NZ Oil & Gas (NZO)

[CD_CHCH]

Hi Digger,

Following recent posts from Wiremu and Blackcap I went online to Computershare and voted.

To the best of my recollection I haven't received anything from NZO in regards to voting.

From what I understand shareholders can vote online up until 10th December ready for the AGM.

I had a quick skim through the AGM notice while online at Computershare and noted with interest that NZO was doing their utmost to protect the old boys network by recommending shareholders vote for their man Rod, and vote against Brian and Samantha.

Given the total contempt they have shown towards the small shareholders recently I figure that voting against NZO's recommendation to re-elect Rod is our best and safest course of action.

[blackcap]

Just voted online for Brian, and voted against Rod.

Logic being, the current director's did absolutely nothing to look after and protect the interests of the small shareholders in the recent scheme of arrangement, whereas Brian was working hard behind the scenes to assist the small shareholders in NZO.

Even if as a group, the small shareholders are unsuccessful in having Brian elected and/or preventing the re-election of Rod, it should serve to send the current board a powerful message if all the small shareholders were to vote against Rod's re-election.

Hopefully given the recent public statements from Beach Energy and Cue regarding the chances of success with Ironbark, the Takeover Panels will take a long hard look at the statements made by the NZO directors, and call them to account.

Hi CD_ChCH,

I see that you voted online for Brian and against Rod. There is another director standing (Samantha Sharif) who is aligned with our interests and it would be worthy to give both Brian and Samantha our votes (and against for Rod) to show the Board that we have no confidence in BOTH current independent directors (although only 1 is standing for re-election) and want 2 alternatives. Samantha and Brian have no show at all of getting elected to the board as OGOG have the veto vote. However if both Samantha and Rod could get the majority of minority votes then that will be sending a statement.
I would consider you also vote for Samantha if you have not done so already. I am voting for both Samantha and Brian and against Rod.

[airedale]

This is outrageous, just eight days from when voting closes and there has been no communication by post or email from the company about the AGM.
I will be voting through computershare, thanks for the "heads up" guys.

[CD_CHCH]

Hi Blackcap,

Good point and forgot to mention in my original post that I had also voted for Samantha.

I note that NZO have recommended shareholders do not vote for Brian or Samantha - could it be they are terrified of having a truly independent director on the board and the fresh scrutiny that would bring?

So to recap my voting was as follows:

Rod - voted AGAINST
Brian - voted FOR
Samantha - voted FOR

[blackcap]

Hi Blackcap,

Good point and forgot to mention in my original post that I had also voted for Samantha.

I note that NZO have recommended shareholders do not vote for Brain or Samantha - could it be they are terrified of having a truly independent director on the board and the fresh scrutiny that would bring?

So to recap my voting was as follows:

Rod - voted AGAINST
Brian - voted FOR
Samantha - voted for FOR

Haha well I am not sure they are terrified as you put it but I think they want their own "independent" directors who are maybe more "pliable" (just my opinion of course). Standard practice from a board. Normally a board chooses who they want to represent the company and then put it to shareholders for a vote. Brian and Samantha are not who the board wants. But under NZX listing rules they have to open nominations from other shareholders. Normally no one gets nominated but in this case some shareholders feel are exceptional circumstances are warranted and have nominated Samantha and Brian. Who incidentally also both spoke at the SOA meeting in Wellington recently.

[Sideshow Bob]

This is outrageous, just eight days from when voting closes and there has been no communication by post or email from the company about the AGM.
I will be voting through computershare, thanks for the "heads up" guys.

I've had a good look, and not received anything.

[blackcap]

I've had a good look, and not received anything.

It just goes to show how inept their governance really is.

[Independent Observer AUNZ]

I've had a good look, and not received anything.

If this is true; NZO are breaching the NZX Corporate Governance Code and could (should) face action.

[blackcap]

I do know a notice of meeting was sent to the NZX:

https://www.nzx.com/announcements/344306

however I have checked my email and snail mail and nothing has arrived from the company. That is a bit of a worry.

[airedale]

Resolutions 2,3, 4, are for the election of independent board members. Does anyone have any thoughts about resolution 1 and 5. Number 1 seems to be house keeping re the NZX listing, and number 5 is about opening the company's books and accounts to public scrutiny.