Trinity Exploration & Pr... Share Discussion Threads

[nocents] 20/3/2024 21:12

Ok you pay then.
Shareholders have to fork out.
I can’t.
It could cost a large 5 figure sum I would moot.
Not that I disagree with your sentiments. I wholeheartedly agree. I wrote to the company again yesterday and said exactly this.
I wish everyone else would as well, instead of just complaining( which I do as well of course!)

[nocents] 20/3/2024 21:07

Sleepy . You may be right. I don’t know. Makes sense.

It then allows all shareholders to vote on just that resolution.
In the last AGM, remuneration was voted out as I remember.

[nocents] 20/3/2024 21:04

I am not in a position to quantify . It was a caveat from me. I just know that under the Companies Act 2016 , I think it is Section 3.11 that allows shareholders to convene a meeting . I always thought it was 10% of shareholders needed but people here are saying 5% so I don’t want to disagree if they know better. And they probably do.
I just know that shareholders are responsible for all costs if they call the meeting. I did one for Infrastrata in 2017. Wish I had stuck around. I voted in the new board and the old lot of lifestyle spingers resigned the night before when it was clear they would lose. The new board made a killing and a fortune and sold it. Became Harland and Wolfe. . As I was not clued-in as usual I made nothing.
It is just worth knowing shareholders pay.
Look up Companies Act 2016 Sections 3.10-13.

[aqc888] 20/3/2024 20:59

The cost of the egm is irrelevant. Management need to have their feet put to the fire or else we’ll be hearing half hearted “we’ll try our best” type stuff for the next 5years.

[sleepy] 20/3/2024 20:52

My understanding, which may be wrong, is that with sufficient shares a resolution or resolutions can be put on the AGM agenda.

[skyship] 20/3/2024 20:34

"an EGM costs a lot of money"

Really? Any guidance on that?

[nafafa] 20/3/2024 18:06

Nocents those large shareholders have had ample opportunity to act but evidently have done nothing.

[nocents] 20/3/2024 17:40

Lexus
I’ll stand by that.
We have been toyed with enough. This is not the company it was pre the departures of Tracy Mackenzie and Bruce.
Timing is important though.
I would suggest not pre AGM, but certainly thereafter. My opinion is that Galeota should be monetised, but I don’t think they will unless they have no choice. Salaries are good and some of us may be struggling with bills, but I doubt they are.
I don’t think 5% is impossible, but who pays for the EGM??

[nocents] 20/3/2024 17:33

I think we are just sideliners really. Those with big holdings call the shots.
But as a supporter of people power and the little man in numbers. I would agree.
I would hope Newlands et al will not tolerate any more fluster and bluster though. Last year was an indictment of the BOD’s recklessness and poor oil judgment.
However, let us not forget, no SPT Q1,a good oil price giving a bonus to Cavendish’s $66 ARP, no hedging,mini-div in June, and the possibility of a couple of bopd from 6 inches down in Jacobin. ( Hummingbirds don’t probe very deeply by nature. Trin should’ve followed example. And we still have to be told” what they have learned”. However…pistols at the ready with 5% post AGM. Don’t forget that an EGM costs a lot of money though. Who is going to pay for it??

[aqc888] 20/3/2024 15:57

If Ab wanted to take action there would surely be enough support to push over the 5% line, even if a few shareholders above don’t include themselves…

Personally I think we should hold our fire till the petrofac results are out. At which point any messing about and hesitancy over what to do next is met with a forceful EGM with management then given a clear mandate to release value asap.

[skyship] 20/3/2024 15:19

? Have I missed a post?

[nafafa] 20/3/2024 14:32

Do we not also have Arl's 24,000 ish to include, every little helps

[skyship] 20/3/2024 13:05

AQC888 - 60,000
Invest Ted - 24,388
Lexus880 - 74,000
Masterfly7 - 14,500
Nafafa - 88,305
nocents - 74,500
Pavey Ark - 114,380
Reiton1 - 357,671
Shabby1 - 180,000
SKYSHIP - 185,000
Sleepy - 250,000
Value Hound - 40,000

Total so far - 1,467,744 (3.78%).

[masterfly7] 20/3/2024 12:34

14,500 happy to add

[lexus880] 20/3/2024 12:26

Shareholder activism

Shareholder activism, an influential force in corporate governance, is a key component in shaping M&A transactions.

Activist shareholders can use their equity stakes to pressure management and boards into making changes that align with their interests.

In the context of M&A, shareholders might push for or against potential deals, advocate for better terms or challenge the actions of directors.

The Companies Act 2006 provides certain rights to shareholders, including the right to call general meetings if they own at least five per cent of the company’s paid-up share capital, giving them a platform to propose resolutions and voice their concerns and influence corporate decision-making.

[lexus880] 20/3/2024 12:25

Just a refresher:

Shareholder activism

Shareholder activism, an influential force in corporate governance, is a key component in shaping M&A transactions.

Activist shareholders can use their equity stakes to pressure management and boards into making changes that align with their interests.

In the context of M&A, shareholders might push for or against potential deals, advocate for better terms or challenge the actions of directors.

The Companies Act 2006 provides certain rights to shareholders, including the right to call general meetings if they own at least five per cent of the company’s paid-up share capital, giving them a platform to propose resolutions and voice their concerns and influence corporate decision-making.

[lexus880] 20/3/2024 12:06

NOCENTS:
Would you post a copy of your email so that if anyone wants to follow you, we'll be on the same page?

[invest ted] 19/3/2024 21:09

I've got 24388 and sat on a 50 percent loss.

[nocents] 19/3/2024 20:53

FYI
Vigo has passed my email to management questionning the vacuum of communication re.Jacobin, pump, etc.
Second email in 3 weeks(.
There is nothing stopping others.
[e-mail]
Patrick D’Ancona.
Decent guy.

[skyship] 19/3/2024 20:30

reiton - a very welcome addition - a good step on the way to the 5% threshold.

AQC888 - 60,000
Lexus880 - 74,000
Nafafa - 88,305
nocents - 74,500
Pavey Ark - 114,380
Reiton1 - 357,671
Shabby1 - 180,000
SKYSHIP - 185,000
Sleepy - 250,000
Value Hound - 40,000

Total so far - 1,428,856 (3.68%).

[relton1] 19/3/2024 19:54

Rarely post but always read.
Share holding of 357671 available.

[nafafa] 19/3/2024 16:11

Presently I would be prepared to cut my losses and accept 80p. My concern remains that there is an alternative agenda here to drive down share price and take the business private for peanuts!

[nocents] 19/3/2024 14:24

Do not forget the other very large shareholders, some of whom hold large stakes at well over £1. It cannot be taken out if they resist.