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....
BF but that aint the on;ly weirdness going on , the pulsing bot past 2 sessions just smacked of drive down to fill ......so I throw another couple giro's at it, either bog paper to come in handy or a high class brass.....obviously hoping for latter
Datafeed and UK data supplied by NBTrader and Digital Look.
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.