Post by
tigris72poo on May 11, 2021 4:47pm
New Directors
Everyone is focused on Didipio and rightly so. If the FTAA is approved, it will give us a huge boost in liquidity and therefore accelerate the deleveraging of the B/S and allow funding of our growth projects without further dilution.
But I think people are underestimating the significance of the new directors. These heavy-hitters are not going to be content sitting in the Board room like two potted plants. I am sure they have ideas that they want to see implemented but will wait to see the outcome in the Philippines first before they push their agenda. I would bet that within the next 12-18 months some furniture will be moved around and major redecorating done.
Comment by
Esther1 on May 11, 2021 5:28pm
I trust you are correct about the new directors, Tigris. I see they have taken, or were mandated to take, some of their compensation in deferred share units. Both bought/granted 56,744 shares at $2.15 on May 6th. This is good in my opinion, as it further alighns their interests with ours.
Comment by
CountOfMeltedCrisco on May 11, 2021 6:09pm
Their addition and arrival says they know the outcome in the Phillippines and they'll be pushing their agenda at the very first meeting, if that hasn't occurred yet and they haven't already started "pushing" Fait accompli
Comment by
DirkStHouse on May 11, 2021 10:46pm
A takeover at this supressed price would be horrible for long term shareholders.
Comment by
Ctol80 on May 11, 2021 11:02pm
That is right Dirk. A takeover of Oceana now would not be a diserable outcome for Oceana shareholders. For b2 shareholders it would be a steal. Another +ve reason for having both McMullen and Benson at Oceana is they have the smarts to tell other companies to go home.
Comment by
CountOfMeltedCrisco on May 12, 2021 2:00pm
Their first action as new BoDs, then, would be to pound the table for a Shareholder Rights Plan. So every covetous eye out there sees the "Not For Sale Cheap" sign is up.