PEN peninsula energy limited

(UPDATED) Peninsula's Chair leaves building as investors wait for guidance; shares suspended, page-3

  1. 3,881 Posts.
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    You say "While Wayne’s eventual departure was flagged by the company back in November, it is without doubt unusual that an announcement such as that released by Peninsula on Monday spends so much time regarding the retirement of NEC John Harrison, then abruptly confirms Heili’s exit."

    Not sure I follow, flagged in November is hardly abrupt, especially when you consider his successor was brought on board earlier this year.

    The announcement was more about well regarded David Coyne replacing Harrison as Chairman. Clearly a big announcement on top of the recent management changes. Why would they dwell on Heili's departure?

    Think you also miss the gist of what's going on, which they clearly state...

    Our new senior executive team - Managing Director George Bauk and Chief Financial Officer Jitu Bhudia– is currently working closely with the broader leadership team and Board on establishing a disciplinedand sustainable path to production. This includes updating our production forecast, completing andcommissioning the Central Processing Plant, mitigating risks associated with sales contracts, andensuring we have adequate funding to deliver the revised production forecast.


 
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