Below are some of the comments received to date. These will be considered and may lead to additional motions being brought forward at EGM should the matter be pursued. We will continue to update with comments received and of course everything published below is done so without prejudice.
"There should be further motions to have the Finance Director removed from the board. Kiran Morzaria is complicit in the company undertakings. Arguably, the FD is the one making the recommendations on placings and has almost certainly been the main influence for the well documented convertible loan note arrangement that results in the SP death spiral. I say he should also be ousted as a director".
- Feedback from site arbitrator: We are with you on this one and agree that the FD should also be subjected to removal from the board.
"Why should Sanderson be allowed to hold AGM's and then refuse to publish a recording of the AGM. I found the process for registering for the online AGM to be unreasonably complicated, as if it had been designed to put people off through the hassle of registering. So I'd like to see the recording of the AGM published to the UKOG web-site for all to see. Why can't they do this? Can something be done at a GM to bring about a policy that requires this to be done in the future?"
- Feedback from site arbitrator: An excellent point, why are the board so keen on restricting access and refusing shareholder questions?
"Who is this Allen D Howard and why is he on the board of directors? I've seen mention of his associations with a US company that provided services to UKOG at a high asking price. Is there not a conflict of interest there, or was that service provided in keeping with industry benchmark? Fact remains, there has been no information provided to shareholders that details what services were provided, or why the company that Allen D Howard is involved with were selected. Where is the procurement story, why were they selected, how much were they paid, what did they actually provide, where is the evidence of the service provision? This really does feel like one of those Tory rackets where the pals get a nice wedge for doing nothing. Is there a case here where UKOG have misled investors and not represented the best interests of the company?"
- Feedback from site arbitrator: We certainly want to hear more about this. There is no reason why UKOG should keep such matters undisclosed, so absolutely with you and a motion to require UKOG to provide full disclosure on the matter,
"Isn't it about time that the full technical data set for HH be released to public domain. UKOG should release that data and provide a summarised report to provide an overview of the operations, production rates, water ingress, technical issues and faults, pressure levels, etc. As a shareholder with over 6m shares, I would expect a reasonable level of technical reporting rather than trying to pick the bones out of the O&GA stats and poorly constructed RNS's. It feels like UKOG are withholding key data that is market sensitive. Can they not be mandated to provide all technical data and a summary report for HH?"
- Feedback from site arbitrator: 100% with you. Another good point and one that merits a motion at a EGM. Something along the lines of "Motion to require that UKOG provide detailed quarterly updates on HH (and other assets) including all technical data and a summary report".