Natalia said the following: "This call is for shareholders to interact directly with Larry, no for me to read out questions. It would be especially inconsiderate for us to read something out while other shareholders are waiting on the line to ask their questions. If you think your questions reflect general shareholder concerns then I can't see why others wouldn't ask them. If however you believe there are some questions outstanding following the call then feel free to send them by email. I'm of course not suggesting you can cancel your meeting - but given the PI call starts half an hour prior to that you might have time to ask your questions anyway. "
he had a deal of sorts on the table imo if rumours were right of course but wouldn't agree to terms, hit stalemate and here's my guessing part BoD prob were too complacent about what they had an potential partners seeing BoD way, silly move to play chicken when the only ammo to hand is basically dud's which in absence of any other firms success in adjacent blocks is all he had. Gave up on the dream as spent too f long on this without any decent earner but as I said 2 mths back thought it was cheap at 11p an still think that , moreso now.....my feelings on capability of the PR which EVERY firm MUST have is clear. Missed the point of this conference call earlier as too busy with genl/oil/pmo/hur......but what the f can anyone expect with a f conference call ffs....calm southing words to a select few, f off larry you bottle merchant , if you got anything to say that's of relevance then f rns it......because that's the only thing the b'stard city will listen to. Get shot of silly cow pr , hire new firm and bingo we'll have min 30% rise
6. The results of the Wingat well have been known for around 18 months now and shareholders expected the company to exercise our fast follower strategy a lot quicker. Do you not feel shareholders deserve to have a proper update on the Namibian central blocks farm out process as it is clear that mistakes have been made, which have cost us a lot of money and time? 7. The new licence for the Namibian central blocks has seen our equity position decrease from 90% to 65% while AziNam managed to increase their equity position to 20% from 10%, why did we lose 25% equity? 8. The results of the Mauritania 3d seismic were initially expected in Q12014 but have now been delayed to Q12015, why is there such a long delay in announcing these results? 9. Woodside have recently obtained acreage in Morocco that is adjacent to our block with them, are they still confident that our acreage has potential and why did we not do a joint venture with them on the new block? 10. What's happening about the new venture project which chariot raised funds for? 11. Why do you think there is such low interest in Chariot shares as volumes are negligible and what are the plans to improve investor sentiment? 12. When investors look at investing in a company the first thing they look at is time lines as they want a return on their investment over a certain period of time yet Chariot has failed to follow time lines, do you not feel that this has hindered future investment?
1. Larry you have been the CEO of the company for 2 years, when you became CEO you stated that your goal was to create transformational value for stakeholders yet the share price during your tenure has decreased from 27p to an all-time low of 7.5p. If you read online bulletin boards, it is apparent that shareholders who have stood by the company and its fast follower strategy feel that you have not delivered and should resign; do you accept that you have made mistakes and errors of judgement as the CEO? 2. The share price is continuing to slide, the company raised equity at an historic low share price diluting shareholders, which may be the reason for the further decline in the share price and news is being delayed on several fronts yet there hasn’t been any PR directed at private investors for a long time. Shareholders are being ignored; do you not feel that an update to shareholders to reassure all is on track would have been important? Why are you so quiet? 3. The Board of Directors were paid nearly $1.7m last year, we have a further 2 members this year and the costs are likely to be over $2m, is this pay justified seeing no value has been created for stakeholders and why does a company this size need 9 members on the Board of Directors? 4. A lot of us small shareholders feel that there is not enough accountability when it comes to the BOD's. Would you support calls for lower salaries for the BOD’s and greater incentives such as bonuses linked to the share price? 5. Shareholders have been told that there is high industry interest in the Namibian centrals and that negotiations are on-going, it has also been mentioned that the renewal of the blocks in August with a drill commitment was putting off potential farm in partners and if this was removed the acreage would be more attractive. We relinquished the block and then got a license again with just seismic commitments, we lost 25% equity in the process, this was about 4 months ago yet there is no sign of a farm in partner. Why have the Namibian centrals not been farmed out and why has the process taken so long?
I only found out about the pi conference call today as Natalia emailed me but I cannot participate because I have a meeting to attend, which I cannot re-arrange. I have been requesting that Natalia takes my questions and puts these to Larry but she is not willing to do this even though 1 days notice about the conference call is not sufficient for me to re-arrange a meeting during the busiest period of the year. Is anyone willing to ask my questions? I am trying for tomorrow morning but its 50/50 at the moment.
Bots and bog paper do make a natural pair.....but I want to believe its high class brass. I agree it looks like its being massaged...think it's also weird that they are talking to PIs this time of year. There's either news or they are very worried about further sp damage if PIs give up on Char during the low volume holiday season....
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