RELATIONS INVESTOR

Southland has gone public! In real world terms, we asked our CFO, Cody Gallarda, Director of Corporate Development & Investor Relations, Alex Murray, a few questions about what this all means.

WHAT DOES IT MEAN FOR A COMPANY TO “GO PUBLIC”?

A company becomes a public company when it transitions from being privately owned to having its shares available for anyone to purchase on a stock exchange. Shares, also known as stock, of the company can be purchased by any individual or institutional investor. Southland’s stock is listed on the New York Stock Exchange. Being listed on an exchange provides a public market where investors can buy and sell shares, and own a part of the company.

WHAT ARE YOU EXCITED ABOUT & WHAT ARE SOME OF THE BENEFITS OF BEING A PUBLIC COMPANY?

There are several benefits from being public that can help drive growth and value, including increased visibility and public recognition, which can enhance brand, reputation, and credibility. Being public can also help us grow more seamlessly, and give employees more opportunities to pursue their professional goals as the company grows. We are also excited about the opportunity for employees to own Southland stock, and potentially personally benefit from long-term company success.

company, but now as a requirement, it is important to keep critical information (bidding info, new project awards, financial performance, etc.) confidential.

WHAT MAKES A COMPANY’S STOCK PRICE FLUCTUATE SO FREQUENTLY?

There are numerous factors that can impact a company’s stock price. These include, but are not limited to:

1. Company-specific news and performance: The company’s financial reports and management’s commentary about the outlook for the business can impact on the price. Company news about new awards, mergers and acquisitions, and partnerships can also impact on the stock price.

2. Macroeconomic drivers: Broader economic conditions and trends can affect the stock price. Factors such as interest rates, inflation, GDP growth, and geopolitical events, can impact investor sentiment and market outlook, leading to fluctuations in the stock price.

3. Investor Sentiment: Investor sentiment, or market psychology, plays a crucial role in stock price movements. Sentiment can be influenced by factors like investor confidence, risk appetite, market speculation, and trends. Positive sentiment can drive the price higher, while negative sentiment can result in declines.

It’s important to note that stock price fluctuations can be influenced by a combination of these factors and can sometimes occur due to market speculation, rumors, or irrational behavior. Additionally, stock markets are inherently volatile, and short-term price movements can be unpredictable. For these reasons, it is vital that we all remain focused on what we can control and strive to be the best at what we do. We, as a company, need to remain focused on the long-term goal of safely constructing profitable projects.

WHAT IS “SOX”? HOW DOES IT AFFECT THE COMPANY AFTER GOING PUBLIC?

The Sarbanes-Oxley Act (SOX), officially known as the Public Company Accounting Reform and Investor Protection Act of 2002, is a United States federal law, enacted in response to major corporate accounting scandals, most notably the Enron and WorldCom scandals. It was named after its sponsors, Senator Paul Sarbanes and Representative Michael Oxley. SOX applies to public companies and Southland will have to be SOX compliant. Boiled down, SOX requires us to have documented processes that we follow, and we will be audited on those processes to prove we’re doing what we say we do.

The most significant impact of SOX on Southland will primarily revolve around enhancing internal controls over financial reporting. As a privately held company, Southland has already implemented numerous internal controls, such as our monthly job cost reports and calls, invoice approval, capex approval, etc. While there will be additional requirements, many of our existing processes will remain unchanged.

The first thing that strikes you while talking with Kwadwo Osei-Akoto, are the rich warm tones of Africa in his voice. Tones, that seem to permeate all aspects of the man, his work and his life.

Resolve

The Early Years

Growing up in Ghana, a young Kwadwo first dreamed of being a pilot, though early on, this dream was put to rest when his vision was found to be less than 20/20, an apparent requirement for piloting. As his mother was the resident midwife to his village, and surrounding villages, Kwadwo found himself frequently in the delivery rooms, being coached and schooled by his mother for a career in medicine. By age 15, Kwadwo knew beyond a shadow of a doubt, that he absolutely did not wish to be a doctor. Instead, the dream of being an engineer had begun to grow in him. This dream was to become a reality – through sheer resolve, passion, and a belief that he could. A character trait instilled in him at a young age by his grandmother. Kwadwo recalls her advice “When my siblings or I would ask my grandmother for help with a problem, she would ask ‘What’s the problem? Did someone die? If not, it can be solved. Only death cannot be solved’. ‘I’ve taken that to heart.”