A great story to tell
when Seelan Gobalsamy first joined the board of Omnia as a nonexecutive director in September 2018, the diversified company that supplies chemicals and specialised services and solutions for the agriculture, mining and chemical application industries was in dire straits with its debt, and holders of the stock had lost confidence and gradually sold it en masse.
By 2019, Omnia’s share price had dropped by more than 85% over the preceeding five years. While Omnia saw a steep increase in its share price at the end of 2017 after announcing higher-than-expected profits and a slight increase in sales, the opposite happened when its full-year results showed a slump in profit six months later.
