Following numerous, and increasing, requests from disgruntled and very concerned shareholders, the Malta Association of Small Shareholders considers that perhaps GO plc might have the honour of being the ‘Greatest Corporate Disaster’ Malta has had in recent history. And above all, the small shareholder has been once again raped of hard earned money.

Shouldn’t someone be held accountable? Will the members of the Board of Directors of GO plc consider tendering their resignations or do they still have no qualms about remaining on the board of this Malta Stock Exchange listed company?

Even minute indicators point to bad policies and stifled management coupled with the rough deal the end users are being given. Why is GO plc forever raising its prices and losing market share to its competitors? Why is customer service not as prompt as one would expect from such a company? Why are no sizeable benefits granted to shareholders as they had been years back? Will all the recent developments lead to another rights issue and a significant dilution in the holdings of small investors, unless obviously they are ready and able to fork out more money as in the case of Middlesea Insurance?

As a concluding note, the Malta Association of Small Shareholders feels that the persistent throwing of good money after bad into the bankrupt Greek subsidiary, and the transfer of the Qawra land, do little to inspire investor confidence to say the least!

Frans Buhagiar

Malta Association of Small Shareholders