I admit that the HCI connection was what initially interested in...

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Rick.Wills99

135 Posts.

17/06/19

19:41

Post #: 39100610
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Originally posted by friendlydwarves: ↑

@Rick.Wills99 your phraseology suggests you are confusing delisting and conversion to a proprietary company. What is proposed is the former, not the latter. That will indeed come with a reduction in reporting requirements, because ASX listing rules mandate more than the Corporations Act does - however there's still a big difference between reporting required of public companies, and that of Pty Ltd companies. OCP will still need to file financial statements and hold AGMs, for example.

https://asic.gov.au/regulatory-resources/financial-reporting-and-audit/preparers-of-financial-reports/reporting-obligations-for-public-companies/

As for management, I may be proved incorrect but in my view you're being a bit harsh. I have (solely in my capacity as an OCP shareholder) had quite a lot of contact with Messrs Moran and Jacobson over the years. They've always been quite open and communicative. Also, Moran isn't an HCI stooge. He's was with OCP well before HCI took a majority stake. And finally, Scheiner and Jacobson are very heavily incentivised to maximise shareholder value for all, not just HCI: they each have interests in about 2.2m OCP shares. Moran isn't quite as long but his interest isn't far off 1m shares.

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I admit that the HCI connection was what initially interested in the company and I do like that directors have skin in the game. I just don't know enough about managements philosophy to confidently hold on in the face of illiquidity and lower disclosure requirements.

I wish you well. I'm sure it will work out well for those with a long time horizon.

OCP Price at posting: $2.15 Sentiment: Hold Disclosure: Held
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I admit that the HCI connection was what initially interested in...

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