Key Messages

WHY YOU SHOULD VOTE AGAINST CROWN OCEAN’s PROPOSALS

  • COC is NOT offering shareholders a fair deal
  • COC’s plans substantially reduce the Company’s options and ability to maximise value for shareholders
  • COC’s intent is to create a holding company, strip the cash and leave the Company unable to pursue value creation opportunities
  • COC is NOT presenting a credible strategy to realise long term value from the assets
  • COC intends to remove the existing Board, delivering stewardship of the Company into the hands of unvetted and inexperienced COC appointees
  • The Resolutions would result in the nominees of a 15.56% minority shareholder controlling the Board, leaving it with no independent directors representing the interests of Shareholders as a whole and rendering the Company non-compliant with applicable corporate governance guidelines
  • COC’s vote against the share buy-back programme has already damaged Shareholders by removing a tax efficient way to return excess cash
  • COC’s plans will remove valuable knowledge of the assets and also well-established relationships and interfaces with key Cameroon decision makers
  • COC’s proposals remove Shareholders’ best chance to maximise value

REJECT COC’s PROPOSALS

SAY NO TO ASSET STRIPPING

  • Your Board is committed to maximising value from the Company’s assets through the implementation of its corporate strategy
  • Your Company is staffed with experienced oil and gas professionals focussed on creating value and delivering material upside to all Shareholders
  • Your Company is in a position of STRENGTH and your BOARD is best placed to deliver for ALL Shareholders

SAY NO TO BAD CORPORATE GOVERNANCE

  • Your Company already has a fully compliant Board, providing you as a Shareholder with effective and appropriate governance for your investment