RE:The Purpose traderlong2 wrote:
We need not forget why we are at this cross road
2 years of nothing !!!
Seans Growing salary as the share price tumbles and assets disappear
Interesting read below I am not sure it got posted this summer
this is also why the market/funds/investors are not buying our shares
distrust see link below
The stubborn refusal to adjust salaries speaks volumes about his intent for our company
and all other people/investors and potential partners see that he did not adjust his salary
when it should have been
The .25 cent Options what more can you say
Its time to show good faith and return those but nothing ...
Stubbornness prevails again as they appear to just simple refuse
Who's best interests does the above serve
I own and run companies
The CEO and all of its Directors should have its shareholders and companies best interest first and foremost at all times
does VLE feel like this to you as a shareholder
It doesnt anymore for me
I am not a basher or have any other alterrior motives other than
i want the price to go up and our company to prosper
But Sean et all after 2 long years seem to be struggling with this
I am sure Sean is not all bad and wants success for VLE
he could have done the above and showed his concern for the well being of the company and not just him and the directors People Take notice to the ones in control that have skin in the game
they DO NOT have enough skin in the game
they have a Paycheck
I am sure they have some deals on the table and I hope they pull off a great one
But dont think the actions or non actions leading up to a deal have been helpful at all
to the shareholders best interests
Something will Break soon and we will have a way forward
or Plan B and we remove them and place someone in power who can
all of this IMO has been about starting to put into motion OUR plan B
Time is of the essence
glta to all that hold shares
https://ca.finance.yahoo.com/news/think-shareholders-may-want-consider-064504841.html?guce_referrer=ahr0chm6ly93d3cuz29vz2xllmnvbs8&guce_referrer_sig=aqaaan6xlxffifuknjdh29j08ajqwayx-cfl-iav9yyolwt793vu0enjj6kf2s51izd5s_eyzmfucg6hayjewg9f62grhje55vz9hlix0dyagpfi6gvoiudoqddfkhd9vpybt5bbkwvffq4kdllrwazvgrgdf39aymf4hgw7zpptdbs8
Hi traderlong2,
You articulated very well the reasons for our concerns.
1. We all wish VLE Management had closed an accretive deal.
2. We respect the discipline to evaluate and not to close a bad deal.
3. 2 years is a long time to evaluate and unable to find an accretive deal with upside.
4. The inability to close is exacerbated by the fact that in these 2 years we saw single digit oil prices.
If you cannot close when oil is at $5 dollars/bbl and oil companies are
on the ropes, and you have cash, when will you be able to close?
This is the reason I believe this Management Team is done and needs to be
pushed out.
5. Mergers require credibility. Faith by the third party to trust you with their assets.
Because in a Merger the surviving Management takes over your assets.
If Merger candidates think you are not credible, you will never close a merger.
7. As an example, if Valeura merged with TransGlobe at the bottom of the market,
we would have seen 5x multiple on our share price. We would be sitting at about 2.50 right now.
But Sean and Tim would not be the surviving Management.
And they want to be the surviving Management.
But are they good enough?
And respected enough?
Credible?
6. Sean and Tim and the remaining executive not having taken a voluntary pay cut
after the failure of the drilling is a red flag for a merger candidate.
7. The article you found traderlong2, articulates that red flag in a very public forum.
The article refers to the May 2021 AGM, so was writen early in 2021!
I will post the article separately for visibility.
Another words, we are late in raising the red flag.
We are more than justified in our disappointment a year after the red flag about
compensation was raised in yahoo finance!
8. We are 1 year later, and Sean and Tim have not cut their pay and Board fees.
9. We are 1 year later, and Sean and Tim, after the letter campaing,
issued a Trading Update.
10. We are 1 year later and Sean and Tim have no deal.
11. traderlong2, you are right that we are hedging our bets and working on
plan B, which is prudent after 2 years of no material progress, and a
year after yahoo fiance raised the issue.
12. On my part I propose we continue our aggressive campaign to push them out.
And there is a lot that can be done and will be done.
13. If Management has a deal they are free to announce it.
Noone is holdinng them back.
14. The notoriety through our campaign will ensure that a lot more investors are aware of this
great company and great Management Team, if they close a great deal.
15. If they do have a deal and do not close, we will have exposed them for their
incompetence and irresponsibility.
16. And send a message to Management Teams that their interests cannot be
out of line with the interests of the Shareholders.
17. I think this is a thoughtful and prudent approach.
18. As always, remain open to everyone's comments, but, sorry, I am not willing to
wait for another year or 6 months.
Valeura Shareholders Association