Reported Earnings • May 06
First quarter 2026 earnings released: CA$0.58 loss per share (vs CA$0.23 profit in 1Q 2025) First quarter 2026 results: CA$0.58 loss per share (down from CA$0.23 profit in 1Q 2025). Revenue: CA$48.4m (down 73% from 1Q 2025). Net loss: CA$73.0m (down CA$89.2m from profit in 1Q 2025). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • May 06
New major risk - Revenue and earnings growth Earnings have declined by 43% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (79% increase in shares outstanding). Duyuru • Apr 16
Greenfire Resources Ltd. to Report Q1, 2026 Results on May 05, 2026 Greenfire Resources Ltd. announced that they will report Q1, 2026 results on May 05, 2026 Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$6.92, the stock trades at a trailing P/E ratio of 25.1x. Average forward P/E is 14x in the Oil and Gas industry in the US. Total loss to shareholders of 33% over the past three years. Duyuru • Mar 16
Greenfire Resources Ltd., Annual General Meeting, May 07, 2026 Greenfire Resources Ltd., Annual General Meeting, May 07, 2026. New Risk • Mar 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.1% Last year net profit margin: 15% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (81% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (8.1% net profit margin). Reported Earnings • Mar 15
Full year 2025 earnings released: EPS: CA$0.66 (vs CA$1.76 in FY 2024) Full year 2025 results: EPS: CA$0.66 (down from CA$1.76 in FY 2024). Revenue: CA$584.4m (down 26% from FY 2024). Net income: CA$47.5m (down 61% from FY 2024). Profit margin: 8.1% (down from 15% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Duyuru • Jan 22
Greenfire Resources Ltd. to Report Q4, 2025 Results on Mar 12, 2026 Greenfire Resources Ltd. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 12, 2026 Recent Insider Transactions • Jan 08
President recently bought US$188k worth of stock On the 6th of January, Colin Germaniuk bought around 40k shares on-market at roughly US$4.71 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$272k. Colin has been a buyer over the last 12 months, purchasing a net total of US$1.2m worth in shares. New Risk • Dec 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 81% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (81% increase in shares outstanding). Recent Insider Transactions • Dec 19
President recently bought US$224k worth of stock On the 16th of December, Colin Germaniuk bought around 50k shares on-market at roughly US$4.47 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$272k. Colin has been a buyer over the last 12 months, purchasing a net total of US$794k worth in shares. Duyuru • Dec 17
Greenfire Resources Ltd. has completed a Follow-on Equity Offering in the amount of CAD 299.999996 million. Greenfire Resources Ltd. has completed a Follow-on Equity Offering in the amount of CAD 299.999996 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 55,147,058
Price\Range: CAD 5.44
Discount Per Security: CAD 0.816
Transaction Features: Rights Offering Reported Earnings • Nov 04
Third quarter 2025 earnings released: CA$0.12 loss per share (vs CA$0.85 profit in 3Q 2024) Third quarter 2025 results: CA$0.12 loss per share (down from CA$0.85 profit in 3Q 2024). Revenue: CA$126.8m (down 31% from 3Q 2024). Net loss: CA$8.75m (down 115% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Duyuru • Nov 04
Greenfire Resources Ltd. has filed a Follow-on Equity Offering in the amount of CAD 300 million. Greenfire Resources Ltd. has filed a Follow-on Equity Offering in the amount of CAD 300 million.
