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personally i dont think CPR will be until the end of the month - things always get delayed on AIM.
I don't know how much the CPR is really going to help in the short term. right now the issue is production v water cut. the bubble point was due H2. POO will have helped enormously as production can be reduced and still create profit - but will it delay long enough now that any forward plan wont start until next year at earliest?
the CPR will presumably have been commissioned to improve the picture and attract possible partners - however i am not sure that this board is really going to attract anybody.
Wouldn't the first thing which the Company would do is bring forward the date of releasing the CPR? Probably by now it is already done and could even be released this week? Depending on the merit it would then help to diffuse some of the tension. As part of this you would then see an accompanying placeholder text to then acknowledge the frustrations and then promise to re-engage. It could be that the reluctance to engage maybe driven till the CPR is published. Cannot see any Directors resigning.
Bought heavily last week and down already but think this will be higher come end of March. Hopefully this year lol Exciting share
Resignations must follow now BOD have been found to ignoring shareholders.
CA have communicated to HUR shareholders far better than HUR BOD, that is completely unacceptable, a director of a company is obliged to work and communicate with shareholders.
Three steps to heaven..or more...how this might play out....
1. CA sends another letter to Chairman demanding changes and his resignation for the sake of the future of the business etc...
2. Company stays Mum and attempts to drum up support themselves
3. CA releases letter to FT, et al forcing the issue into the open. At same time CA requisitions an EGM
4. McTiernan blusters and flusters then resigns with immediate effect (plus a few others)...
The above clears out the obstructionist board but it does not necessarily solve the strategic issues for the business, but it may lift the cloud over the company and encourage some fresh thinking which is woefully lacking. That needs fresh blood so I wonder whether CA have been having chats with suitable individuals. I cant see Trice returning -he is too toxic...
Agreed
NOVEMBER 10, 2017 Hurricane chairman Robert Arnott left the firm with immediate effect. (BUt rest of board stayed)
..... Arnott said in a statement sent to the Financial Times that his efforts to improve Hurricane’s governance standards and the company’s leadership culture had “failed to succeed due to a reluctance to implement immediate change.”
Arnott claimed “a substantial gap still exists between the company’s current standards of governance and leadership culture, and those expected of a publicly listed company,” and this prompted his decision to resign.
Today is a great day!!
Brilliant news.
Hahaha - expect CA to launch a full-scale PR campaign highlighting the failure of McTIernan et al in public. And they will have no defence for their stewardship because there isnt one.
"Now they’ve all been outed ......their stock price plummets"
Must be a terrible feeling for them, akin to being an actual HUR shareholder.....
Execs don’t like being attached to a screw up... next job gets more difficult ...
Now they’ve all been outed ......their stock price plummets