RE: Retail Investor Presentation 202130 Sep 2021 20:48
What is typical is Sam made a point, as if it is worthy of sacrifice, that they had stopped taking bonuses.
When was the last one 2019?
That they have indicated a temporary small reduction (to be reimbursed) of thier "independently assessed" high salaries.
That it is essential to maintain continuity of personnel's I.e. him, Stu and Keith.
Typical directors attitudes, permanent cuts for staff but not these masters of disaster(s).
True now we are really deep six, no-one can come in and pull a rabbit out of this trench
Intesting to get conformation (as most knew) they had to sell AB for liquidity purposes.
My understanding is that submitted accounts are required to detail all liabilities so where are the Italian decom and the (first I have head of it, to be honest) temporary jetting costs detailed. Good job the question (HBR /RKH liabilities) was asked about. No mention of Italian decom costs at this presentation.
And again the main problems for attracting oil investors remain (as again reinforced) the sanctions and actions imposed on by Argentina.
With out HM Gov full endorsement (read protection) then it's a no go. It would have been imperative that Harbour have meaninful dialogue with the foreign office: They would have to before you committed to such an significant investment.
So what was said?
In theory if....IF...OM pay out RKH can be in talks for years.
Reinforcement on £100k a year, no shares, no bonuses until SL is in production. Let's see how "as keen as the investors" are they then to get the job done then.
Take some responsibility, but they never do....unless forced.
Rgds Sft
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