thoughts on current events, page-54

Ravi,

IMHO, JH, as he is still a Director of the company, he is still entitled to get his emoluments entitlements the same as all other Directors. From what I know, the board has no powers to dismiss another Director and cannot dismiss another Directors, as that part is up to individual shareholders to be voted upon.

I am now of the belief, that the current Board, at shareholder disadvantage, will try and do anything to get support from the large investors and financial Institutions in order to gain their support should the need arise, and vote JH out. When they will reach that support, IMHO they will call an EGM and bingo, JH will be out of the Board as well.
If the Court will decide that he should be reinstated, I feel quite confident that they will come up with an excuse to terminate his position and they may even come up with an agreed figure with him so that he will leave the company in good harmony.

All of the above has happened before and I wouldn't be surprised, in this instance, that it will happen again. DYOR on that.

And that, to me, is possibly what they are doing now with the raising of capital with the aim and intentions of gaining that support that they strongly need to retain their position. After all, haven't we just finished a CR not so long ago? And, haven't we already raised the cash to complete the 3D and the EPT, plus some more cash to proceed with further drilling, and of course the cash that we will be receiving from the sale of the crude that we will be pumping. After all, an announcement stating as much has already being released.
So, why the urgent need to raise some more capital now, lol.

The ones that will be suffering in the end though, will be us as we will get diluted to kingdom come, and they will retain their position and share in the spoils.

Plus, as he was an employee of the company he would also be entitled to the termination payments, plus any other payments and entitlemenst that were agreed upon prior to his appointment to the CEO position.

Finally, if and when it wil go to Court, unless of course an agreement or a settlement is agreed upon prior to reaching that stage/fase, he would be entitled to, if he was to be winning the case against the CTP Board, to what the court will decide as to his damages, loss of earning and possibly punitive penalties/damages for the Board having dismissed him without real cause.
We all know that he has been dismissed, but no one really knows the cause of it. And if it was so serious, IMHO, it should have been announced.

At this stage of the game it is all up in the air and no one can tell you the exact amount, if any, that may become due and payable to JH. But if we are to take in consideration what he told me that he has had some solid legal advise that he is going to win the case and to proceed with taking CTP to Court, thing may turn to be real expensive, and we, the Shareholders will end up having to pick up the tab.

Cheers,
Buddy134