Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Happy New Year everyone, perhaps news will arrive sooner rather than later in 2020.
Thanks Brom. Here's to the 20/20 vision!
Season's greetings to all and best wishes for the New Year
Amnesic thanks for all your work here, seems sometimes that you have put more effort in than the BOD :-)
Lets hope 2020 is different.
Happy Christmas all.
To save a little typing, a few clips of CP AGM thoughts re Saouaf that I shared with the group today
==> https://snipboard.io/BoOXrY.jpg
CP mentioned enjoying the enthusiasm and help of people at the ETAP tech centre during his visit a couple of weeks back.
Positive steps relating to permit. He's back to Tunisia next week. Also back there early in January for field trips with ETAP techs. Dr S has mentioned to me before that as you drive around the block, the landscape is rich with features o&g geo's love to see, which just don't appear in ETAP data.
Cheers IP. You're welcome!
Bit busy tomorrow, but will put out some more bits soon. Henry and Nlmbidc were there too, so hopefully they'll be able to add another perspective and/or some corroboration. Not sure the others post/visit here.
Nlmbidc, great to meet you today. A pity you couldn't stay for the follow on at the pub, but look forward to catching up with you more at future events, or DM.
Thank you for the feedback Amnesic. Much appreciated.
Serif, you're welcome.
I've yet to eat, so briefly and simply... as I would expect and confirmed from what was said in the initial conference call, CP's job is to ascertain the status of the company/assets/projects/partners/etc then to advance the company in the way _he_ feels best meets s/h interest and utilising _his_ experience, skills, contacts, etc. Anything from before is part of understanding the status now: input to determining the best path forward from now. He's working his angle - it's not a matter of whether there's more/less/same amount to do. Not comparable. Pointless to compare now with what might have been.
Re info flow: Everything said today seems compatible & consistent with intent expressed before - and as per transcript snippets link I posted at 9:12 - worth a re-read/re-listen carefully and not just reduced to 3-word catchphrase repeated out of context!
Amnesic, much appreciated you taking the time to update us especially after a long day . I realise that you can only give your view but did you get any sense of whether we had a realistic picture of where things were from the previous ceo or has CP had to do a lot more of the ground work than expected? I think I prefer that he is focusing on getting something done than writing endless presentations but was there any talk of a formal update because since he has taken over it’s all been informal word of mouth - some of which (several announcements expected before agm) has been unreliable. Even the extension of his role hasn’t been announced in any way and I see on the other board that people are talking again of more news over the next 2 months. Hard to work out exactly where CP is starting from.
Hi Serif
Yes, I was.
From the company, BD, JK and DW were there. CP arrived~15 mins late due to rail incident.
About half a dozen UK investors (outside of the company) were there. The investor with the 4th largest holding flew across the planet solely to attend the meeting, representing himself and (seemingly) the largest single investor also. Overall, about 30% of the company was directly represented in the room.
Formal business was carried out, with a few questions relating to report and resolutions. All resolutions carried. From rough/patchy notes....
Resolution 1 : approx 280m for vs 0 against
Resolution 2 : approx 260m for vs 20m against
Resolution 3 : approx 255m for vs 20m against
Resolution 4 & 5 : approx 280m for vs 0m against
On close of the formal business it was immediately clear there was to be no formal presentation to follow. This was a surprise, as historically there have been presentations (twice just to me!) even though material has only warranted RNS on 1 occasion before.
In place of a presentation, gathered investors got the opportunity to chat to BoD members directly over coffees & teas. Initially, perhaps not a great substitute, but as it carried on without any time constraint for nearly 2 hours, this ended up far more interesting - at least it did for those that attended.
All there are somewhat active on boards and social media, so I'm sure their own perspectives will appear before too long. Many spoke with CP at great length (90 mins or so). I, mostly with BD, JK, our 4th largest holder and with CP too later. From spending 3 or so hours with most of them at a local hostelry, I got the feeling of positive views in general, but perhaps it is better to seek out their views directly to gain confidence of that.
CP has clearly been busy - working hard and fast - as per prior comments and observations. Apparently his tenure as Interim CEO has been extended well beyond 7-Feb and he remains willing to remain in the role. He's heading back to Tunisia again next week. Further trip to Malaysia also happening within 3-4 weeks. He's cancelled his usual Christmas skiing holiday to work through instead.
I'll probably post more on individual pieces of info in coming days, after I've had a chance to remember and reflect a little... oh, and eat! TTFN
Did anyone get to go to the AGM and if so was there any update on state of play re ongoing activity? The rns makes no reference to any presentations or updates appearing on the website.
Yet 3 months on the share price has not improved.
Hopefully there is news around the corner and the interim ceo can provide more information as to what he has been up to and what he has planned over the coming months
Just under 5 hours until the AGM starts, when we should get a glimpse of what activities have taken place and what progress CP has made at the halfway point of his tenure as Interim CEO
Excerpts from 7-Oct conf call auto-gen'd transcript ==> https://snipboard.io/dsTrZv.jpg