Carnarvon Energy Limited (AU:CVN) has released an update.
Carnarvon Energy Limited has implemented a new, cost-effective strategy, including a 20% cut in the CEO’s fixed remuneration and the introduction of new performance rights aimed at aligning management incentives with shareholder interests. The company has also continued to reduce its corporate and administrative costs while its cash holdings generate significant interest income, offsetting ongoing expenses. Additionally, there has been a change in the Joint Company Secretary position, with Gavan Sproule’s resignation.
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