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Does anyone know what precisely Pete Brailey said about Char in that piece? Not a subscriber.
You have my support HRGGibbon. In fact I have already made contact with the FCA (market.abuse@fca.org.uk) and AIM Regulations (aimregulation@londonstockexchange.com).
I copied this email to Journalists, Politicians, Shareholders, Institutional Investors and Analysts. I hope that you can all do the same, the more people that make contact the more weight our argument will carry. I mentioned Chariot but also shared my general view of the AIM Market.
My email has already attracted some attention:
https://www.*************.com/views/49927/chariot-oil-gas-a-disgusted-shareholder-writes
https://www.*************.com/views/49929/chariot-oil-gas-a-couple-more-emails-from-disgusted-shareholder-mo
https://www.*************.com/views/49933/chariot-oil-gas-i-hated-this-investment-case-now-i-like-it
I'm not a subscriber of share prophets but they say that all publicity is good publicity.
The big question is what if anything will this achieve - we will have to wait and see if our efforts bring some change. However the value of your holding is likely to be at at rock bottom because we're sitting at near all time lows, the current share price is supported by cash in the bank and we have nothing to lose by addressing our concerns to "the political and media classes and the creme de la creme of the AIM World".
I’ve no idea what you’re on about, Goon. I’ve been hibernating in a yurt on an organic island retreat with no electricity or media of any sort. Not even postal pigeons...! :’0(
G, don’t mention our 2-0 win, I mentioned it once but I think I got away with it ......
Hey Jinx! :-))
Wheepo in da house
:-))))
Ooh, topical Gooner, topical! ;0)
We could organise a Chariot oil and Gas shareholders lives matter protest?
Nice idea but the FCA are a bunch of toothless clowns. Probably even more incompetent than Larry and his chums. Still, it can’t harm, can it?
The Board need to be taken to task on their proposed dilution of shareholders value by issuance of shares to directors to compensate for salaries. This is a no brainer!
plls go ahead - it would do no harm - but probably little good.
it is ,however very clear that the company is not being run ib the interests of ALL shareholders.i hold almosy 500 00 shares as evidence of my misplaced trust.
regards (in hope)
I'm part of a small group of investors which are considering to send the following letter to the FCA. It would be helpful to have the views of other shareholders.
Dear FCA team,
We'd like to highlight a case of potential conflict of interest concerning a company in the oil and gas sector (Chariot Oil) and to ask the FCA to look further into this issue in order to assess whether it is in its remit to investigate the case and raise the issue with management. There has not been an AGM since the case arose and therefore we have not had the chance to bring it up directly with the CEO and other directors.
Even though the company is currently trading significantly below cash value and trading at levels near all-time lows, the CEO and other directors recently announced a plan to receive a significant part of their remuneration in shares. Whereas, at first sight this might look a good idea, some other factors need to be taken into account:
- the CEO and other directors have a degree of control over the timing that deals are to be struck with putative partners and therefore it may create a disincentive for applying best efforts for a timely conclusion of the deals required (e.g. off-take agreements, farm-in partnership) in order to take the gas field development project to the next major stage.
- The license of the field in question was awarded well over one year ago and on the basis of information provided by the company there has not been a great deal of activity since,
- The last fundraising took place in 2018 at 12p so that is approximately six-fold of where the price is now and even that price was a fraction where the price has been historically trading.
- the share price is trading close to an all-time lows (as mentioned above)
- historically, there have have been long delays and a long list of unmet objectives in connection with developing oil fields resulting in a serious destruction of shareholder value for investors in Chariot Oil which gives rise to the above concern which might have not been raised in the context of another company.
One would hope that the issue of shares in order to accommodate salary payments would be the subject of voting at an AGM which has not yet taken place.
Would FCA be in a position to recommend to management an option award structure - with a strike price above current levels - instead of the unconditional award of shares at extremely low prices?
The above is only a synopsis and we would be happy to furnish you with back-up information that can be found in annual reports (notably salaries).