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Anwar Awan: ‘There’s no point in getting capable people if you don’t have the cash in the bank.’ Photo: Tamara Voninski
by Angela Macdonald-Smith
After scuppering a $150 million consolidation of junior oil interests in the Cooper Basin late last year, Singaporean investor Republic Investment Management has emerged as the architect of a plan to revamp Innamincka Petroleum and fund its quest to exploit potentially lucrative but high-risk oil resources in the region.
This guy is the co-founder, executive director of RIM - based in singapore.
Who knows what the direction would/will be if it is the case that RIM are in hot persuit of Troy?
I am content with the current board and management at present times and in saying that they have done all the hard work to date although if it wasn't for RIM, the inspirational and ever motivating force, Troy may not be at the point it is now.
RIM - the inspiratilnal catalyst, ain't all bad for mine.
I would ask RIM whilst they are a force, how about influencing the calibration of director base salaries/remuneration and allowances etc to a fairer(shareholder perspective), non Hocus pocus, arrangement such as an earnings based on financial merit, variable concurrent to performance measures and profitability.
Ok so the meetings attendance fees for non executives was altered/removed this f/y but that is obviously a blatant stretch of financial exploitation consistent with the tools available within the corporate toolbox as I see it.
In this context if Troy does start to perform and provide profitability over the next couple of years I would hope this consideration is present and the restraint or attempt to hijack or proclaim greater share of available cash resource by the directors/management is at least delayed for a period in light of the period just passed or more to the point the capital expense put forward by shareholders to keep this shayt-box on the road, basically at the expense of the shareholders this rowboat continues to drift with directors on board and intact allbeit with their arses hanging out of their jeans and in tatters.
Go the Gold Price..
How much are RIM directors anyway?
TRY Price at posting:
11.5¢ Sentiment: None Disclosure: Held
