EWC 0.00% 1.6¢ energy world corporation ltd

Walk of shame

  1. 137 Posts.
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    As the 2018 AGM is only days away, I have reflected on what the directors have told us and assured us in the past AGMs. On reviewing this I have come to the conclusion that in my opinion that the directors should enter this years AGM with their heads bowed down and enter in a walk of shame. The current sp 14c is a 40% FALL from last year,it also represents a near 90% LOSS from the last public capital raising BEFORE INFLATION adjustments.
    In the last year or two we have seen EWC dropped  from the ASX 200 then the ASX 300 and the the International Small cap Index. The 3rd largest shareholder dumped the stock and into the lap of the stock shorters.
    Year after year the directors have assured us that the start up and fianancing of the Sengkang and Philippines  projects was a matter of weeks or at a maximum of a few months away. The 2014 AGM  Stewart Elliott stated ,we look forward to the projects starting up midway next year. 2015 Brian Allen stated that the financing for botb projects was " IMMINENT " Yes that was 4 AGMS AGO!! Since then every year they have stated in a patronizing manner to shareholders that yes thankyou for your patience but we assure you that now we have turned the corner and expect the projects to be opperating within a few months.  
    Then one must reflect on the 2008 AGM when Stewart Elliott  declared that the Sengkang LNG equipment  would be shipped in the first or second  quarter of 2009 and the first 500k tpa ton of LNG would start within 6 months  and each additional  500k tpa unit every 6 months after that . only to be informed via the media that they indeed not even have the required or appropriate approvals.
    Shareholders have had a gut full of their dismissive non communicating condescension, seeing their capital investment destroyed year after year via this management's inabillity to achieve any stated milestone in the last many years.Every year there has been some excuse and its always someone elses fault. Yes that can happen ,but year after year for nearly 10YEARS. Seriously  Sengkang was supposed to be producing  2mill tpa LNG 8YEARS AGO according to them. How many 100s of millions, actually Billions of $USD  shareholders have forgone . 
    Next Thursday is the 2018 AGM I can only wonder if they are allowed to again serve up a regurgitated doctrine of promised achievement or will they for once have the honest fortitude to give the long suffering shareholders real answers and real producing milestones ,enough excuses management, leadership is about real achievement not <90%
    Shame Shame Shame  
    Just my opinion. 
 
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