RE:RE:From Scotia this MorningDiversification will not be possible without shareholder support as the charter limits its investment to IOC.
This is the purest of pure plays, keep it that way. The last time the board got enthusiastic about diversification and started talking about borrowing money ( to play with ) so that they could buy other royalties, add staff etc etc, as well as raise their emoluments no doubt, they had to pull back in face of the resistance. They did not have the guts to take it to shareowners. All that is why I do not see the need for M & A people on the board. 3 less board members would be a good idea as far as I am concerned.
In 2020 the board paid itself $1,317,812 in total compensation and of that 53% went to those with M&A experience, who also just happen to be 3 of the 4 people on the executive committee.
Considering that the board has next to no control over LIFs revenues what do they do that merits their expense ?
Others should speak up about this: No need for M&A experience, too many members on the board.