The other thing it indicates is that the status quo is TEMPORARY.
ESG is the operator of almost half a billion of Santos' investments.
Who do you know invests that much, and doesn't want to oversee their investment?
- If you were a 'passive' investor, you would want a seat on the board. Like HGO did with their ESG shares. Like NHC and Arrow.
- If you were a commercial partner, and were working cooperatively to commercialise all of PEL 238's gas with ESG, you would have a seat on the board. Of course, no such partnership exists.
BUT, if Santos considers their current ESG 'investment' TEMPORARY, and is making plans to (attempt to) take full control, then the current lack of representation makes more sense.
And it appears the market today doesn't believe Knox's spin either.
Yaq
ESG Price at posting:
83.0¢ Sentiment: Buy Disclosure: Held
