Member Info for LaticsRule

Godders, quite simply to protect their salaries and leave themselves an escape route to the Company that eventually takes over SeaLion asset ?

Valueless ?

Explain your thinking please Godders ?

Playing Devil’s Advocate … if an Ombré Mare payout comes along and HBR decide to kick Sealion into the long grass and Navitas into touch, what are The RKH options ?

1. Put RKH into mothballs - some would say thus has already been done but it irks many that The BoD pay themselves well for doing not a lit.

2. Could RKH restart the whole process of looking for another Operator although unsure of HBR and FI Gov reactions ? Don

Yes that seems plausible. 10 years ago naively putting AIM shares in a new SIPP where the Admin costs FAR outweigh the value of the shares which are only 5% of what they were …

Interesting thoughts LTT.

I would support any resolution that prevented Sam from profiting by way of any such sweetener to the BoD. I sure many would welcome such a block being added to the proposed EGM Resolutions ?

LTT,
Suspect that RKH staff are NOT very busy at the moment and therefore have time to reach out in response. Good to see but I do wonder what else they do ?

The Investor Day may well be an opportunity to press the BoD on this, although Corporate Lawyer meetings to rebuff the proposed EGM will be an unwelcome distraction. Personally, I’m curious to know if ANY moves have been made by RKH to ‘go it alone’ as an operator should HBR decide to kick Sealion down the road and Navitas depart ?

Isn’t that what a BoD should be working on, contingency plans to mitigate risk ?

Maybe it just renewal of T20’s ?

70,216 and docs sent to RKH

Godders, an Investors meeting In Sep ONLY if the BoD have something to say. Without news from Harbour or Navitas then Do you really think Sam will put himself in the firing line ? No chance !!

Godders, I can imagine Sam’s reaction:

no award update - Not my fault - waiting for Tribunal

no investor day update - Not my fault - waiting for Navitas / HBR to deliver news

90% loss - Not my fault. - blame AIM

Thanks RKH for all the Share options and salary

Godders, I understand your views but suspect that all Sam’s previous failed attempts to get this show on the road mean that he simply doesn’t command any respect in the Industry. No one will listen anymore as they don’t believe him.

WHEN Navitas or HBR move, then he may have some material to work with but my view is that nSam himself is: damaged goods.

From memory I think RKG suggested end of Sep (?) for an Investors Day but having said that my view is that without Harbour or Ombrina Mare newsI can see no point if there is nothing to tell ..

* Navitas

Exactly Godders. HBR decide to kick out Bavtas and kick the can down the road. RKH get an award and the BoD pay themselves handsomely for an achieved goal …. Sound familiar ? After all they will say, we are funded to first oil …

Well done pauldrayton but again I say, the BoD should have been FULLY aware of the process AND the risks involved. Letting the Company finances get into such a dire state is dereliction of duty and at the same time STILL taking Industry comparable salaries is inexcusable. It demonstrates what the BoD are capable of whether by intention or by incompetence.

My point is … it can be read TWO ways … doesn’t say much for Sam’s Comms skills but then again we know that from the poor sellout to PMO with no get out clause …

“I can confirm that we have twice chased the panel via the lawyers since the end of July and have yet to receive any response”

Pauldrayton, splitting hairs but I think Sam’s email which it sounds like many of us have been sent, actually states that the Company have chased THE SOLICITORS twice with no response. So technically Sam doesn’t know IF the solicitors have contacted the Panel ?

Daikihaku1, can’t disagree with you. No one expects Sam to commit to a daily update of the non-arrival of an award. I think we’ll just leave it there.

Daikihaku1, sadly I agree but again my point to you is that I have ZERO confidence in Sam NOT selling out to HBR and feathering his own nest at our expense.