Security Name: Common Shares
Security Type: Common Stock
Transaction Features: Rights Offering Duyuru • Oct 16
Greenfire Resources Ltd. to Report Q3, 2025 Results on Nov 03, 2025 Greenfire Resources Ltd. announced that they will report Q3, 2025 results on Nov 03, 2025 Recent Insider Transactions • Oct 13
President recently bought US$272k worth of stock On the 10th of October, Colin Germaniuk bought around 59k shares on-market at roughly US$4.64 per share. This transaction amounted to 80% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Colin has been a buyer over the last 12 months, purchasing a net total of US$546k worth in shares. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$5.01, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 13x in the Oil and Gas industry in the US. Total loss to shareholders of 50% over the past three years. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: CA$0.69 (vs CA$0.45 in 2Q 2024) Second quarter 2025 results: EPS: CA$0.69 (up from CA$0.45 in 2Q 2024). Revenue: CA$176.3m (down 16% from 2Q 2024). Net income: CA$48.7m (up 58% from 2Q 2024). Profit margin: 28% (up from 15% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 7.3% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in the US are expected to grow by 3.5%. Duyuru • Jul 18
Greenfire Resources Ltd. to Report Q2, 2025 Results on Aug 06, 2025 Greenfire Resources Ltd. announced that they will report Q2, 2025 results on Aug 06, 2025 Reported Earnings • May 07
First quarter 2025 earnings released: EPS: CA$0.23 (vs CA$0.68 loss in 1Q 2024) First quarter 2025 results: EPS: CA$0.23 (up from CA$0.68 loss in 1Q 2024). Revenue: CA$182.1m (down 6.5% from 1Q 2024). Net income: CA$16.2m (up CA$63.1m from 1Q 2024). Profit margin: 8.9% (up from net loss in 1Q 2024). The move to profitability was driven by lower expenses. Duyuru • Apr 15
Greenfire Resources Ltd. to Report Q1, 2025 Results on May 06, 2025 Greenfire Resources Ltd. announced that they will report Q1, 2025 results on May 06, 2025 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to US$4.43, the stock trades at a trailing P/E ratio of 3.6x. Average forward P/E is 9x in the Oil and Gas industry in the US. Total loss to shareholders of 56% over the past three years. Reported Earnings • Mar 18
Full year 2024 earnings released: EPS: CA$1.76 (vs CA$2.49 loss in FY 2023) Full year 2024 results: EPS: CA$1.76 (up from CA$2.49 loss in FY 2023). Revenue: CA$763.5m (up 17% from FY 2023). Net income: CA$121.4m (up CA$257.1m from FY 2023). Profit margin: 16% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Duyuru • Feb 12
Greenfire Resources Ltd. to Report Q4, 2024 Results on Mar 17, 2025 Greenfire Resources Ltd. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Mar 17, 2025 Recent Insider Transactions • Jan 19
Insider recently sold US$173k worth of stock On the 15th of January, Kevin Millar sold around 24k shares on-market at roughly US$7.19 per share. This transaction amounted to 8.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$24m more than they bought in the last 12 months. Board Change • Jan 02
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. No experienced directors. No highly experienced directors. Independent Director William Aylesworth is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Dec 25
Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP, Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp. acquired 13.4% stake in Greenfire Resources Ltd. (NYSE:GFR) from M3-Brigade Sponsor III LP and Brigade Capital Management, LP for $73 million. Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP, Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp. acquired 13.4% stake in Greenfire Resources Ltd. (NYSE:GFR) from M3-Brigade Sponsor III LP and Brigade Capital Management, LP for $73 million on December 23, 2024. Brigade will no longer be entitled to a nominee on the Board as a result of the sale by Brigade of all its Greenfire Securities to WEF. Waterous Energy Fund Management Corp. has purchased an aggregate of 9,311,424 common shares.
Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP, Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp. completed the acquisition of 13.4% stake in Greenfire Resources Ltd. (NYSE:GFR) from M3-Brigade Sponsor III LP and Brigade Capital Management, LP on December 23, 2024. Duyuru • Dec 10
Greenfire Resources Ltd., Annual General Meeting, May 06, 2025 Greenfire Resources Ltd., Annual General Meeting, May 06, 2025. Location: calgary, alberta Canada Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: CA$0.85 (vs CA$2.72 loss in 3Q 2023) Third quarter 2024 results: EPS: CA$0.85 (up from CA$2.72 loss in 3Q 2023). Revenue: CA$214.9m (up 40% from 3Q 2023). Net income: CA$58.9m (up CA$197.6m from 3Q 2023). Profit margin: 27% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses. Duyuru • Nov 16
Greenfire Resources Ltd. Provides Production Guidance for the Year 2024 Greenfire Resources Ltd. provided production guidance for the year 2024. For the year, The company anticipates the annual production for 2024 will average approximately 19,500 barrels per day, slightly below guidance range of 20,000 to 21,000 barrels per day for the year. Duyuru • Nov 13
Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp., completed the acquisition of approximately 43.3% stake in Greenfire Resources Ltd. (NYSE:GFR) from Allard Services Limited, Modro Holdings Llc and Annapurna Investments. Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp., agreed to acquire approximately 43.3% stake in Greenfire Resources Ltd. (NYSE:GFR) from Allard Services Limited, Modro Holdings Llc and Annapurna Investments for approximately CAD 330 million on September 16, 2024. A cash consideration valued at CAD 10.93 per share will be paid by the buyers. In connection with completion of the Transaction, each of Julian McIntyre and Venkat Siva have agreed to resign from the board of directors of Greenfire. Completion of the Transaction is subject to customary closing conditions and receipt of certain regulatory approvals.
