FINAL OBSERVATIONS The following facts perhaps made this an unusual market abuse case: Š there was no dispute that Mr Hannam was acting in the interests of Heritage in sending the September and October email; Š Mr Hannam’s integrity and honesty were not doubted; Š Mr Hannam did not make any personal gain as a result of the alleged disclosures (though this is not a requisite element of the offence); Š there was no evidence that anyone dealt in shares or other financial instruments on the basis of the September Email or the October Email (again this is not a requisite element of the offence); Š it is not suggested that it was intended, or even contemplated, that there would be any dealing on the back of the provision of those emails, or that any inappropriate conduct whatsoever was intended to ensue from the sending of them; and Š Mr Hannam’s activities in blowing the whistle to SOCA demonstrated that Mr Hannam was willing to and did pursue his client’s commercial interests as far as he was properly able to, but he was not willing to broker a deal at any cost, and certainly not where it involved any contravention of the law by anyone at all.Nevertheless it is an important reminder and indeed a useful clarification of the complex market abuse regime. The practical outcome of this decision is relatively simple: take great care and act with caution when selectively disclosing any information which could be inside information and ensure that appropriate confidentiality restrictions are in place when doing so.
San Leon Energy PLC Settlement with Avobone RNS Number : 7830D San Leon Energy PLC 28 April 2017
28 April 2017
San Leon Energy plc
("San Leon" or the "Company")
Settlement with Avobone
Further to the announcement on 08 November 2016, San Leon announces that, under the terms of the Avobone settlement, a period of two weeks following a payment date is provided for San Leon to complete this payment. San Leon has agreed with Avobone that payment will be made during this period. No other terms of the agreement have been amended.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Directors' Responsibility Statement
The Directors of San Leon accept responsibility for the information contained in this announcement. To the best of their knowledge and belief (having taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
I read here that Ian Hannam, of Hannam & Partners (Advisory) was LLP was Global Co-Head of UK Capital Markets at JP Morgan. Must be well qualified to have held such a responsible position before starting his own business.
'remains supportive of SLE management team' do they have a choice?and before you get my post removed again ,might I add that you've been calling this a quid on numerous occasions in the past not to mention referring to posters as 'liars and scumbags'when they don't fit your agenda.
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