Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Oisin Fanning and San Leon – gold star heroes of the day on AIM: a win for the Sheriff

By Tom Winnifrith, The Sheriff of AIM

30 June 2014 07:27

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I met up with Oisin Fanning of San Leon Energy (SLE) some weeks ago and though I liked him greatly I told him point blank that he was overpaid and his interests were thus not aligned with those of shareholders. I made a suggestion and to his credit he has taken it onboard 100% as the publication of today’s AGM agenda shows. This is a groundbreaking victory for The Sheriff and a great day for shareholder democracy and empowerment and I’d like to see it rolled out across the AIM Cesspit – a Fanning Rule.

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Comments

Duck and Dive

30 June 2014, 09:04

√ Like
Philip

30 June 2014, 22:48

Oisis Fanning has already done the damage to the share price on this stock. His actions, although welcome to some degree, give little comfort to shareholders sitting on massive losses due to previous generous entitlements taken by those at the top.

I bet different decisions would have been made if Fanning was paid in shares from the very beginning. A bit of a hollow gesture now at the current share price.