As a long term bear of Kenmare (KMR) I cannot say that a woeful AGM statement today comes as any great surprise. What is marginally more surprising is how its shareholders just lap it all up and come back for more. They are financial sado-masochists. At the AGM today the stock holders will have salivated as they begged Managing Director Michael Carvill “beat me, whip me, thrash me with some broken bit of machinery from Moma, piss all over me and then take my cash for your mega bonus.” Mike then got out his dire AGM statement and the punishment began.
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