At 6 am this morning, Alternate Board published., page-21

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psi81

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08/05/17

13:22

Post #: 24542742
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Originally posted by Camdenbob ↑

Hi Psi 81

Many thanks for your comment, I thought you were keeping very quiet recently.

Can I say, I can understand why you may consider that you would not hold if JH is on the board.

I think I should state my reasons why I invited JH to be part of this alternate board so that there is no misunderstanding.

On the assumption that the NO vote gets up, a board will have to be put in place VERY quickly to ensure 1) compliance with Corporations Law 2) and it will need to get a grip on the issues facing CTP VERY quickly.

There is simply no one who could walk into CTP and assist the BOD as quickly as JH, this in itself is a cost saving exercise.

He will NOT be coming back as managing director. But as a NED. And like all other directors WILL have to stand for re-election at the next AGM later this year.

So if shareholders are not happy to have him there, they can vote accordingly

Given that JH would be out voted by the other board members should the need arise, then a great deal of control will be in place.

Let me say, I realise that John has a very strong personality but I say he " has been unfairly demonised"

I have known this person for approx 9 years, NEVER in all that time have I seen him do anything other than the right thing for shareholders.

I have NEVER seen or heard him lie, I can say with absolute conviction that he has nothing but the welfare of CTP at heart.

He was vindicated by the judgment in the Supreme Court of Western Australia and was doing as he was required to do.

The fact that Mr Halgren currently resides in a United States Prison, and has to repay $567,000 to CTP is clear proof that the investigation commenced by JH was warranted.

That is normal human resources procedure.

I would ask you to "give him a fair go" and see what the new board can do.

Certain things are happening behind the scenes which cannot be discussed publicly.

I will keep every one informed

CB

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Thanks CB, I figured that was the reasoning re: JH and glad to have it confirmed.

I am not questioning JH's character or integrity, or his actions leading up to his dismissal. My issue is around his judgement regarding CTP's exploration and farmout strategy when he was MD.

I would happy to have him as a NED, though. In general I am wary of geologists in MD roles but having a geo on the board I think is a real asset, particularly one who has experience in the basins and rocks.

CTP Price at posting: 20.0¢ Sentiment: None Disclosure: Held
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At 6 am this morning, Alternate Board published., page-21

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At 6 am this morning, Alternate Board published., page-21

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