Shareholder Engagement*
*FEC management information circular 04/04/2024 The Board recognizes the importance of constructive and meaningful communication with Shareholders. Accordingly, the Board has adopted a Shareholder Engagement Protocol (the “Engagement Protocol”) which promotes open and sustained dialogue with Shareholders consistent with the Corporation’s Insider Trading Policy and Public Disclosure Policy.
The Corporation is committed to the timely, consistent and transparent dissemination of information about the Corporation in accordance with applicable securities laws requirements. to its release. The Corporation’s communication and external engagement activities include:
• quarterly conference calls to present quarterly results;
•
quarterly presentations available on the Corporation’s website at www.fronteraenergy.ca; •
investor relations activities, such as one-on-one and group meetings with investors as well as attendance at industry conferences;
• materials posted on the Corporation’s website at www.fronteraenergy.ca including
investor presentations, financial reports, annual information forms, Shareholder meeting voting result, Board mandates, position descriptions, committee charter and key corporate governance policies; and
• an annual Sustainability Report. Consistent with its Mandate,
The Board wishes to ensure that, when appropriate, there is direct dialogue between the Board and Shareholders. Shareholders may provide feedback directly to any individual director, including the independent directors as a group, the Board or any committee of the Board. Shareholders may contact any director, the independent directors as a group, the Board or any committee of the Board (if applicable), including the Chair of the Board, through the Chair of the Board by mail (delivering a sealed envelope or email marked “Confidential”) or email at the following address: 2000, 222 – 3 rd Avenue SW Calgary, Alberta Canada T2P 0B4 TEL: 1-403-705-8814 FAX: 1-416-360-7783 Email: Board@fronteraenergy.ca
I tried emailing the company at address in the last sentence above and it was kicked back twice as undeliverable.Maybe some of you should try the email address and ask why no quarterly presentation for 6 quarters afters years always having a very informative updated presentation on their website. Substitute Venture Capitalist's in place of CEO's in article below. 1. Management stops defending the stock price.
CEOs usually have a large stake in the company. Sometimes massively large. Whatever skin you’ve got in the game, they’ve got more.
If their stock drops inexplicably from $60 to $40, the CEO is taking a massive hit to their net worth.
If the company isn’t coming out with positive PR, or trying to reassure investors, it's possible they've already signed a deal to sell for $90. After all, what difference does it make if it the stock treads water between $40 and $60? In the CEO's mind, the deal is done.
Companies don’t like to see their stock prices plummet because it makes it harder for them to borrow money, or issue shares to raise capital. It’s also a matter of prestige. Being the CEO of a billion-dollar company is a bigger deal than being the CEO of a company worth 875 million.
Sometimes before a merger, Wall Street will crush a stock to shake out the ordinary investors. Their goal is to own as many shares as possible. If you own this stock, Wall Street can’t own it.
So, what is the company’s management saying? Are they being silent while the stock price plummets, or are going on a expletive-ridden tirade like Clover Health CEO, Vivek Garipalli?
A quiet CEO is hiding something. Especially if a merger is already agreed upon. They don’t care about the stock price anymore, because in their heads it’s not $40 or $30, or -22%, or whatever. The stock price in the CEO’s head is $90, so what’s there to panic about?
Like in April 2020, when Goldman Sachs analyst Paul Choi slashed his price target on Immunomedics from $24 to $5. The stock dropped 12.35% to $9.34.
The reason for the double downgrade was the FDA had found some quality control issues at one of Immunomedic’s manufacturing sites.
Six months later, Immunomedics was bought out by Gilead Sciences for $88 a share.