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I have always thought Chair was a CEO approved NED & then Chair, hence voted against him pre-meeting, Having seen him run the AGM (v. badly imho) and spoken to him after el19 did (I caught part of el's conversation), i concur with el19's opinion. He is far too smooth and I now see him as much of a problem and danger as CEO & CFO. I don't mind someone telling me they cannot comment on an issue (ie there position constrains them) - I draw the line when they tell me black is white and expect me to believe they are telling the truth and their true opinion.
I have always recognised CA's goals have to understandably diverge from Pis at some point but believe currently they still run broadly parallel.
it is a not a requirement for a PI to be an oil expert as Chair opines. Main requirement is ability to see clear full picture by being able to join pieces of info together, integrity, and own mind.
By the way - PIs protest vote against certain Resolutions made noticable difference to scorecard. Those we voted for got high 90's, those we voted against got low 90's (incl Chair), and CEO 89%. We knew overall results a foregone conclusion, but scorecard mattered. It will have been noted by NEDs
Hi Senseman/DYOR2/and all the other lads at yesterday’s AGM – it was great to meet with you all. I hope our presence at the meeting and the tangible feeling of anger that we all had, particularly with the 2 Directors, has been a wake-up call to the BoD as a whole. We demonstrated again, as we did at the High Court, that we are not just gonna roll over and let them rip us off, or trample all over us. They have loads of legal duties and responsibilities to fulfil as Dir’s/BoD members and they need to be fully aware of them, or the repercussions could be substantial. One of the obvious ones that I don’t believe they have even got near too, is S172 of CA2006, which gives them a legal duty to promote the success of our company, HUR. I was shaking my head and laughing at so much that the BoD said yesterday, it was unreal. Two months ago for instance, in an RNS, Maris stated that him and Chaffe were forecasting that post bond repayment we’d have over $60M of net free cash…at the time I remember thinking, have they even got ‘O’Level maths, of course we’re gonna have much more than that, about 50% more imo. Then yesterday he slipped in that we might have $80M free cash, in a month or so’s time. The oil price has barely moved, but suddenly y’day, he moves away from his latest ‘negative’ RNS, which downplayed our financial position..again! It’s disgusting imo that him and chaffe are gonna be splitting circa a million quid between them in their next 12 months remuneration and imo, they both need to start being positive and earning it..fast!!! And like you believe Senseman, Chair also needs to start being more objective and positive in his views and also help to drive the business forward in the coming months GLA
^ Thank you gents...
From a long term holder who first invested in Hurricane in 2014.
For sure - Lancaster never performed. Ever since Trice left the company something hasn't smelt right. Private Investors were robbed of their investment by some dodgy back ground dealings. Marris and his cohorts (Phil Corbett - ex-head of investor relations) need to hang their head in shame given what happened on their watch and subsequent events.
True value of this company should surely be nearer 20p than 5p.
Time will tell.