On October 6th 2006, naseba listed with a market capitalisation of 24,600,000 euros. This valorisation was done by a neutral auditor using comparables such as competitors and future growth possibilities, etc.
I had a personal problem (conflict of interests) with someone I was once very close to - someone who helped get naseba to the next level ? to say ?F ?you Scott Ragsdale?? this person, a multi multi millionare ?dumped his shares ? and within a few days, naseba share price went from 12 euros a share to 7.98 euros a share. On paper, I personally lost over 5 million euros in one day.
I remember speaking to one of my new board members on the day that all this happened ? and he said to me ?welcome to the big boys??
I am proud to point out the following ?
Since we listed, in less than 12 months? we have acquired 51% of the largest conference company in China; we have increased revenues by 150%; we have opened successfully offices in Prague and Cape Town - both massively, expanding markets; we have tripled the number of events from 2006 to 2007; we acquired the ultra marathon company, Ambition Events ? which has perfect synergy with our overall group?.
And our market value dropped 8 million euros when we have achieved so much since listing??? There is very little volume of shares being traded, therefore, the drop in share price does not mean that the market has less confidence - it suggests that the people who own large amounts, me included, believe in the future and are not selling.
None of the 4 main shareholders have sold any shares.
My pride was severely touched ? but when I mentioned this to one of my biggest share holders, he reminded me that we do not care about the share price today ? we care about the share price in 3-5 years.
Everything we are doing as a group today - is completely focused on making naseba razor sharp and very profitable ? so in the future, everyone will know naseba ?? naseba is just starting our climb.
To get to level I want to go does not happen over night.
The past 10 months, especially, the past 4 have been an amazing learning experience ? no Harvard MBA could have taught me what I have learned this year.
In the end ? we will win.
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