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LUM 2.3¢

naughty boys !!!

  1. kahuna1

    1,006 Posts.

    Gotta love this company ....

    Now today we saw a new director appointed to the board .... first announcement by the company since the share price more than halved in the last month. No comment on that !!!!

    This new director just confirms my opinion of the company ... why would you rally a share price 15% on the back of some unknown director ??? I don't know ....

    Was just reading the announcement and not a single word about the new director ... did he work for LUM all along ?? If not could someone explain the 500,000 options with a 31 cent strike price expiring 24/1/2008 ??
    According to previous announcements these are employee options awarded to employees of LUM ...
    In fact 1,275,000 were awarded to employees on the 28/1/2003 ... of these 500,000 went to our supposidly all new director .... why wouldn't they mention he was already an employee of Lumacom ... or even a past employee ???

    In the press release Mr Rod Sala says ... for the past two years Tim has been a great champoin of our product ... blah blah blah ... not one word about being an employee .... no other way to explain the ownership of the 500,000 employee options ....

    Just read the 2002 and 2003 annual reports quickly ... no mention of the mystery employee awarded 500,000 options .... couldn't see his name on a quick read ...
    2003 had Rod Sala .... Oscar Sala and last but not least Mickey Sala as the three most important employee's ... shoot the annual report even mentions the company secretary but no Mr Ingram ...

    If you are silly enough to have shares in the company even now ... call them up an demand an explanation ... how about being caught in a small fib ... of course the new director has been a pro LUM person for the last 2 years ... he was an employee according to past notices to the ASX !!!

    I had my doubts before ... thought no ...thought it must be me ... this is the last nail in the coffin ... normal people in business do not behave this way ... their is a difference between putting a positive spin on something and failing to metion a pertinent fact !!!!

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