Cardinal Energy Ltd (Alberta) T.CJ

Independent Director...

[Kherson]

Lets not forget what an independent director is and how and when they are officially notified of any and all major decisions by the CEO and the CFO.
In the case with Cardinal, our friend John Brussa in his official role as an independent, represents the interests of shareholders and he is out of the inner loop, officially speaking...
As March 25, 2022, Brussa held 3.5 million shares of Cardinal, and being a lawyer, he is well versed in the finer points of law when it comes to the ASC.
Brussa is buying, therefore we are buying!
Kherson

[Billybabin61]

For what it's worth, as per the governance of public companies, the CEO and the CFO of any public company reports to the board of directors. The CEO makes recommendations to the board for approval and carries  out the marching orders or strategic direction of the board. Brussa as an indepedendant is most certainly in the know on all information and has full voting rights.  The BoD

[Kherson]

Under the rules of Cardinal's Corporate Goverance, could you point out in the Board of Directors Mandate where it is stated that an Independent Director is required to be informed of negotiations for a buyout? Kherson

[Billybabin61]

If Cardinal  is in negotiations for a buyout and the BOD didn't know, then there is no authority for the negotiations. If you look at the composition of their board , most of them are independent directors, 80% of them in fact.   

[Quintessential1]

While a buyout would be nice it is not really neccessary for share price accreation. https://finance.yahoo.com/news/world-worried-saudi-aramco-world-160000039.html  “Today there is spare capacity that is extremely low,” Saudi Aramco CEO Amin Nasser said at a recent conference in London. “If China opens up, [the] economy starts improving or the aviation industry starts asking for more jet