I have held MEO for some time and have been watching the Hot Copper posts with interest. I have also learned more about the O & G sector and the secrecy around the positioning of the players. Thanks to all the contributors. This is my first post. I attended the "Santa Claus" AGM and like others, am sitting on losses at the moment. Hoping for a rebound soon. At the last AGM when the long term incentive plan was put to the vote it was interesting that one board member and one shareholder opposed the proposal. It raises the question as to what might be presented this year at the coming AGM. Last year it was stated that the share price at July 12 was 25.5 cents and this seemed to be the base upon which the incentive was calculated. The condition for the MD was that the share price needed to be 50 cents for 30 consecutive days for July 1 2012 to June 30 2013 re the first tranche of the rights performance. Obviously this was not achieved. The figure of 50 cents was apparently based on two times the share price at July 1 2012. Let's hope that any proposal for similar incentives for this year'a AGM is not based on 2 times the share price at July 2013. In my view there should not be any change to the 50 cent hurdle.
MEO Price at posting:
7.0¢ Sentiment: None Disclosure: Held
