Couple of questions on the scenario of an EGM being called and all board replaced by WS and his hand picked team.
Is their a conflict of interests with a Director in a listed company also owning the IP Agreement ? Sometimes there will be a need to make a decision which is to CKK and her shareholders advantage but to the IP holders disadvantage. Then what ?
How would we feel if drilling contracts start moving the rig out through his sons shell company ?
Ive said it before if WS gets to control the board and CKK and as people say he has our best interests at heart he will start buying shares and sell the IP into the company. Otherwise give it 6mth and we be chucking another board out.
Also the damage was done at the stage Nanne & Trevor signed off on an IP Agreement which commits CKK to a massive spend in 2 rigs a year. Doesn't sound like the board have been great but what in history shows WS will be any better ? He tried and failed in Globe Drill and doesn't exactly strike me as a team player who likes to be said no to.
CKK isn't someone's personal plaything and I'm not sure a new board with WS leading it is going to be any better for us IMO. Rarely is a good inventor a good business person it's a completely different skill but I'd be happy to be proved wrong.
CKK Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
