Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Ok, I'm a bit fed up myself with this company now. So on this protest how can I add my holding to the issues being discussed. (1.6M holding (not lots but it adds up). Who is the person organising this please?
If we land it then NSTA will surely grant Tain to us out of round.
Appologies - was not aware of this. So the block is called Tain North ?
Trove has Eog/i3e pencilled in for it.
Not Tain tony, the licence North of.
VernetLes,
My understanding is that they did not apply during the 33rd Round - It wasnt up for grabs then. If it happens - It will be outside of the Licencing Round and later.
Out today.
Tain North please i3/eog
The BOD should have listened, SO no doubt got 30,000 tax free and the rest. The problem is the level of salaries all around. The two new executive salaries are disproportionate as shown by GreyPanther's post. They will never vote themselves a pay cut. The remuneration committee took no notice
Silly man should have listened but I get the impression he is self obsessed, which in all fairness has served him very well?
I think what has happened is that SO 'resigned' on the basis of loss of office payout.
After last years AGM written by Daily Mail on Sunday
CITY WHISPERS: Shareholders take aim at oil firm's whole board - AIM-listed Europa Oil & Gas leaves annual meeting with a bloody nose
By FRANCESCA WASHTELL, FINANCIAL MAIL ON SUNDAY
UPDATED: 21:50, 10 December 2022
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Shareholder rebellions have been all too common this year.
Most of the time investors' ire is targeted at bumper pay packets, as in the recent revolts at Ocado, Marks & Spencer and Kier Group.
But AIM-listed Europa Oil & Gas, a £9million UK and North Sea energy group, last week left its annual meeting with a bloody nose after shareholders rebelled against all five members of its board.
All at sea: Europa Oil & Gas left its annual meeting with a bloody nose after shareholders rebelled against all five members of its board +2
All at sea: Europa Oil & Gas left its annual meeting with a bloody nose after shareholders rebelled against all five members of its board
A third of votes cast pushed back against chief executive Simon Oddie.
More than 26 per cent were against chairman Brian O'Cathain. It follows a disappointing result in October from a well drilled in the North Sea.
This halved Europa's share price. It is now trading close to a penny stock – far from the 3.55p it hit in February.
Only a minority of votes were cast – which is hardly an endorsement of the company's engagement with shareholders in itself.
Still, if it was on the main market, that would be enough to get it on the Investment Association's AGM naughty list.
As a bare minimum we need SO and SW out with retail representation on the board.
They only had to be sensible.
I suppose huge salaries that you don't do a lot for are worth defending?
Calling the Agm early is a good defensive strategy.
It would be interesting to compare our directors’ rewards with those of our Wressle partners. We don’t yet have Egdon’s latest annual results but, for the year ending July ‘23, Europa’s accounts show that the 6 directors received £722,000 between them, some of them for only a part year. Of this, SO’s and WH’s came to £574,000 between them, or 79.5% of the total for all directors. At the end of last week our market cap was only £11.03 million, so the directors’ annual £722,000 bill represents 5.8% of the market cap. Union Jack isn’t an operator but its four directors were paid £487,000 for 2022. Of this the two exec directors (Bramhill and O’Farrell) received £407,000 or 83.6% of the directors’ salary bill. I note that UJO’s market cap at the end of last week was £21.73 million, which was 97% more than Europa’s, and the UJO directors’ annual £487,000 bill represents only about 2.2% of their market cap. IMO it's completely wrong that Oddie could step down from the CEO role but remain on the Europa board in ANY capacity. Wasn't that one of the issues raised in various corporate governance reports? I think we should vote "NO" to Oddie but I have a lot of regard for the Chairman Brran O'Cathain.
Yep - guess we can make our votes count on other resolutions and of course have on-going shareholder action
Would be a crime to waste the wressle money in the next few years on a bloated board and further pointless board adventures which promise great things but never, ever deliver. Good news is the SP does not have much further to fall. Hope we can get the requisite shareholding together to demand change. Credit to those on this board who are supporting the on-going action - it is rare the little people like us doing anything other then acquiesce
See website
Brian and Will not up for re election
Les yes let’s get it up and running /producing and let the bod get taken over
Whilst the battle for control of the company ensues let's hope for a positive production restart of Wressle 1 early this week. It's been long enough.
Hi i Heidelberg,
Send an email to Paul at pboilcraft@gmail.com.. He will explain what you need to do.
I'm in too, I'll send my info to Pboilcraft@gmail.com.
The share price has collapsed and we have almost a billion shares in circulation.
Nothing more than hands in the till, how do they justify such pay increases?
IMHO