Chariot Oil & Gas Limited: Corporate Update (05 May 2015) Review...

Chariot Oil & Gas Limited: Corporate Update (05 May 2015)
Review of Board Remuneration and Board Changes

As part of Chariot's ongoing focus on capital discipline and in light of the current business environment, the Board has reviewed all costs, including the remuneration for all of its members.

· The remuneration of all Board members to be reduced by 50%

Larry Bottomley, CEO commented:
"This Board decision to significantly reduce its overall remuneration package is directly linked to our continued focus on capital discipline whilst ensuring that we maintain the capacity to execute the business plan. We retain our exploration expertise and operating capability and we remain committed to delivering on our strategy and preserving Company funds."

Bold sections are my doing.
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Directors' remuneration for 2014. (P34)

Agree that salary cut, per se, is minimal impact on loan facility but it would be an enormous PR lead......

Have a great weekend
MS