02:49:13 EDT Tue 19 Mar 2024
Enter Symbol
or Name
USA
CA



Crescent Point Energy Corp
Symbol CPG
Shares Issued 546,471,635
Close 2018-04-23 C$ 11.21
Market Cap C$ 6,125,947,028
Recent Sedar Documents

FP says Cation's case for Crescent Point "compelling"

2018-04-24 07:57 ET - In the News

The Financial Post reports in its Tuesday, April 24, edition that Institutional Shareholder Services says shareholders should support just two of the four nominees for Crescent Point Energy that were advanced by dissident shareholder Cation Capital. The Post's Barry Critchley writes that ISS recommended shareholders withhold their votes for Cation's other nominees, two investment industry executives who between them own about twice as much stock as the non-executive board nominees advanced by the company. Skin in the game apparently does not rank highly with ISS. Those recommendations were made after ISS said the dissident "has made a reasonably compelling case for some change to the incumbent board to facilitate improvements to capital allocation decisions, to enhance profitability and to ensure appropriate alignment of executive compensation." The battle at Crescent Point comes as the company's share price has underperformed its peers. Since Jan. 1 2013, Crescent Point's share price is down by almost 80 per cent. ISS's split recommendation seems unusual given that its policy does not require "a detailed plan" when dissidents seek a minority of the board seats.

© 2024 Canjex Publishing Ltd. All rights reserved.