NZ Oil & Gas (NZO)

[fish]

Probably given us time to think about changing these two fake independent directors for real ones.

Fully agree but we have got little time before nominations need to be sent in.
I would love to be a director but have never been one and I am sure there are better people able to represent our interests.
Any ideas?

[Vaygor1]

[QUOTE=airedale;773265]

Interestingly I see they have announced an AGM on the 12th Dec. Surely if the SOA was going to be successful there would be no need for an AGM (one that current shareholders would attend)?[/QUOTE

I see that the wording for the notice of the AGM is that a meeting is expected to be held. Am I reading to much in to that? {conspiracy theory]?

No you're not reading too much into it. I thought exactly the same thing when i read it. Never seen this before, I'm used to the term '... will be held ...."

Addendum...

Under normal circumstances the announcement would set the date, time, venue, and purpose of the meeting. This would then, if need-be, be followed by some tags stating that the meeting date, time, venue, or purpose may change with an explanation as to the reasons why.

To state a meeting is expected to be held means no meeting date has been set.

So, has a meeting been announced or not? The answer has to be No.

[blackcap]

Fully agree but we have got little time before nominations need to be sent in.
I would love to be a director but have never been one and I am sure there are better people able to represent our interests.
Any ideas?

Hi Fish, check your inbox.

[airedale]

I voted NO to the scheme today. A modest number of shares but every little helps.

[digger]

Fully agree but we have got little time before nominations need to be sent in.
I would love to be a director but have never been one and I am sure there are better people able to represent our interests.
Any ideas?

One of the lasting things to come out of this SOA is the shocking behaviour of the independent directors. They have shown that they are not the least independent and are in fact slaves to the wishes of OGOG who call the shots.
What I would like to see is that in a company like NZO where more than 50% of the the shares are held by another company ,then the independent directors need to be elected outside the control of the master holder. I intend to bring this up at the next meeting of NZSA. I find the subserivant attitude displayed by the so called independent directors of NZO served only OGOG and to hell with the minor holders.They recommended that we allow ourselves to be pretty much be robbed.

So if we ever can we sure need these two removed and replaced by independent directors voted in by the 30% not held by OGOG. On the present company structure this will never happen,so any company having 50% or more of their shares held by another company will have slave directors.

[fish]

One of the lasting things to come out of this SOA is the shocking behaviour of the independent directors. They have shown that they are not the least independent and are in fact slaves to the wishes of OGOG who call the shots.
What I would like to see is that in a company like NZO where more than 50% of the the shares are held by another company ,then the independent directors need to be elected outside the control of the master holder. I intend to bring this up at the next meeting of NZSA. I find the subserivant attitude displayed by the so called independent directors of NZO served only OGOG and to hell with the minor holders.They recommended that we allow ourselves to be pretty much be robbed.

So if we ever can we sure need these two removed and replaced by independent directors voted in by the 30% not held by OGOG. On the present company structure this will never happen,so any company having 50% or more of their shares held by another company will have slave directors.

That is the legal position Digger however we have so much against OGOG and the Independent directors that their current position is untenable.
Should it progress to an AGM motions of no confidence in the Independent Directors will be filed.There is a lot more to come both official and some private.
It is possible they could be spending time in court.Every action they do will be closely scrutinised .It is possible there will be political scrutiny soon(others will soon be acting and I plan to see Winston Peters )

[digger]

That is the legal position Digger however we have so much against OGOG and the Independent directors that their current position is untenable.
Should it progress to an AGM motions of no confidence in the Independent Directors will be filed.There is a lot more to come both official and some private.
It is possible they could be spending time in court.Every action they do will be closely scrutinised .It is possible there will be political scrutiny soon(others will soon be acting and I plan to see Winston Peters )

Agree Fish the political side needs to be awaken to what is happening.

Now I think we need to move on getting someone to reppresent us on the board.. Who do we know who is committed be stand as a director. It will not be me as I am too old and it is really not my thing but some of you other activist need to move on it. Mista Tea, Fish or Wirenu what do you think and are you willing to bang your heads against the 70% that will be against you from the start.
As I am one of the larger holders of the 30% group and will not be going forward as a director,I want to push this thing. While defeating the 62 cent SOA is important replacing these two slave directors with independent ones is just as important. Some voters listen to Independent directors and in this present case it is a fact that one large holder in this 30% group did just that and voted in favor of the scheme. A very strong reason to get Independed directors independend.
So lets put up or shut up in the next few days.

Thoughts

[iceman]

A very interesting discussion on this thread from some heavily invested and wise posters. I haven’t read all the recent posts but have you guys sought help from NZSA, particularly with a suggestion of an independent director ? They may have some helpful suggestions

[digger]

A very interesting discussion on this thread from some heavily invested and wise posters. I haven’t read all the recent posts but have you guys sought help from NZSA, particularly with a suggestion of an independent director ? They may have some helpful suggestions

Yes I am a member and will be bringing this up at the next meeting.I spoke at the last meeting so they are sort of expecting me for an update on NZO and the SOA. This will no longer be about the 62 cent SOA as it is dead in the water but a consequence of the way it unfolded. We need to change the independent director as they are what my wife calls HIRE GUNS for OGOG and clearly do not represent us minor holders. Or will only represent us if doing so does not conflict with their primary objective of representing OGOG.

[Leftfield]

A very interesting discussion on this thread from some heavily invested and wise posters. I haven’t read all the recent posts but have you guys sought help from NZSA, particularly with a suggestion of an independent director ? They may have some helpful suggestions

Must say I'm surprised that as a NZSA member we haven't heard more from them on this issue.

Although not a NZO share holder I don't like to see this sort of rort going on. Reminds me of the Macraes Mine saga some while ago. GLH.