The circular is disappointing and poorly written, IMHO.
The way their experience reads, I see no LNG development experience on the board although they say in another part of their dribble that they have 'LNG project expertise.'
Why do we have offices in Singapore - absolutely no need for offices outside PNG.
They do not discuss the share price performance, even relative to other similar oil companies.
They ignore the pay issue except for saying PM's proposal would affect their ability to attract qualified directors and officers. That is total BS. Paying our CEO as PM suggests would attract many well-qualified personnel - one can look at the SPE Salary survey to verify that.
Our $7 million dollar man is hugely overpaid. By any objective standard he is paid about 7x too much. And how much of that huge overpayment has he used for IOC stock? $0? Wait until we see the bonuses handed-out after the certification payment - we're in for a big shock. Disappointing. Unless we can get some of PM's resolutions passed.
I'll sure be voting with PM.