Part 119 Mar 2017 09:57
This tells you all how they have their own interests at heart. Disgraceful !
Date: 18 Mar 2017
By: Bowleven Holders
After the close results of Tuesday’s EGM, Bowleven needed a strong Chair to unite this divided company. Unfortunately for shareholders Billy Allan, who does not own any shares in the company, has proven he is not that person. Unable to rise above the petty self-interest that has steered Bowleven’s corporate strategy for so long, Allan has blocked any attempt to remove Kevin Hart and Kerry Crawford from their executive roles. This has forced Crown Ocean to requisition another EGM, unnecessarily prolonging the transition which shareholders voted for.
Although the results of Tuesday’s EGM were close, they were unambiguous. Shareholders rejected the previous board’s failed strategy and voted in favour of the company taking a new direction. Billy Allan survived the vote by the skin of his teeth, but the other targeted directors all lost their seats on the board. Crown Ocean’s nominated candidates were all accepted