Waterous Energy Fund Iii (Us) Lp, Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund Iii (International Fi) Lp, funds managed by Waterous Energy Fund Management Corp., completed the acquisition of approximately 43.3% stake in Greenfire Resources Ltd. (NYSE:GFR) from Allard Services Limited, Modro Holdings Llc and Annapurna Investments on November 11, 2024. A cash consideration valued at CAD 8.05 per share will be paid by the buyers. The closing of the Transaction follows the decision by the Alberta Securities Commission issued on November 6, 2024 granting WEF's application to cease trade Greenfire's initial shareholder rights plan, and dismissing Greenfire's cross-application to cease trade the Transaction. Duyuru • Nov 04
Greenfire Resources Ltd. to Report Q3, 2024 Results on Nov 14, 2024 Greenfire Resources Ltd. announced that they will report Q3, 2024 results After-Market on Nov 14, 2024 Duyuru • Sep 19
Greenfire Resources Ltd. Announces Board Changes Greenfire Resources Ltd. (Greenfire or the company) acknowledges the announcement on September 16, 2024 by Waterous Energy Fund Management Corp. (WEF Manager) in its capacity as manager of certain limited partnerships (collectively, WEF), that it has entered into agreements with certain Greenfire shareholders (the Selling Shareholders) to acquire 43.3% of the issued and outstanding common shares (the Common Shares) of the Company (the Proposed Acquisition). The Selling Shareholders include, among others, Allard Services Limited and Annapurna Limited. As referenced in the announcement by WEF, the Proposed Acquisition is intended to be an exempt take-over bid pursuant to the private agreement exemption (the Exemption) as set out in section 4.2 of National Instrument 62-104 - Takeover Bids and Issuer Bids (NI 62-104). The board of directors of Greenfire is currently reviewing the details of the Proposed Acquisition and exercising its fiduciary duties to evaluate the company's options, with support from its financial and legal advisors. Prior to the announcement of the Proposed Acquisitions, Julian McIntyre served as Chair of the Board. Given Mr. McIntyre's involvement in the Proposed Acquisition, the Board has appointed Matthew Perkal to serve as Interim Chair of the Board. In addition, the Board has determined it appropriate to appoint a special committee of independent directors (the Special Committee) to oversee the ongoing strategic alternatives process and to consider the Company's options to protect the interests of the other shareholders of the Corporation and to ensure such shareholders are treated fairly in light of the Proposed Acquisition and any future transaction that may be proposed by WEF or any other interested party. The Special Committee is comprised of independent directors of the company and is chaired by Mr. Perkal. As announced by WEF, both Mr. McIntyre and Mr. Siva have agreed with WEF to resign from the Board upon completion of the Proposed Acquisition. Recent Insider Transactions • Sep 06
Chief Operating Officer recently bought US$74k worth of stock On the 29th of August, Jonathan Kanderka bought around 10k shares on-market at roughly US$7.40 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Jonathan's only on-market trade for the last 12 months. Recent Insider Transactions • Sep 02
Chief Operating Officer recently bought US$74k worth of stock On the 29th of August, Jonathan Kanderka bought around 10k shares on-market at roughly US$7.40 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Jonathan's only on-market trade for the last 12 months. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: CA$0.45 (vs CA$2.72 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.45. Revenue: CA$208.6m (up 24% from 2Q 2023). Net income: CA$30.8m (up 27% from 2Q 2023). Profit margin: 15% (in line with 2Q 2023). Revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 1.8% growth forecast for the Oil and Gas industry in the US. Duyuru • Jul 11
Greenfire Resources Ltd. to Report Q2, 2024 Results on Aug 14, 2024 Greenfire Resources Ltd. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 14, 2024 Recent Insider Transactions • Jun 17
Insider recently sold US$95k worth of stock On the 13th of June, Crystal Park sold around 16k shares on-market at roughly US$5.91 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$26m. Insiders have been net sellers, collectively disposing of US$24m more than they bought in the last 12 months. Recent Insider Transactions • Jun 10
