RE: Dr T13 Jun 2020 17:09
TOTALLY AGREE !
Dr T 's removal has been an orchestrated manoeuvre.
Feel sorry for him, Company founder, his baby !
But not everthing's gone well under his tenure.
Kerogen are obviously calling the shots and have strengthened their position
Dr T 's ally Alistair Stobie removed first.
( reminds me of Stobart Group ousting Andrew Tinkler )
Earlier short positions were oil sentiment related.
But reckon Kite Lake Capital have been engaged to temporary trash the SP with a short .
- To provide a convenient justification & reason behind Board changes.
Kite Lake Capital's stated strategy “Event driven”, a stated purpose “Minority squeeze”
Kite Lake Capital don't stay for prolonged periods so having achieved their objective expect to see them reduce position.
If SP is allowed to float freely, expect it will rise to something sensible.
Obviously been boardroom fall outs and disagreements as shareholder value has eroded.
Mistakes have been accentuated by the low P0O.
( Spirit, GWA, Lincoln tieback, corporate governance, ESP not being commissioned )
Expect SP re rate when shorts close and Forward work programme is disclosed.
Hope all shareholders benefit from Kerogen's future plans.