I think any holder that would not be happy after a major Cap...

I think any holder that would not be happy after a major Cap return(more than present SP etc) would just sell shares and move on .. of course can be voted down I would think the majority would be for it , rather than the status quo..

Surely many of those investors unhappy with CE1 mgmt would have left or be happy to see major capital return+ Dividends and still have shares to sell out and move on with life..

CE1 is not the only ASX micro-cap to have pissed off S/Hs ... go look at the likes of NZO/CUE ,,,had major amounts of cash backing but would never do a BUY back or dividend to S/H just keep paying themselves fat wages and giving the masses of minor S/Hs the bird ..

I had one spec Oil company VIL discover oil that when they went back was all gone >>> goodbye 90% of my capital overnight

SSN another I can recall mgmt keeped talking up utter BS and paying themselves HUGE MD 1mill paycheck ..ended up in Voluntary Administration

CE1 has failed to deliver to date but at least seems to be looking at options to drive the SP forward with a huge change of tack..planned in the future..

....High risk reward down this end of the market value O&G sector ..