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+--- Thread: My message to Hession (/showthread.php?tid=5537)
My message to Hession - calaban48 - 12-12-2013
michael.hession@interoil.com
Dear Mr. Hession,
I am certain you are hearing plenty from InterOil shareholders these days, but I feel I must add my voice.
Congratulations on signing what I consider to be a very good deal with Total SA. The market, however, has not seen it that way. I am given to understand that your hand was somewhat forced in the timing of the deal announcement, and that is indeed unfortunate.
The precipitous decline in IOC's share price that has occurred since the announcement is, in my view, only partially an effect of market opinion. The price today is the product of pure and simple manipulation, and I think that is something InterOil needs to address promptly.
I would urge you and your colleagues to employ every tool in your arsenal to thwart these efforts to control the stock price, whether it's a dividend of some kind or a stock split, or any number of available measures.
Please fight back on behalf of your loyal shareholders.
Thank you for your time and best wishes from Canada.
-30-
RE: My message to Hession - Movieguy - 12-12-2013
Excellent, Calaban. Here is what I sent to Dr. Hession and Wayne Andrews:
Like most shareholders, I am very disappointed in the Interoil share price action following the "transformational deal" announcement. I think the deal is very good, and though I believe specifics regarding the announcement and the explanations in the CC could have been better, I think it is clear to everyone that the stock is being manipulated by shorts. I believe management has to fight this directly in support of shareholders. It is your fiduciary responsibility. Good business fundamentals, even GREAT business fundamentals do not seem to be enough to reward shareholders.
There are lots of good opinions (and a few bad ones) at the Shareholders Unite website. I hope Interoil monitors the forum both to gauge shareholder sentiment, as well as possibly pick up a good idea or two. Some of the suggestions to fight the shorts have been:
-- Seek a sale of the company
-- Allow and encourage the bidders on Elk/Antelope to buy significant shares in the company. They know better than anyone how much value is in Interoil.
-- A 33% return of capital of the $612 million payable at closing in the form of a special dividend. Additionally, use 33% of interim resource payment (approx $3.3 billion total based on GLJ best case) for a share buyback program.
-- Tiny, but regular stock dividends. Even a 1% stock dividend (note, not a cash dividend) forces the shares to have to be accounted for. This can wreak havoc for shorts.
These are just a few ideas. PLEASE do something!!!
RE: My message to Hession - ebster123 - 12-12-2013
Gentlemen, I commend your efforts and will attempt to write an equally effective message to MH and the board. I am not as confident about WA. Thanks again, T
RE: My message to Hession - Kaliboo - 12-12-2013
Excellent. Can't improve on that. Except perhaps IOC should request SEC investigation into manipulative trading allegations
RE: My message to Hession - ebster123 - 12-12-2013
Kaliboo, many of us have spoken to and filed official complaints with the SEC over the recent months and years. Sadly, that do NADA. IOC should do it but I would not hold your breath for a positive result...