The message to Summerset from analysts on its disclosure efforts when it presented its results last week is: please try harder.
Don't get me wrong; Summerset's results were pretty good, beat most analysts' expectations and it remains most analysts' preferred stock in the retirement village sector.
The company's response to the debacle that beset the industry pioneer, Ryman Healthcare, more than a year ago now was to disclose more, a mindset that is wholly admirable, in my book.
But its directors do seem to have a bit of a tin ear – that's somewhat surprising since I definitely rate the directors I'm most familiar with, chair Mark Verbiest and Fiona Oliver.
When chair of Freightways, I saw Verbiest give one of the more illuminating presentations of a company's affairs and opportunities, while Oliver staunchly defended minority shareholders in Tilt Renewables when major shareholder Infratil attempted a takeover on the cheap.
Oliver and fellow independent directors Anne Urlwin, Phillip Strachan and Geoff Swier won the New Zealand Shareholders' Association's Beacon award in 2018 for their efforts on behalf of minority shareholders, an award richly deserved, in my view.