Finally we can cheer!At long last, an activist investor in TPL is in the process of taking over.
It starts with Robson stepping down as Chairman.
A general meeting wll be held in Dec to put in place a new slate of directors (if voted in) nominated from Pope Asset Management replacing existing directors.
Would expect Robson to hang aroung during a transition period and then will be ousted.
Robson, in all his complacency, and allowing a bloated and overpaid management team
to continue for years, unable to control costs and right size, is finally on is way out. Justice prevails. He has had some success in forming partnerships and TPL has strong asset potential, but their ability to manage the company under his leadership is grossly incompetent. I hope a good portion of the existing management team is replaced and look forward to a strong team taking over in the next few months. Time now to at least follow this story again.
Here is the announcment today:
https://finance.yahoo.com/news/tethys-petroleum-limited-requisition-extraordinary-083435366.html