I understand the concept of not giving details or progress to competitors. I can understand the amount of backlash they likely received following the events of the past couple months or so.
But did Mika give IR an out to limit contact and communication with shareholders? Why pay them at all if they are going to be providing two releases a year plus any additional following significant news. I feel slighted and insulted as a shareholder of the company. If we are to contacted on such a limited basis this board will be a crypt unless there's something I am missing. And by the sounds of it we're looking at the end of 2018 if we're being reasonable.
I am looking for discussion on this. I am a stock owner and purchaser at these SPs as well as prices the past several years.
As a post script, is $9k/month reasonable for an IR company? I attached the Wiki definition below because I wanted to confirm what IR actually does (thought it may be like HR which ultimately protects the company's interest). We have seen them failing to communicate with shareholders, failing at achieving fair valuation, failing at marketing to the financial community (unless this PO is considered a success by some insane metric), failing at being effective communicators (both one-way and two-way - their NRs are lacking any positive spin or marketing pizzazz as we saw from some posters' comments), etc. Would it be more beneficial to hire as needed?
Investor Relations (IR) is a strategic management responsibility that is capable of integrating finance, communication, marketing and securities law compliance to enable the most effective two-way communication between a company, the financial community, and other constituencies, which ultimately contributes to a company's securities achieving fair valuation. (Adopted by the NIRI Board of Directors, March 2003.) The term describes the department of a company devoted to handling inquiries from shareholders and investors, as well as others who might be interested in a company's stock or financial stability.
