f*ing oath i will be vote against as well

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maihoangson91

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10/03/21

16:37

Post #: 51665525
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Originally posted by ogobserver: ↑

Some nuggets from the last couple of annual reports.

Over the last 12 months total shareholder return has been -51.2%.....but don't worry! It's not all bad news, oh no, not at all! OSH will pay out $68.6million in dividends! Hopefully that makes you all feel a lot, lot better. If it does probably best gloss over that the total remuneration for executives was $14.1million equivalent.

If the thought of management paid $0.2 for every $1 shareholders get paid (ignoring that they get dividends too) makes you feel a little sick, comfort yourself with the following statement from the last annual report:

"Oil Search regularly assesses whether downside [oil price] protection is required. At 31 December 2019, the company remained unhedged".....having lived through an abrupt downturn in oil price, massively diluted the company and delivered a -51.2% shareholder return they have decided that some expensive hedging at $55/bbl is a good idea. Kudos, the only failure is the failure to learn, and pay yourselves massive bonuses while presiding over shareholder value destruction.

Will be watching very keenly to see how the remuneration report vote goes. There are no successful mid tier companies where management are so misaligned with shareholders. I will vote against, I am not so foolish as to think my vote is going to change anything by itself but those with influence should be sending a message to management that their incentives need to be aligned.

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f*ing oath i will be vote against as well

OSH Price at posting: $4.28 Sentiment: Hold Disclosure: Held
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