Crown Ocean’s nominees speak out against Bowleven claims

Energy Voice earlier published a joint statement from Crown Ocean’s board nominees, Eli Chahin and Chris Ashworth. The full article can be read here. I’ve published the statement below. After the condescending email I received from Bowleven on the independence issue, I’ve got to admit today’s sabre rattling has been just a little satisfying.

Statement from Chahin and Ashworth:

“As proposed independent directors at the Bowleven general meeting convened for 14 March 2017 we have made no formal statements to date about the general meeting, it being a matter for the shareholders to determine.

“However, we would wish to state that, if appointed, we would as directors be acting in the interests of the company and all its shareholders in accordance with our fiduciary duties.

“Any suggestion made by Bowleven to the contrary would constitute an event in relation to which we would reserve our rights to take further action.”

As I’ve repeatedly warned on this site, the current board’s primary line of defence has been to smear Crown Ocean and Crown Ocean’s nominees to join the board.

When I recently published a piece pointing out that Bowleven’s claims that Chahin and Ashworth were not suitably independent weren’t credible, I got an incredibly snotty email from a representative of the company demanding that I took the article down. I pointed out to this representative that if Bowleven’s board had the evidence it claimed that Chahin and Ashworth were not independent it would have surely reported this matter to the Takeover Panel. The fact that Bowleven’s board appears not to have referred this to the Takeover Panel spoke volumes and so the piece remained live.

I also urged Bowleven to publish the “evidence” it claims it has. There’s been a deafening silence from the company in response.

Make of that what you will.