Does he want to take the company private?
This meeting was a disgrace. Something undesirable may be going on behind the scenes.