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Ann: LNGL Comments on Vietnam Power Development Plan 7 Approval, page-16

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mbatista

903 Posts.

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27/12/19

15:02

Post #: 42140339
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Originally posted by MoneyBags1348: ↑

"why do you still hold???"

"Just goes to show that some 'contributors' on this and other HotCopper forums are simply plying their own agendas to suit their particular needs. Way too much white noise here now"

"Anyone blaming management when there is no substantial justification is simply trying to shift the blame for their own investment decisions away from themselves"

Well FD I agree there’s way to much white noise here, but as far as other comments;

It’s pretty obvious why people hold, and it’s been obvious for so long I don’t know why questions like those above continue to be put on these threads, because I’m pretty sure deep down nearly everyone knows why!!

Many holders continue to hold because they don’t want to face the losses they would incur if they sold at the current price. They hold in the hope that one day the binding contracts required will be signed and they will be able to get at least some money back. And in the meantime they vent their frustration at management.

Why blame management?

Here are a couple of reasons (FACTS!!)

Because since 2016 (following GV’s tenure) LNG has made no less than 9 market release statements forecasting (and or stating) that they were finalizing offtake agreements, going to achieve FID, have the whole facility contracted, and begin construction by 2018.

LNG management then perpetuated these market releases with other statements such as “No one is horse-trading”; It’s not a matter of if, it’s a matter of when”; Confident of signing offtake agreements with credit worthy buyers later this year or early 2018”; “Talking about deals up to 25m tons”; “Likely finish selling remaining capacity at Magnolia by the end of 2018”; “Expected to make that call by the end of 2018”; “Confident of reaching FID whether or not China participates”; “Expected to make FID in the second half of 2019”....

There are many more statements than what's above, I’ve lost count of the times management said they were “Confident of”. This information has been posted before as everyone here knows!! I’m over reading speculative and half baked fact less comments when everyone who has held shares in this company and commented on these threads knows exactly what has transpired.

Why should share holders hold the CEO accountable?! Re read the above paragraphs, particularly the sentences highlighted. What have we got from management? Excuses!! Since GV took charge I haven’t seen any acknowledgement offered up by management.... it took a share holders vote at the last AGM voting down two directors and voting ‘No’ to GV’s Performance Share Rights to get some acknowledgement.

So every time someone tries to void this company’s accountability and responsibility to share holders who have poured money in to pay management’s salaries, I’ll repost these facts, possibly in larger font.

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It's managements job to present the best case and promote the company's chances. The facts conveniently left out are that no other comparable company is doing any better and the LNG market remains in the toilet.

Attempts to sheet blame home to management, allegations of misleading statements and threats of complaints to ASIC have all come to nought.

A larger font won't change those facts.

LNG Price at posting: 19.3¢ Sentiment: Buy Disclosure: Held
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