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I can see both sides. We need the SP to rocket as well undervalued. Brian has a lump of shares but the board are pretty light of shares. I suspect quite a few PI have more than most of the directors.
Any Director share purchase would show conviction on their work actions.
It is time to 'walk the talk' and show some lead by example qualities.
The BoD know that this sp is too low.
Prove to shareholders that they work, earn their keep and are prepared to show it.
Prove that UOG is not like many others on AIM - a lifestyle company with a BoD free ride.
C.
Let's discuss tomorrow after the update
a dividend would rocket the share price and correct the apparent valuation mismatch between very valuable operations and market cap. Should re-investment (ie further acquisitions we're talking about because 4 appraisal wells only cost $3-4m per anum) be happening at $89 Brent or should dividends, or both.
I would argue both would be perfect
We're going round in circles now.
A divi is something a company gives when it's not sure what to do with excess cash. We don't have that problem. The cash is being reinvested back into the business. They're doing exactly what they're supposed to.
and retained earnings? Almost certain to be positive at moment
I didn’t scoff. They can buy shares if they choose.
But they don’t have to.
That’s all I said.
If you recall about a year ago there was a lot of noise made about directors not buying shares with their salary. Certain PIs here got quite angry.
I’d prefer not to see a repeat of that.
Like I said, they are not compelled to buy, it’s none of anyone’s business and it should not be taken as an indication of anything company-related.
Retained Earnings are only $1,380,955 negative at 30 June 2021. Probably positive end 2021 and definitely positive during 2022 so dividends are definitely an option.
You scoffed at the potential for Directors to purchase shares. Weird
Tuvok, the directors' job is to grow the business, not to worry about the share price.
We want them to make decisions on the basis of what's best for the business, not what's best for the share price.
Obviously, these are not always mutually exclusive, but in this case they are.
A share buy back would help the share price, but would not help grow the business.
I'd much prefer the BoD to focus on the business only.
Reinvest in the business and the share price will take care of itself.
Rita, obviously a share buyback is separate from a director purchase.
I addressed these separately in my post.
FYI, dividends are not an option at the moment due to negative retained earnings.
Ginger the Director purchase and share buyback, acquisition, or dividend are NOT mutually exclusive options.
Please, some grown up discourse please.
If the Directors deem the share price to be way undervalued it is entirely their perogative to purchase
What directors are also supposed to do is create value for shareholders.
Share price is lower than it was this time last year.
Can we not do this again please.
The directors can do whatever they want with their own money.
It's not for us to insist they buy stock.
If they want to go on holiday, buy a second home, a lambo, whatever, that's their business not ours.
Re share buyback, that's something a company does when it's not sure what to do with excess cash. We don't have that problem. The cash is being reinvested back into the business. They're doing exactly what they're supposed to.
Spot onO2B -re share buy back
Do what Capricorn (Ex Cairn Energy) did and use the windfall funds to buy back some shares?
Time for BoD to show some conviction and also put their hands in their pockets and not do what they did last time to help themselves when their actions tanked this sp.
C.
In October when Brent was $77, the directors bought UOG shares at 2.95 pence. (and production was around 2,000boepd)
Surely after news tomorrow, with Brent at $88.50, and share price is at 2.80 pence, directors will purchase further?