I'm off to bed now - but my final thought: I disagree and I think RIG could have gone down a much more militant route. I'm glad they didn't. I think it would only have been detrimental to the SP - and completely ineffectual in terms of changing anything at all (not least because I think their holdings if verified somehow in a meaningful way would be an irrelevant percentage). Therefore I largely approve of how they've gone about things - even if I'd have removed some of the bleeding heart stuff from communications as it is less professional and serves no real purpose. Ttfn.
Yes, Erratic Phil. My tongue was firmly in cheek re Red Robbo or Scargill on RIG's magificent seven. But I am surprised to see an 18% group called RIG and I would rather it wasn't there at all.
This is the sort of thing I object to. These are two of their objectives: 1. RIG is a benign group that seeks to work constructively with Range Resources Ltd to the mutual benefit of both shareholders and the company.
2. RIG also draws on the skills of its membership and has nominated O&G industry operational experts.
No 1 - not it is not. It is not benign in any way. It is militant, aggressive and cancerous imo. No 2 - why? Skills of shareholders include supporting the business financially (borrowing via rights issues etc), taking measured risks and hopefully getting a hansome return in sp growth and divis. And it is good that some shareholders have knowledge of O & G. But their knowledge is no more superior or relevant to the knowledge of a corner sweet shop owner who dabbles in stocks & shares.
I am happy that Rory has picked two seasoned professionals with Shell experience to sort this mess out. Think he has sufficient strength on BOD (with non-execs) now to force through his strategy. And it is likely to be of "hard nosed, no holds barred, no prisoners taken" type. The BOD needs to keep cards very close, as I am sure that some of employees will have written some very expensive contract termination clauses. Just leave them to it please.
Problem is the best candidates rarely post. There's a few exceptions. Garyn - who would probably say he's been negative for a while - is at least reasonably fair. We won't always agree but he's always civil and whilst i have no knowledge of his credentials/experience (I don't think they're relevant necessarily - and don't think they'd apply if I remember right) hence the statement). Having said that, whilst he's the only example I'd recommend off the top of my head from the boards, if I were him I wouldn't get involved ;) (don't take that as a slight as it's not meant as one)
(PS - I think there's little doubt lewis's tongue is firmly in cheek most of the time :p)
Shame about PiHK. My complimentary description of garyn above pretty much applies to him (barring a bit of stuff on WS - but then we've all lapsed briefly before :p)
I think lewiscymoedd has his tongue slightly in cheek. ;) A track record of extremism as he suggests is not required or perhaps even desired for the position of RIG rep, which is to represent the views of the wider RIG membership. For the benefit of late evening viewers here is an abridged version of Jimmy's earlier post:
RIG Representative PiHK has decided to step back from the committee. He has a young family and cannot continue to give RIG his full commitment. The RIG committee would like to thank PiHK for his valuable analysis, knowledge and good humour. RIG would like to use this opportunity to increase its number of representatives and therefore we invite RIG members to put themselves forward as a candidate. If you are interested could you please notify us at email@example.com by midday on Friday 10th April. Could you please include a brief manifesto stating: • Why you? (not more than 100 words). • Your proposed direction for RIG - what you would keep doing, what you would change (not more than 100 words). PiHK is one of our two "Eastern timezone" representatives so we would particularly encourage RIG members from outside the UK to apply, although of course it is not mandatory. We will publish the manifestos to our members and conduct a vote. Please note that both candidates and voters can only be from those c.800 members as registered today. Depending on the numbers that put themselves forward we are looking to increase the number of Representatives to 8 or 9 - this will help RIG be more representative of its enlarged shareholder base, increase our skillset and share the workload. We look forward to working more closely with some of you in the near future and thank PiHK again for his massive contribution to RIG. Best regards, The RIG Representatives
Is Red Robbo still around? He would be an excellent replacement. He was a dominant voice in Coventry a few years back, and he really helped to put UK motor maufacturing where it is today. Arthur Scargill and Nigel Farage have no useful job currently - and bags of money.
Am sure RIG will have even more success in pointing the RRL Board in the right direction if they elect one of these fine leaders.
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