CTP central petroleum limited

Ann: Notice of Annual General Meeting/Voting Form, page-22

  1. 55 Posts.
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    Let's recap shall we?

    July 2028 - Richard Cottee forced out as CEO. Stock Price around $.17
    - Leon Devaney appointed acting CEO.
    Feb 2019 - Leon Devaney appointed CEO.
    Jan 2020 - Stock Price at $.14
    Jan 2021 - Stock Price at $.13
    Jan 2022 - Stock Price at $.08
    Sept 2022 - After months of hype and wishful thinking CTP management announces that the big well in the desert was just a big dry hole.
    Sept 2022 - CTP Board Chair announces the appointment of a "Strategic Review." Said review has yet to be shown to the shareholders.
    Jan 2023 - Stock Price $.11
    June 2023 - CTP CEO announces that the overly hyped Peak Helium deal has gone up in smoke, after Peak Helium missed several million dollars in payments. Where the heck was the due diligence?
    October 2023 - Stock Price $.049

    Some quick facts:

    -Current CEO, Leon Devaney, has overseen the stock plummet by nearly 3.5 times what it was when he took over.
    -Two big deals to turn the company's fortunes around have blown up under this CEO's management.
    -The strategic review that was supposed to give the Board of Directors guidance has either been "memory-holed" or is being held back out of fear of what's in it.
    -Leon Devaney's tenure as CEO predates the entire current Board of Directors.
    -Despite all the missteps and screw-ups by management, the BOD keeps giving the management team raises and stock options.

    Now the Board of Directors wants us to vote "Yes" on their remuneration. The Board is supposed to work for the shareholders. They' are also supposed to keep management (CEO, CFO, COO) in line. The Board has failed miserably at their primary task.

    No need to guess about my vote.
 
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