Coro Energy Share Discussion Threads

[steelwatch] 29/4/2024 17:05

What I've seen in the past is for new directors to be appointed by the chairman and then come up for re-election at the next AGM. As we don't have a chairman, it may be the sole remaining director will need to appoint himself acting chair first. You could be right about needing an earlier EGM to endorse all new directors once provisionally seated.

[the sage] 29/4/2024 16:27

Hi Jason. I’m not sure to be honest. It might be a desktop procedure insofar as shareholders could vote online. When Naheed was appointed to the board, on 6th March last year, she was an independent non-executive director. I would presume that it would be a different situation for the appointment of a CEO. If a meeting was required, it would be an extraordinary general meeting, (EGM). If an EGM was needed, I would have thought that it would take place before the FID was announced. I would like to see an additional director in place too.
This is new territory for me.

[jason90] 29/4/2024 15:57

Sage, will shareholders have the opportunity of voting any proposed Directors into the business?

[the sage] 29/4/2024 14:29

The GSA refers to the domestic 29.5 percent not the remaining 70.5 percent. But it's a step that has to be taken and it's a step in the right direction.

[rafboy] 29/4/2024 11:50

Good to see GSA still on track for 31 May.

[steelwatch] 29/4/2024 10:20

Conrad's website reinstated, though with security issues according to BitDefender. Also quarterly report out today on ASX:

[barony] 29/4/2024 07:46

The Coro announcement contained “ The Duyung farm down process progressed and additional parties expressed an interest in acquiring a
participating interest in the PSC”

[man1] 27/4/2024 19:09

It's says something when shareholders would rather see the back of JP than care about a temp suspension.

[helpfull] 27/4/2024 14:58

Oh! How rude?

Sad to see the demise of Parsons, a true top class, trustworthy, champion of industry.

In the RNS dated 28 March 2024, the AGM and a directorate change was announced (the unfortunate loss of Marco Fumagalli who, like Parsons, is a 25% shareholder in C4Energy).

Because Parsons is an astute businessman he would have been aware there was a chance he could be voted off the board of the company (resolution 2).

He would also know that if he was booted out of the company there would not be a quorum of directors to stop the company shares being suspended.

I'm surprised he didn't address this possibility, he being a world class businessman, in the interest of his beloved shareholders.

Especially, when each Annual Report covers good corporate governance and risks to the well being of the company.

I'm surprised the remaining director and other senior executives didn't raise the potential problem.

Parsons received $400,000 remuneration in 2022. It was probably higher in 2023. And, pro rata, higher again this year.

Perhaps he will apologise to shareholders and return some of his remuneration being the moral character of the highest order that he is.

Be careful.

[blakieboy7] 26/4/2024 15:04

We need that GSA to land ASAP. I notice that CRD was up a bit last night for what it's worth

[blakieboy7] 26/4/2024 14:36

Sage are still in Eme also??

[the sage] 26/4/2024 14:09

Lol. We were all seated around the same large table. No refreshments, I was looking forward to a few sandwiches, but I guess times are hard.

[bengal1] 26/4/2024 14:00

Pretty good turn out then. Was the room big enough.

[the sage] 26/4/2024 12:19

Three shareholders, yes.

[jason90] 26/4/2024 11:05

Sage, are you actually saying that only 3 people showed up for the AGM?

[the sage] 26/4/2024 11:05

Hi. I take your point, and I don't know all the figures and details involved, but 15 percent of Duyoung is a massive amount of money whichever way it's cut up.

[ride daice] 26/4/2024 10:50

Thanks Sage. But isn't it a poisoned chalice for anyone coming in unless the situation with the bonds can be sorted to the benefit of all stakeholders ?

[jason90] 26/4/2024 10:22

We need a proper director with the right skills and experience to move this company forward in the right way.

[jason90] 25/4/2024 19:36

TBH, not sure how Parsons was able to get away with his business practices for this long.. Hopefully he will get his Karma for wrecking people's lives.

[currypasty] 25/4/2024 17:58

Zak, and malcy may take offence at that 😂