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This company is close to collapse
I have lodged a complaint with AIM as they have not replied to my request, as per law, of the shareholders.
the more people who make a similar complaint- the better
Key for me will be a wage sacrifice scheme so the CEO isnt creaming money off for non-news.
My holdings are pretty small- but does anyone know any big private investors here?
If we can get 5% of shareholders (by value) we can force an EGM- i think reasonable motions would be
1) the immediate replacement of Peter Hill
2) a massive salary cut for Peter Hill and he can increase his salary by reaching certain milestones
The set up now, its just easy for him. No disincentive not to do nothing.
THis is a lifestyle company.
I can say now- this is never in a million years- going to go into production.
Its in the middle of nowhere as someone pointed out. The costs to develop it will be £££ unless it is huge
The goal of Peter Hill is to drip feed 'news' like Italian court decisions, and information about *other* oil companies- to maintain the illusion and keep on collecting his 250k salary.
My girlfriends Dad is a stomach surgeon - works like a dog in NHS and privately- and his salary is about the same as Peter Hills. The latter only issues a few statements a year and god knows what he does rest of the time.
Anyone seen Peter Hill recently?
For 250k a year- we should all know him by face. The only CEO of my AIM companies that i wouldnt recognise if he sat opposite me on the train.
Peter Hill still makig almost 5k a week for this pseudocompany.
AIM really is just a poorly regulated casino.
Peter Hill has made about £90k in income since we last had a bit of news
You guys have been too passive. You need to make him sweat. Everyone needs to start bombarding GBP with emails asking about results/salaries etc.
Right now, its very clear he is earning a lot of money for doing precious little. God knows how much time he actually spends on GBP- i would hazard a guess very little. An email there, a conference call there.
I have friends who earn that amount of money and they are busting their guts out on 12 hour days in the City and have targets to hit.
There is no point writing here- need to make him feel the heat
Peter Hill gravy train still going on
Its obscene. AIM is for full of shysters.
At least the other CEOs of no-hope companies give regular interviews to at least create an illusion that they arent just a lifestyle company.
GBP dont even try and do that, they are so brazen.
Dont miss this opportunity:
Company that does not generate any cash is offering 250k salary for:
One interview a year
Publish news about *OTHER* companies
Issue regular placings for supposed 'work' while diluting investors holdings (this is how we fund your quarter-million salary)
All interested parties- please reply to directorslifestyle@gbp.com
Dont hate the player, hate the game
How else will they pay the CEO's salary?
£250k salary. For what?
Does anyone actually remember the last interview he made? Do you know how he looks like?
Good to see someone being proactive btw and contacting the company though.
0.2 fast approaching*
They will be waiting for their next ramp and next £1 million placing which will bring the price close to 0.1
The goal of the company is NOT to hit oil.
Its to sucker in naive private investors who can oil the clogs of a very well drilled lifestyle wheel.
As long as they can keep on dangling the carrot in front of our mouths, they can continue with their inflated salaries (of which we have no objective proof of how much work is ACTUALLY being done- i suspect the CEO is doing a few hours of work a week, if that).
Even if the wheels come off the bus and they get exposed for what this company is- they would have engineered several years of high paid salary to enrich their personal coffers.
Its a lifestyle company . They have nothing to tell you. Nothing to add.
Company must be annoyed that they are getting all these emails now. They probably thought they could continue rinsing a generous salary every year for no work.
Price was 0.35 when I posted. Now 0.25 after the 'great news'.
Can someone remind me how much the CEO earns? Could any of you recognise him if he sat next to you on a 10 hour flight to LA?
This is the epitome of a lifestyle faceless company
I would suggest you all start shaking the boat- I could see they were ruffled by my email. Shaken the comfortable nest that Peter Hill has created for himself.
I strongly encourage you to start emailing them asking when we will get concrete news, when Peter Hill will give an interview, what are wed oing about PR etc etc. They have had it too easy for too long.
A lot more productive to shake the boat than posting on LSE for sure.
