Infapound, I can fully understand that onlookers find this sparring boring, if not irritating. In my defence, my highlighting of a verifiable fact was dismissively contradicted by Smithy, even though I was using published SLE information. To quote Kipling, I'm sure that you wouldnt like "the truth you've spoken twisted by knaves to set a trap for fools". As I replied to Stephen, the level of remuneration IS an important issue. It led the Sunday Times to write an article in autumn 2014 ridiculing the SLE's management for their remuneration policy....and that publicity cannot be good for shareholders.
Callas Go to an AGM and complain then. We don't get to vote on directors remuneration. This is the AIM and this is an Oilie - it's on castor wheels!! Hope you have a decent and well balanced portfolio??
I think that its an important issue when the Exec Chairman is paid €5.6m in the 5 years to 2014, when viewed against a market capitalisation of just €23m on suspension. If you dont think so, AIM is just the place for you.
And by the way, it's the shareholders' company, not OF's private property.
if your so sure of your findings and are confident in your research and know you are correct... why are you arguing about who's right and who's wrong ? its his company and he can pay himself what he wants... i have noticed there is a different agenda most weeks by different posters....funny old BB this place is lol..... just wait for a news update on our progress.
still think you should call OF himself sunbeam, Im sure you would shed some light on your mistake!
from 2015 egm.
In addition to the above share options, at the AGM of San Leon on 26 September 2014 the shareholders by ordinary resolution authorised the Board of Directors of San Leon to allot Existing Ordinary Shares to Oisin Fanning a Director of the Company in lieu of the payment to him of up to 80 per cent. of his basic salary payable in the year ended 31 December 2015 (the “Relevant Shares”). The number of the Relevant Shares will be determined according to the closing price of such shares on AIM two business days prior to the date of allotment or the nominal value (whichever is higher). The ordinary resolution of the shareholders authorised the Board to allot the Relevant Shares to Mr. Fanning quarterly in arrears beginning on 1 April 2015. No Relevant Shares have been allotted to Mr. Fanning.
and from the 2015 interims.
Cost reduction remains a priority for the Company and its Board. With effect from 1 January 2015, Oisin Fanning, Executive Chairman, has drawn only 20% of his salary in cash with the balance accruing in San Leon shares.
OF states at this presentation his basic package at present is £160k and when sp hits 4.2/5p he gets £182k extra in stock totalling £342k. or £160k pa wage + £182K pa in shares when sp hits £4/£5 a share!. If sp goes back under £4/£5 the shares stop.
So for more clarification ring him! but something tells me you wont!
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