Post by
JonathanJSmith on Aug 05, 2023 7:22pm
Another comment...
Maguire comments that the reasoning behind taking PNG private is to "unlock shareholder value" and the two subsidiaries are "completely distinct" and would benefit by being separated (i.e. with local management, etc). Tell me Mike, when the stock was trading at $5-6/sh was the shareholder value unlocked then? This company has been operating publically, with such a structure, for several years and the fact that the subsidiaries were "distinct" or "disjoint" was never an issue. The reality of the currently low share price has nothing to do with being a function of disparities between PNG and Canada or the need to unlock value; it is solely a function of POOR PERFORMANCE. Once PNG ramps up and the company starts showing $200MM+ revenues (with all three rigs running), you'll see how fast we return to the $4+ range.
KEEP THE CURRENT STRUCTURE THE WAY IT IS. DO NOT SHAFT THE CURRENT MINORITY SHAREHOLDERS!
Comment by
auburn2 on Aug 05, 2023 7:48pm
Now we see the low share price. Once private there's no ticker. Value gets locked up, not unlocked.