ADA - Adacel Technologies

[galumay]

ADA to delist, one of the most egregious statements I have ever seen from an ASX listed board. (and thats a low bar.) The fact that a #shitco like ADA has been unable to deliver consistent and decent metrics for revenue growth, earnings or dividends while running a dismal balance sheet with more debt than equity, is likely the main reason the share price and volume is so low.

I would say the recent trading price implies a valuation that is consistently and materially higher than the true value! To suggest that if it were unlisted the company would be valued on its fundamentals will likely prove to be true at some point - but not in the way they imply! The "current soft capital markets for small and micro caps" have been a very happy hunting ground for investors who avoid companies like ADA.

I suspect Thorney Group are behind this, marking their own homework is a big incentive.

 

[peter2]

Delisting is in the best interests of the shareholders. I don't think so as they sell out to realise what's left of their capital.

The board fails to understand that shareholders want better business performance.

 

[galumay]

Utterly disgraceful behaviour from the board, the directors have all gone on my black list to make sure I never invest in a business they are involved in. Heartbreaking for loyal shareholders who had supported the business for years. Board just smoked their capital.