You dont have to be a genius to figure it out
1) They dont actually come out with any 'substantial' news- just the same thing- Shell is doing this or that- we are working on the farming- the ball gets kicked down the grass, all the while, and the CEO continues to collect his money as long as the ball is on field. Its like a kid who never eats their meals and just plays with their food.
2) How many interviews has the CEO made in the last 2 or 3 years? How many conferences/meetings have they attended? How much PR do they put out?
All we know is that he lives in London, gets paid to do £250k without . I mean, he is so absent that even if he had died, you wouldnt know. £250k, while not at the top end of CEO scale- is still a lot of money for a faceless and presentless man with no palpable results. He is in his 60s it seems, maybe in semi-retirement, spends time at home with his young grandkids, lot of long walks with the dog, a little ride in the Range Rover. *Maybe* spends a few hours a week on GBP. I sincerely doubt that the CEO of a company that has so little presence is working 60 -70hour weeks to get the farming through.
This surely is the epitome of a lifestyle company, right?
When I look at my bosses who are similar age- earning less than Peter Hill (in a much more stressful job)- its quite a good gig at that stage of life. A CEO of a non-AIM LSE company would be working like a dog, but AIM has little accountability- only thing that is certain is that the BOD continue to get paid for questionable work.
What I see is a company which does not have much prospects but the CEO is happy to cruise on a £250k salary- for what is almost certainly a part time job for him- till he retires. Before someone says that is not a lot of of money- I have 3 degrees- work full time- 60 hours a week and my salary is half of this, for comparison.
He makes like- one interview per year? Does a little work from home probably 10-20 hours a week. I hardly believe this is a 'full time' job.
The longer this is dragged on, the more placings they are going to have to issue due to 'running costs' (ie $500k on salaries in a company that does not generate income). We are burning through cash to fund the CEO and the NEDs who will do even less work.
I got spiked and bought at 1.3, just a warning for others.
Just a little warning about GBP
There have been many accusations about this being a ‘lifestyle’ company- here are my thoughts:
I emailed the company a few months ago asking for clarification of their wage expenditure. In the company accounts they omit who is earning what. They group everything under one umbrella of ‘staff expenditure’. It rose from almost $400k in 2021 to almost $500k in 2022. I don’t know of any other company that does not specify how much the directors are getting paid. What is it that they are trying to hide?
I also mentioned the lack of ‘materially significant’ RNS over the last 2 years. They have had more RNS regarding what other companies are doing rather than what THEY are doing.
I got a reply back from a ‘Nick Elwes’ (from Tavistock) who gave a wishy-washy reply along the lines that ‘there is lots going on’. Further emails regarding the renumeration structure went unanswered.
They could have easily pointed me to companies house accounts- which shows that Peter Hill is making about £250k a year. They have a few other ‘amigos’ as NEDs on various salaries of circa 20k (NED work can mean a few days of work a year- not bad work when you can get it considering the average salary in UK is 30k). I know of other companies which have 2 or 3 times the mcap, and an actual revenue stream and a visible boss, where the CEO is on a similar salary. How many interviews has he made in the last year? Would you recognise him if he sat across from you in the train? How much work do we actually believe he is doing?
Im interested to know why they didn’t include the director breakdown in the RNS of company accounts...well I think that answer is pretty obvious.
Have a look at all the RNSs in the last 2 year and it will give you some sort of broad measure. £250k for a few RNSs about what Shell is doing. Then in December 22 he inexplicaly gets 6,000,000 shares as an ‘incentive’. The wording on the companies accounts say that the high salary is due to the ‘high risk’ of the business. But he isnt taking the risks...it is us investors who are doing all of that. When was the last director bar?
Work is really busy now but Im trying to to find out as much information as possible about Peter Hill and GBP as I can from friends who work in oil insurance business. Feel free to do your own research and post here whatever you can find.
I would seriously warn anyone against buying into this company until
1) the directors start buying
2) there is some ‘material’ movement in the company rather than RNS about what other oil companies are doing.
Also beware of the posters who are aggressively ramping the company- it is possible that they bought high and are hoping to try and bring up the SP to cut their losses. NOTE that most of the news they post is about other companies or not directly related to GBP....which is the same as what GBP itself does. Essentially, its what you do when there is not much positive news about the com