Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Ah Heid a nice but uninformative letter from Mark Abbott.
That’s the Mark Abbott CEO of the operator of Wressle and most of UJOs other licences (other than the WN licence managed by the Chuckle Bros.)
He’s the guy that actually has to make stuff happen.
He owns 3.6% of Egdon, Dave owns 0.36% of UJO
He gets paid £135k per year, Dave gets £287k/yr.
His shares are worth 3x his salary, Daves are worth 1/3 of his salary.
So who’s taking the p!ss here?
“Quite honestly, I think it is none of our business what David choses to do.”
As a shareholder I have every right to know, if he chooses not to excercise his options like his fellow Director - why not?
“Of course predictably you stick your snout in as ever, RNSTranslator.”
Oh so I’m not allowed to post stuff the company actually publishes, hardly sticking my snout in is it. Or is it you do t like the fact what I post you find unhelpful in your quest to pretend to everyone you’re some kind of oil and gas valuation analyst..
“I think shareholders need to show more respect to David.”
Why?
He’s paid by the shareholders to manage their investment.
All the hype and self selected pay rises means he now earns 3x as much in a year than the value of his shares
Why isn’t he exercising his options at 18p ?, it would be a way to demonstrate his faith in the future value of the company.
So answer this, if you had £100k worth of shares and earned £300k a year, would you agree to sell the company to collect your £100-150k worth of shares, or would you prefer to keep the salary and expense account.?
“ revenge is best eaten cold.”
Revenge is served not eaten. Unless you intend to eat your words?
Touchy about what the company actually publishes… interesting.
I know you find the facts uncomfortable.
Taken from the latest AR.
D Bramhill J O’Farrell R Godson G Bull
Salary 2021 287,083 120,000 40,000 40,000
Salary 2020. 215,000 85,000 37,500 37,000
OPTIONS. 1,200,000 700,000 300,000 550,000
“I very much doubt you had an asset like Wressle, RNSTranslator.“
“ I “ never owned an oil field , few people do.
I look after other peoples interests and investments , they’re called shareholders. Some management teams forget that, preferring to attach themselves to the supply of money annually provided by the owners.
“It is David's company”
Nope it’s 0.36% owned by Dave. (416000 shares)
He has more options than shares.
His salary has gone up almost 5 fold since float
His annual salary is almost 3x the value of his shares.
The share price has halved since float.
Exactly where is the alignment with shareholder interests?
“ many who dont earn £180k a year.”
Dave doesn’t earn £180/yr!
2020 it was 215,000
2021 it was increased to £287,083.
What is it in 2022?
Seems it’s Champions league salaries for League 2 share performance.
“What if David did like them ?“
Then he’d publish them sharpish, or tell us when to expect them - duh!
“ isn't doing much for GC's 'world class' reputation.”
Or perhaps it is, they won’t change their numbers, which are often quite conservative (hence their reputation) , and if Bramhill didn’t like them he’d be in a big of a bind.
“ .You can almost feel Gaffney Cline dotting the 'i's an crossing the 't's”
But you can actually smell the BS from your post.
So when do you expect it to be released Heid?
Why is it taking so long?
Why dont the company say anything other than “in due course”
Is there a problem they don’t want to share?
It’d be simple just to say it’s all on track and we expect it in about x weeks.
“I would be looking after the BIG money maker an go to Keddington next year.”
What does look after mean?
Unless they spend their revenues on new development activity then they will finish up with a large tax bill on those revenues. Sitting about counting the revenue and not reinvesting is a recipe to give at least 25% of it to the government.., fact.
Just for clarity: According to Egdon in 2020.
There are still 567000 bbls of unswept contingent oil resources in the field, producing at 28 bbls/day…seems that would be the obvious first step, produce more oil from an existing pool that you know exists.
SK and Louth are prospective resources, which of course means they may or may not actually exist.
Agree they need to get on with it, but exploration should come after upgrading current producing fields, not the other way round.
Why would I want to speak to you on Direct Message?
You add nothing, you know little about the oil and gas industry, there's nothing to debate that you are able to make a contribution to..
I'm not asking folks to say who they are... you are, and you are much closer to DB that you care to admit, aren't you..
So lead the way...
"Please have the decency an not be a coward to reveal who you are."
perhaps you could lead the way.
Seems you want a one way street for others to reveal themselves but don't seem keen to do it yourself... some might see that as a touch hypocritical.
“I think you do know what is coming though.”
I think 35-40p is coming when the GC report is released..
I’m a realist and a shareholder (again).
“You are but a little balding man with a gripe against my David.”
You know nothing about my height or the state of the hair follicles on my scalp.
You simply make stuff up. FACT.
So is YOUR David gonna pony up £125k to exercise his options. Or is the HP on his Porsche due this week?
“Well of course. I knew that.”
Yeah right…. Lmfao.
So adding pertinent facts rather than misinformation you see as “frills” that’s interesting!
From a tax perspective Godson will know that he will minimise his tax bill. He has to pay income tax and NI on the difference between the exercise price 22p and the value 23.5p. So 40% plus of the gain is immediately taxed. If he later sells them for say 40p he only pays CGT (say 20%) on the difference between 23.5p and 40p not Income tax(49% plus). Yes he’s an accountant and knows how to play the tax minimisation game. Let’s see if he’s told Dave about this-
Daves situation is that he will need to give the company £108,000, in addition he will need to reimburse the company about £15k in income tax being the 5.5p per share (£33k) gain assessable to income tax and NI that the company is liable for. So let’s see if Dave hands over £123k .