OIP 0.00% 4.3¢ orion petroleum limited

esg agm, page-6

  1. 1,879 Posts.
    Hi guys,

    Since I won’t be able to attend AGM, I would appreciate if one of you asked a question on behalf of me.

    * How could the management of OIP justify a statement “‘The proposed Schemes have the unanimous support of the directors of Gas2Grid without a material personal interest in the matter, and they intend to vote in favour of the proposed Schemes'.

    Since Mr Morton, King and Munns own about 36% of all GGX shares and options, the evidence suggests otherwise.

    As below:
    Dennis J Morton -Chairman of OIP & Managing Director of GGX
    His interest in GGX shares and options
    27,208,132 ordinary GGX shares
    17,604,066 listed options in GGX

    David King – retired from GGX but Non-Executive Director of ESG
    Interest in shares and options
    8,460,440 ordinary GGX shares
    3,330,220 listed options in GGX
    D A Munns – GGX Director (‘a successful merger will benefit from board and management with complementary skills and extensive experience’ ???)
    Interest in shares and options
    13,423,600 ordinary GGX shares
    6,711,800 listed options in GGX

    Totalof GGX shares owned by only three management’s figures is equal 49,092,172 (28% of 177,219,488 GGX issued shares) and total GGX options owned by them is equal 27,646,086 (72% of 38,584,422 issued Options). Overall it is about 36% of all GGX issued shares and options.

    I think this merger is designed to benefit the above Board and Management members and not OIP shareholders. Unbelievable

    Cheers nj
 
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