White Card Has Questions Too

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Investor Group Issues Questions To The Trustees Of Texas Pacific Land Trust

White card appears to have pulled no punches here.

If I had to pick two, these are the questions I find most relevant to the subject of the Trustees acting as proper stewards of the trust.

Why did you threaten us with blocking every proposal Mr. Oliver might bring as trustee if we didn’t settle with you?  How is such a statement consistent with your role as fiduciaries?

Why have you almost quit retiring shares? This has been a key component and tax efficient way to create shareholder value for over 130 years.

 

 

6 thoughts on “White Card Has Questions Too”

  1. Nice to see the White card team come out both quickly and with a strong response.

    Great positioning move to one-up the general and his three year term limit by saying Oliver would resign adter a year and run for re-election if the existing trustees did the same.

    Am pretty sure nobody is going to answer any of these questions for either the White or Blue teams…..the real purpose is to discredit and create doubt.

    Agree there are doubts with Oliver, but nothing like the Texas-sized doubts I have with the agency problems, lack of insider ownership, changes in business strategy and existing conflicts with the current trustees and executives.

    I also can’t see the current trustees working with Oliver. Its been too bitter and divisive a scorched earth campaign. The margin of by how much Oliver wins will set the tone for how quickly the current trustees are unemployed.

    Liked by 2 people

  2. I think that one thing that’s overlooked is that this isn’t a Board of Directors, they are Trustees and as such, should have a big insight into what the assets are and how they fit into the market. Board governance is a minute role in the big picture as long as there’s transparency and the shareholders are involved in deals to the maximum allowed by the trust documents. Oliver hands down on this basis also,

    Liked by 1 person

  3. Please confirm that shareholders only need to vote white once, irrespective of the number of blue or white proxy voting requests received via post or e-mail.

    Liked by 1 person

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