Texas in Shares Ploy

Mail on Sunday › July 10, 2007

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Summary

AIM-listed Texas Oil Gas has denied claims that it faces a cash crisis after it scrapped all boardroom salaries and is instead paying its executives in shares.

The group, headed by Texan Mike Chandler, announced last week that it would issue shares to meet the monthly salaries of its five board members rather than pay cash.

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Extract

Texas in Shares Ploy

Chandler, who personally and thr...

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