Chief Financial Officer recently bought US$69k worth of stock On the 6th of June, Anton Kraljic bought around 12k shares on-market at roughly US$5.92 per share. This transaction increased Anton's direct individual holding by 2x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$734k. Anton has been a buyer over the last 12 months, purchasing a net total of US$98k worth in shares. New Risk • May 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Earnings have declined by 63% per year over the past 5 years. Shareholders have been substantially diluted in the past year (84% increase in shares outstanding). Minor Risk Significant insider selling over the past 3 months (US$26m sold). Reported Earnings • May 16
First quarter 2024 earnings released: CA$0.68 loss per share (vs CA$0.34 loss in 1Q 2023) First quarter 2024 results: CA$0.68 loss per share (further deteriorated from CA$0.34 loss in 1Q 2023). Revenue: CA$147.1m (down 18% from 1Q 2023). Net loss: CA$46.9m (loss widened 181% from 1Q 2023). Duyuru • May 15
Greenfire Resources Ltd. to Report Q1, 2024 Results on May 15, 2024 Greenfire Resources Ltd. announced that they will report Q1, 2024 results After-Market on May 15, 2024 Recent Insider Transactions • May 01
Independent Director recently sold US$26m worth of stock On the 25th of April, Jonathan Klesch sold around 5m shares on-market at roughly US$5.44 per share. This transaction amounted to 86% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$24m more than they bought in the last 12 months. Duyuru • Apr 20
Greenfire Resources Ltd., Annual General Meeting, May 15, 2024 Greenfire Resources Ltd., Annual General Meeting, May 15, 2024, at 14:00 Mountain Daylight. Location: the offices of Burnet, Duckworth & Palmer LLP, 2400, 525 – 8th Avenue S.W., Calgary Alberta, T2P 1G1 Alberta Canada Agenda: o receive and consider the company’s consolidated financial statements for the year ended December 31, 2023, together with the report of the auditors thereon; to elect six directors of the company; to appoint the auditors the company and authorize our directors to fix their remuneration as such; and to transact such other business as may properly be brought before the meeting or any adjournment thereof. Reported Earnings • Mar 24
Full year 2023 earnings released: CA$2.49 loss per share (vs CA$2.69 profit in FY 2022) Full year 2023 results: CA$2.49 loss per share (down from CA$2.69 profit in FY 2022). Revenue: CA$652.3m (down 31% from FY 2022). Net loss: CA$135.7m (down 203% from profit in FY 2022). Combined production Oil equivalent production: 6.438 MMboe (7.484 MMboe in FY 2022) Duyuru • Mar 20
Greenfire Resources Ltd. to Report Q4, 2023 Results on Mar 20, 2024 Greenfire Resources Ltd. announced that they will report Q4, 2023 results After-Market on Mar 20, 2024 Buy Or Sell Opportunity • Mar 20
Now 33% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to US$5.76. The fair value is estimated to be US$4.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 29
Now 21% overvalued Over the last 90 days, the stock has fallen 16% to US$5.04. The fair value is estimated to be US$4.18, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 53% over the last 3 years. Meanwhile, the company became loss making. New Risk • Dec 14
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Revenue has declined by 14% over the past year. Shareholders have been substantially diluted in the past year (83% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Duyuru • Nov 16
Greenfire Resources Ltd. to Report Q3, 2023 Results on Nov 14, 2023 Greenfire Resources Ltd. announced that they will report Q3, 2023 results After-Market on Nov 14, 2023 Duyuru • Oct 05
Greenfire Resources Ltd. Appoints Tony Kraljic as Chief Financial Officer Greenfire Resources Ltd. appointed Tony Kraljic as chief financial officer. Kraljic has 27 years of experience working in corporate finance, strategy and accounting in the oil and gas industry, including a demonstrated track record of executive leadership and enhancing shareholder value. Most recently, Kraljic served as the chief financial officer of WesternZagros Resources Ltd. Before this, he held a variety of increasingly senior finance and planning positions with Shell Canada, Western Oil Sands and Marathon Oil Canada. Kraljic has a bachelor of commerce degree from the University of British Columbia and is a chartered professional accountant.