KAR 0.00% $2.16 karoon energy ltd

AGM must be held before 30th November. Scenario 1a: - AGM held...

  1. 916 Posts.
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    AGM must be held before 30th November.

    Scenario 1a:
    - AGM held pre K2 results
    - Remuneration report voted up, status quo continues

    Scenario 1b:
    - AGM held pre K2 results
    - Remuneration report voted down, next step EGM (post K2 results)
    - K2 results good, shareholders happy, Board relected at EGM
    - K2 results bad, shareholders unhappy, Board toppled at EGM

    Scenario 2a:
    - AGM held post K2 result
    - K2 results good, shareholders happy
    - Remuneration report voted up, status quo continues

    Scenario 2b:
    - AGM held post K2 result
    - K2 results bad, shareholders unhappy
    - Rem report voted down, next step EGM
    - Board toppled at EGM (before KW result)

    I agree the board needed to be seen to be doing something positive ahead of the AGM to avoid getting toppled. By positive I mean responding to Instros (& shorts (um buyers) sub $3.50) wanting buy back, a farm out in Brazil should also be enough to carry them over the line if they think 20 million shorts really represents a building protest vote. As an investor, if you didn't believe in K2, you may as well bail now.
 
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