Trinity Exploration & Pr... Share Discussion Threads

[nafafa] 08/3/2024 15:08

At the very least such an action would embarrass the BoD and stop them banging on about delivering shareholder value, when in fact their actions have been to destroy it. It's about taking some form of positive action and forcing the BoD to take notice of us. I regret to say I hold 90k and suggest we would need the support of AB76, if ever to reach the necessary 5%. It may also be that those who acquired Bruce Dingwall's holding join, as they must also be dismayed by the mismanagement of his legacy.

[nocents] 08/3/2024 14:26

Present state of affairs….very poor indeed, and no communication.
I am willing to put my little holding into a group action if required. I’m surewe could get at least 5%.

[nocents] 08/3/2024 14:23

That last post in itself is a classic!

Yes, no point trying to budge this BOD unless you are a chonking great holder or bring smaller holders together.
We do not know for simure whether the large holders have laid the law down…all hypothesis. They may, may not have. But they should’ve done. Not to address shareholders with anything but radio-silence is the new Trin. It did not used to be like this and I don’t like the hands-off don’t bother us approach with no communication except essential RNS. We don’t even know if Jacobin will yield a couple of barrels a day!!
Nil comms. Radio silence. Again. March now!!

[arlington chetwynd talbott] 08/3/2024 12:58

I wonder if even an infinite number of monkeys could come up with something as unique as a Pavey post!

[pavey ark] 08/3/2024 12:24

For the first time in many, many weeks I ventured onto the "dark side".

I see the spiv has dragged up his imaginary friend and between them they tried to be witty......hmmm .....best sticking to one shakespearian play at a time and even that may be pushing things.

The spiv claiming to own 24k shares surprised me but if people try to get a group action please remind him that he can't put that into every one of his fake accounts.....only counts once.

I realise that historical knowledge is rather poor here but things did not go well for the real life conspirators.....really not well !!??

Moving on from the demented fantasist(s ?) things do look rather bizarre here.

Nafafa and others : a lot to think about and I'm not ruling out joining in some sort of group action.

A change is certainly required.

[strathroyal] 08/3/2024 11:43

Nafafa - I can understand that many of us feel the need to do something but if the large shareholders aren't taking steps themselves, then I don't see them supporting a resolution proposed by smaller shareholders and I don't see that we gain anything.

ACT - post 3560. Very good, does that leave Pavey to be Cleopatra?

[arlington chetwynd talbott] 08/3/2024 09:21

I do not have a significant amount of shares (26.5K), but sign me up. Pretty sure that comfortably more than 5% of the shares post on here, even when you exclude BoD apologists like Ab76.

[nafafa] 08/3/2024 08:15

Since many of us are clearly very concerned about what is going on at Trinity, perhaps now is the time to consider whether collectively we, as shareholders, can take action to influence matters. This would require a collective 5% shareholding to then put forward a motion at the AGM or the more drastic step calling an EGM to deal with the current crisis. I would most certainly support that, what do others think?

[nocents] 07/3/2024 12:35

Newlands was part of the removal of Greg Hutchins at Tomkins. He ran it himself then sold it. Was finance director of GEC + Saatchi and Saatchi. Surprised if he just sits back, but he may. Winther resigned as NED last year. Clearly unhappy. To sell off now seems to me to be counter-productive. The shareholders really need to unite, and tbh, either expedite asset sales, the company’s sale, or remove the BOD. The BOD clearly do not have oil drilling competence as a personal inherent asset, and have fluffed up at every turn.
It is quite astounding how arrogant they have been. I am willing to review this notion if Trin actually start to show some shareholder proactivity but they don’t seem to even communicate as promised. They receive a nice hefty salary. Some of us have problems paying bills now, on a 75% loss. I do not think Bruce would have overseen such a shambles. Nor Tracey M. Both highly competent.
We can hope that things are being done behind the scenes, but that is pure speculation. We hear nothing, not even on Twitter!
Perhaps the CEO knows his position is not under threat. He is , however, accountable, as are Menzies and the CFO. It is very easy to do nothing re. shareholders’ plight. Especially with a guaranteed salary.
Very very easy.
Happy to be wrong but need evidence.

[arlington chetwynd talbott] 07/3/2024 12:24

Ab76 will undoubtedly deliver the oration though.

[strathroyal] 07/3/2024 11:35

nocents - Your view on Newlands is interesting as from what I could see he is a serial investor in small oil stocks and I wouldn't have expected him to make the first move despite his corporate background. From the recent shareholder register shown on TRIN's website, the BD trust appears to be either selling down or splitting the holding between beneficiaries and it is difficult to see who will play Brutus and Cassius to Jeremy's Caesar.

[nocents] 07/3/2024 09:50

The arrogance of shareholder neglect is indeed astounding. No reply to my email regarding communication.
I cannot know that large shareholders are doing nothing. Newlands is not noted for his apathy ( see his corporate history). We are just in a position of what feels like neglect. To promise better communication last October and to revert to this is very poor indeed.

[nafafa] 07/3/2024 09:49

And the earliest opportunity to make our feelings known will be the AGM, which should be an EGM to remove the BoD! This is still some months off, where the share price be by then?

[arlington chetwynd talbott] 07/3/2024 08:37

This BoD has made a series of shareholder value destroying decisions. Their arrogance in now maintaining radio silence while the market punishes the share price and the complacency of the larger shareholders in allowing them to remain in place just astonishes me.

[aqc888] 07/3/2024 08:18

It’s such a dire situation now that the ceo of this publicly trading company, which should be valued in the hundreds of millions, now has a similar amount of financial exposure to Trinity as your local shop keepers have in their businesses. Yet some shareholders think they have the financial incentives to turn things around?!?!

[nafafa] 05/3/2024 13:56

Arl, it is the shareholders who are left in misery. The directors are quite happily drawing their large salaries and rightly refuse to spend any of their own money on purchasing shares, because they know they are not capable of turning round the business. The sooner we are rid of them the better.

[skyship] 05/3/2024 13:45

Strewth - offered at 40p after 5 people sold c46k at c40p level.

[aqc888] 05/3/2024 13:18

Nocents, perhaps you should start the ball rolling on this…

[arlington chetwynd talbott] 05/3/2024 12:37

Will someone please put this awful company out of its misery?

[nocents] 04/3/2024 21:42

Don’t expect director buys. They have a LTIP and chunky salary. Why risk? CEO already owns a fair few, I believe Menzies and Clayton own a dribble. If they wanted more, they would have bought. Not gonna happen.
If they continue to fluff it, I would expect that shareholders will unite. Or a merger or takeover, or asset sale.
At the moment they are receiving a good price for their oil at 15% discount to Brent. About $73-4. Oil climbed due to Opec’s continuing restrictions in order to raise the price. Shame , because Russia, Opec’s joint leader , benefits hugely selling to India and China and elsewhere, thus easily funding the war.
Expect nothing with Trin this year and you will not be disappointed.
However , in the stock market there are surprises at times. Can’t rule out an asset sale, farm-in or takeover. Alone , Trin will do nothing but pay nice salaries.

[aqc888] 04/3/2024 19:26

I think the current market cap of Trinity offers the best verdict of how Trinity’s management is doing.
The current market cap is a reflection of their success to date and a mark of what their future success is expected to be.
Management need to make some substantial director buys or be replaced.

[arlington chetwynd talbott] 04/3/2024 17:32

nocents - there would be nothing to attack if he would just learn from his mistakes. But that is clearly not going to happen. When TRIN is at 10p he will still be urging folk to bear with this BoD.