My understanding of RIG is somewhat different. The main motive for their creation was to ensure we were not subjected to further un-truths being published in RNS's and that information published was accurate and then fulfilled. You say we must observe the sanctity of RNS's but if what published in them is bs how can investors standby and allow it to continue. With 20% of the company share holding RIG has teeth and now it's time to use them and if you, Landau, RSR and co get a bite in the @rs then so be it.
•The board is open to all and you can be a member of the board without being a member of RIG. You will need to join the forums to use the shoutbox or to post in any section of the RIG forums. =========Doesn't sound like a closed group, if you don't want to sign up to the forums fine but don't moan about it
•RIG is a group of Range Resources Ltd shareholders established with the aim of improving communications between the company and its private investors. =========IMPROVED COMMUNICATIONS....!
•RIG will seek to develop closer ties between the disparate Range Resources Ltd shareholdership.
RIG encourages its members to (and provides advice on how to) exercise their individual voting rights.
•RIG does not seek to establish private bulletin boards for exclusive private conversation - our discussion boards are viewable by all
This will be my last message to you as all you seem to be doing at the moment is going across several boards attacking RIG for whatever reasons you choose.
Shareholders have a right to ensure that BOD are doing the job in their interest.
BODs from FTSE 100 to the ones in RRL treat holders with contempt because they are a silent, unseen mass that don't have muscle. BODs go on merry jaunts, pay themselves big bonuses and pay rises etc all on holder's expense. Most are arrogant arris that have lost sight that shareholders own the company. Not them.
If holders don't make their voices heard, when is it going to stop? We will get treated like muppets forever.
Wake up! Time for holders rule. Not BOD's rule. Might as well start with RRL since they have made a teets up of running it. AND, it looks like another major dilution event to shareholders is looming. I am surprised you and Rexco can rest easy without explanation. Faith in the BOD, you have.....
Dilute by another 30% jesus H christ and the SP is about to start sliding with 1 week to go to EGM.
The options can't be written into the contracts which is why they are trying to vote them through at the EGM. The value of these options are obscene, I called them a golden hello the other day but in reality these are more likely to be incentives to ensure the new directors tow the party line. If I was "Rory Scott Rooney" and co I'd be very cautious of a "Jam tomorrow" offer from old Pistol Pete.
Waking up to yet another tirade of abuse I would like to once and for all make my position on RIG clear. They were originally set up as a comms. group to try and streamline the amount of official and unofficial information being thrown around in the market courtesy of posters such as KY and anyone else who felt the urge to email PL or anyone else that took their fancy.
For a while that worked well and we have had far less meaningless, and often damaging, "chatter"of late. This week however all that changed, Buchanan, no doubt under the instruction of RSR, have stated that from now on we will have a level playing field with all important information coming via RNS.
What was RIG's response, Jimmy Robby, who I am assuming was acting with the approval of the RIG team posted e-mail addresses for the BOD and suggested that PIs bombard them with e-mails, bypassing Buchanan altogether. At that point I felt no choice but to withdraw my holding from RIG as it was contrary to what they were set up to do.
All I want is a level playing field so that ALL shareholders get the same level of information at the same time. I am a PI plain and simple but it seems that if you don't tow the party (aka RIG) line it is unacceptable. This is starting to feel more and more like a closed shop every day, well that has never been something I wanted to be part of.
We have a new management team at the top, let's just allow them to do the job they were employed to do.
"It is more likely to be if people vote against these resolutions and Range have to borrow from Yorkville instead.
Do not know whether refusing the options for the new directors would have an effect if they have it written into their contracts?
In my view not sensible to vote against if you want this to become a more professional company."
Your above post is why shareholders still get treated with contempt by some BOD. Holders are their boss and THEY do our bidding. NOT the other way around. If they treat you with contempt, then you have to show them you mean business by voting with one voice and flex the muslce which is your entitlement. RIG is the vehicle for this and I still like to see more activism from them if it means handling the proxies and voting with a BIG voice.
What is wrong with voting no and demanding an explanation for what they plan to do with the money? Most companies I know do this in fair detail when it comes to raising funds. Only vote yes when you are satisfied that the reasons are a good one.
Treated like mushrooms investors have. Yoda would say. Kept in the dark and fed BS.
RSR might be too inexperience to realise the importance of IR. Probably just having his ears bent by Buchanan and people around him. RIG needs to snap him out of it and fire a shot over the bow. If he doesn't treat RIG and shareholders with respect and communicate, then it could well turn into an action group.
RIG, there is nothing left for you to do now apart from turning into an action group. Your hands have been forced.
Completely agree with you that Celticheart is not to be trusted. He posts so much it's unbelievable, if he was deramping everyone would be totally ignoring him by now. Also, strange that straight after I suggested he and Coch6670 may just be one and the same Coch has not posted since that very day, this might just be a coincidence though.
Look at the board on QFI, an exemplary to how the chairman finds time to answer questions in full. When they had a placing today and announced the placing, the shares went up 16% before coming down a little. Why because at the AGM they were specific - they deliver on their promises, they communicate when shareholders question and when things do not go to plan they act quickly to announce it and the solutions.
Price sensitive information does not have to be given but the COURTESY to answer should be done by all companies executives, or IR team and this is sometimes more important than anything else, but with honesty. RSR - 3 months trial or marching papers is my opinion, because apparently the RBL is in place, the texas is happening, IOP, CTR should be producing more, TT has at least 2 rigs drilling - so yep 3 months to push up the BOPD in my view to at least 900 in TT, with a couple of hundred in CTR and at least 4 rigs working. These are the targets I would like to see. If they are project managing correctly it is easier enough to give some indication of expectations.
RIG wanted communications - they shut us down by giving buchanans - nice move RIG wanted communications - RSR pre-recorded - nice move - NOT
Where is the respect for the investor - however large or small. You never know the person who walks into a company purchasing shares with $10 will end up purchasing $1m more - but until you know that for sure every PI should be thought of as the $1m baby - and that will only happen with mutual honesty from Company executives with sound customer service skills.
Show the investors what they plan - short term goals, then go and over achieve, then deliver another set, over deliver and then confidence will return. At the moment this company however much you like to ramp them us is a shambles. I will wait to see and agree that assets are good, but until I see OKAP and PL severed with the chairman, I have my doubts whether we will every see a recovery. All personal opinion of course
Anyway did anyone go to Joe Macari Ferrari private party launch tonight. Cracking night, and just got back.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.