You know it and your Crescent Point Board knows it: These are difficult times for shareholders of Canadian oil and gas producers.
We all wish things were different. But they’re not.
It’s easy for outsiders to complain about the environment we find ourselves in and use hindsight to criticize past decisions made but hard to come up with a plan to address it. We have a plan and a team with the discipline and patience to see it through.
That is the choice before you. A plan that is working—from a refreshed board you can trust—or disruption with Cation’s self-serving agenda.
Cation was formed only four days before it suddenly showed up on our doorstep, hours before the deadline for providing notice of nominees under our advance notice by-law expired and demanded four seats, or 40%, of your board. The nominees are not additive and do not enhance your board. Cation has no plan, no track record, no prior engagement with us, no shareholder support, and a low investment, especially compared to their demands. Its proposition is that after 12-18 months on the Board the nominees may figure something out.
In contrast, your current refreshed 10-person board, with seven new independent directors since 2014, has been formed through a robust and diligent recruiting and governance review process tailored to continue with the disciplined execution of the real plan that is underway and set to deliver results in the face of tumultuous times.
Your vote matters and will decide the fate of your investment. No matter how many shares you own and even if you have never voted before, voting your WHITE proxy for your current Board is fast and easy. Without exercising your vote, you will lose the momentum your investment is making.
Voting is now open. To vote FOR ALL of your management nominees, vote the WHITE Proxy or Voting Instruction Form.