RE:new here, I like the Business, I don't like the governanceVery valid points, essentially 3 people decide for the whole company. In June they said they wouldn't sell anymore shares and said they are committed to the company. They worked hard the last 20 years to revive this company's financials and stock price, so as a shareholder I don't mind them being a bit selfish this one time for securing their retirement fund. Their track record has been excellent so I'm trusting their word. I still feel very confident holding the stock because of the business fundamentals, but it's reasonable that new investors would be reluctant to start a position given what happened in June. I think it's important to note that earlier this year in February, the board lost their father and founder of the company, Giacomo Paschini. His passing could have influenced some of their personal life decisions.
Having said all that, they still own 40% of the company. If they pull off a retirement fund type sale again, investors including myself would quickly lose trust and the stock price would surely tank close to zero, as no one wants to invest in someone else's piggy bank despite healthy cash flows. And I'm sure they wouldn't want to see 90% of their net worth plummet, so their interests are still very much aligned ours. I'm betting that this is a one time thing, and with time, they will gain back investor trust. I could be wrong, I guess we'll see