Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Here is the link to the facebook post
https://www.facebook.com/marineinstituteireland/posts/4301067626576940
Agree Spud - fickle in terms of spin and results but not principles of the company’s leaders. I am never fickle when it comes to fairness and honesty. If contracts come, and I believe they will, I will be very happy and comfortable. I will never again be comfortable with the behaviour we have seen from RemCo and from the Directors in taking these levels of premature remuneration. Markets don’t quickly forget Director’s greed.
Ban4118, to your comment. I wonder on what basis the bonuses were decided and paid. Normally it is linked to some sort of financial KPI such as turnover, share price, profit etc. I cannot see here how that would work. Last time I remember a clear KPI for bonus was announced was for John Wood achieving FEED and I think the number was 75k. I believe the RemCo has failed.
I don’t and will not defend the Director remuneration. It is ridiculous, way over the top. They should have some common decency and taken share options or a form of remuneration that was linked to future success. The Directors got something wrong here. Anyway I do believe in the future of the company regardless. The strategy and business model are sound and I wont be lead astray by a little bit of greed and a non-independent RemCo.
A salary is a salary, a bonus is a bonus. I would like to understand what performance metrics were used to calculate the bonus - we will never know. Clearly shareholder return was not used. JW and AR took home just over 5% of the current market cap of the company! I would have preferred to pay a market related and competitive salary to attract the right talent and then link the bonus to longer term performance criteria directly related to shareholder wealth creation. One can only hope and dream!
Could it be that Gresham House has been the persistent seller? Holding reduced from 5.79% to less than 3% means quite a bit of selling has taken place as the percentage drop is more than the dilution at the last placing. If this is right then with a large seller out that way and good news coming we can start the upward move again. Just thinking!
What are the thoughts about an RNS at 07h00 tomorrow morning with the Annual report? I will be waiting - again! Bought a further 20k today!
Spot on Jabido. What is the point of the Board not actually publishing the date and time? In my view it adds no value to be so opaque.
I thought it wouldn’t come Friday and I also thought I wasn’t really interested since the financial statements are only backward looking. We have had enough forward looking statements that haven’t ended with anything concrete nor, more importantly, translated into upwards SP moves. That probably contributed to my ambivalence. Here is to hoping that the Report tomorrow will lead to a move in the SP that is deserved.
Stokey12, I counted back including the 12th Feb. Don't know if that is wrong or right, it is just what I did. I don't know the legal stuff. Either way, it doesn't look like they will come today. Hope they don't come afterhours and therefore it looks like they will come on Monday i.e. first working day.
I know there has been a bit of speculation about when the Annual Report will be published based on the 21 day count back etc. Some said it would be today or tomorrow. Since the 21 day count back is Saturday, I think the report will come on Monday rather than tomorrow. Just an inkling that would have been agreed with Cenkos. Would be nice to read it tomorrow but if it doesn’t come then let’s not panic.
Ha ha, I am a long way off. A tad under 1% now due to the last placing. Anyway, you cant buy groceries with percentages.
Tango1, what are your thoughts on the LOI with Triumph Subsea Services? Chance of getting it over the line into a contract more or less than 50%. The SP seems to suggest it is low, but I am interested in thoughts.
Thanks for clarifying. I was mixed up.
I thought the reports were being published in a separate shareholders meeting planned for 12 February. I think it was included someone in one of the recent RNSs. There was a legislative extension of 3 months due to COVID. Am I mixing things up?
NigelHaemoglobin, I don’t think the FD / CFO owns >700k shares. Yes, I am confident. We have been waiting a long time, work has been steadily coming, medium to large contracts are close, ML is closer than ever before (except when we were told there were no more licenses needed!). I believe there is light at the end of the tunnel, and it is not from an oncoming train!
Will probably be sorted in the coming day or 2. I took up my offer of just over 24k shares across 2 different accounts and they are all reflected now in both accounts.
Another post from linkedin today about Triumph Subsea Service which gives a decent indication re their substance. I personally am more excited about a 350m build for Triumph than for work at Appledore. Of course I would prefer both. At first when the LOI was announced I was a bit sceptical given what we could find out about Triumph but now more is being revealed. https://www.linkedin.com/posts/triumph-subsea-services-ltd_dubai-uae-oman-activity-6755080652019892224-4XKb
There will be some revenue, but mot much. Not many ships were through the docks by 31 July last year. We shouldn't be too disappointed with weak financial statements as most of the good stuff has happened since the Balance Sheet date. Breakeven was only achieved on the dry docks / cruise segment in September. Will be interesting to see how this is reflected in the report - business was very slow up to Balance Sheet date and then accelerated markedly after. So much has happened post Balance Sheet and this is what we should focus on.
Seem to have more substance than many gave them credit for when the LOI was announced. I remember a few posts and tweets about lack of substance, newly incorporated in the UK etc.. Just saw this link from the Founder & Chairman of KBI UAE Oil & energy. For me this is a positive signal that the LOI may well be converted to a contract in the coming months. BTW first steel is to be cut in the next month on the Triumph build in Brodosplit Croatia. Seems the do have the financial backers that many were doubting. https://www.linkedin.com/posts/khamis-juma-buamim-68373957_explore-investmentservices-economies-activity-6754396494721232896-JQpq