UJO AGM Resolutions22 May 2025 15:52
From Toonarmy2 on the other sides BB.
Several others and I are voting NO on resolutions 2, 3, 8, 9, and 10. Read the accounts on page 83. Resolutions 2 & 3: Simple vote Bramhill and old Joe off the board. We can cope with just Craig Howie and Graham Bull as directors. Bramhill has given no info on flow rates, etc. He keeps all the info to himself. Apart from the savings on his and Joe's salary, it will save £12k pa on his Mrs for getting his Greggs every day.
Resolutions 8, 9, and 10 all relate to allowing him to allot shares, 9. buy back up to 10.6 million shares (he did a great job on the last buyback), and 10. raise money by issuing shares. So I will definitely vote that down. He is staffing money all over the place. Look at Beacon Energy £480k down the Pan, and Elephant Oil. Where on earth is that going? That couple of deals have cost us around £600k in total.
So make sure you get your broker to fill in the proxy to vote down resolutions 2,3,8,9 & 10.
I wonder if he will try a cash raise before the AGM he cant meet commitments if Wressle upgrades or West Newton start work he will need to raise cash.
ORDINARY RESOLUTIONS
1 Report and accounts
To receive the audited annual accounts of the Company
for the year ended 31 December 2024, together with
the Directors’ Report and the Auditor’s Report on those
annual accounts.
2 Re-election of director
To re-elect David Bramhill as a director of the Company
3 Re-election of director
To re-elect Joseph O’Farrell as a director of the Company
4 Re-election of director
To re-elect Graham Bull as a director of the Company
5 Re-election of director
To re-elect Craig Howie as a director of the Company
6 Re-appointment of auditor
To re-appoint Crowe U.K. LLP as auditor of the Company
to hold office from the conclusion of this AGM until the
conclusion of the next general meeting at which accounts
are laid before the Company.
7 Auditor’s remuneration
To authorise the directors to determine the remuneration
of the auditor.