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clock Created with Sketch. 13/06/17
14:13
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Originally posted by PhillW
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Exactly Jems! Anyone that coughs up AUD$600M on the assumption that if I haven't received an objection that the deal is done is an overpaid fool. How hard was it for WPL to draft some correspondence to the Senegal govt requesting that they put approval of the deal in writing? Basic document control for any organisation, never mind one with a market cap of over $25B. It's called dotting the I's and crossing the T's. The contract manager should be sacked for incompetence and the board should face serious consequences for authorising payment to COP without any written confirmation of the approval. It's an absolute joke, serious mistakes were made and board members, CEO's and managers with involvement in this should be shaking in their boots. My thoughts are that the outgoing chairman will want this matter settled as it will be a blight on his reputation if a new chairman walks in and does what he should have.
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I think they are all feeling the heat still from the "strike one" by share holders and didn't PC took a $1 mil pay cut as well? Then there was also the OSH saga. Not a good run. Now FAR.
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