'calaban48' pid='23282' datel Wrote:
'petrengr1' pid='23278' datel Wrote:You can’t take this stuff out of context and quote it. You have to read it all and all together. Pay attention to the tense of the verbs. It is past tense because they are talking about an Employment Agreement that was signed in February 2012. And they are talking in past tense because Phil is no longer an employee. They are talking about the terms of the agreement not that Phil’s Employment Agreement was terminated. Read it as: Under the terms of the agreement we were permitted ... Then they tell you that he “retired” effective 30 April 2013. Please be assure he was not fired for cause or they would have had to make it public. I don’t know what he will get but I assume it will be whatever is appropriate for “retirement” under the agreement.I hear you, sir. Please don't shoot the messenger. I provided the context with the link. The quotes are verbatim, tenses and all. (After more than 40 years as a professional writer, I know my tenses, syntax and grammar. Some have called me a cunning linguist <g>).
My intent in posting this was that (a) it was filed today; (b) no one else mentioned it here; © it sounded to me like "material" information of which my fellow investors should be made aware.
We all "lost" money today, on paper at least. My concern is why. "Re-certification of the resource" in Friday's press release was an unfortunate choice of words. It has been used against IOC.
This proxy filing -- which I encourage everyone to read in full -- is news to me. It wasn't previously mentioned here; therefore, I shared it.
For what it's worth, I have a substantial (for me, at least) stake in IOC's success. I did no trading today.
Thanks for the interpretation, sir, with the greatest respect.
Calaban, thanks for posting the link. I had been looking for the proxy without success on the IOC website. On interpretation, as Petengr writes, context is all important. My view is that the lawyers decide what from the employment agreements should be disclosed to shareholders and the regulators. I don´t see anything peculiar in these disclosures from agreements made some time ago. And BOD seats do turn over. If this filing contributed to sell-off, its effect will be short-lived, imo.
katytrader