About
Representation
View all Representation →Consultations- Digitisation Taskforce – Final Report
- FCA Consults on Fund Product Information and Cost Disclosure CP24/30 – ShareSoc Responds
- FRC Consults on UK Stewardship Code – ShareSoc Responds
- FCA Consultation – Modernising Redress
- HMRC Consultation – IHT on Pensions
- ShareSoc Evidence to Lords on FCA Enforcement
- ShareSoc supports FCA proposal for criminal background checks on owners and controllers of financial institutions
- UK ISA: ShareSoc submits consultation response
- FCA Consultation on Enforcement Practice & Transparency
- ShareSoc response to House of Commons Education Select Committee
- UKSA and ShareSoc Submission to Labour Party Review of Financial Services
- FCA Consultation GC23/2 Financial Promotions on Social Media
- VIEW ALL CONSULTATIONS
Education
Events
- Forums
Company
Faroe Petroleum PLC (FPM)
AGM Reports
Faroe Petroleum (FPM) AGM Report 2012
Post Date: May 25, 2012
Faroe Petroleum is a small oil exploration and production company that is listed on AIM (revenue only £80m last year but that was up from £15m). ShareSoc issued a press release on the 2nd May which complained about the proposed “Exceptional Performance Incentive Plan (EPIP)” and other aspects of the remuneration of directors at this company. To quote from the press release: “Faroe Petroleum is a good example of what is wrong with executive remuneration in public companies. Multiple complex incentive ...
ShareSoc News
Faroe Petroleum Responds to ShareSoc’s Concerns
Post Date: May 25, 2012
PRESS RELEASE 26 (25/05/2012)
At yesterday’s AGM, Faroe Petroleum withdrew a resolution authorising large performance incentive payments to its executives. John Bentley, Faroe Chairman said:
“Since the publication of the Notice of Annual General Meeting in April 2012, the Company has been in further dialogue with its larger shareholders. Following those discussions, the Company intends to make a number of changes to the proposed Faroe Petroleum Exceptional Performance Incentive Plan ("EPIP") and consequently Resolution 7 has been withdrawn.”
On 2nd May, ShareSoc issued a ...
ShareSoc Recommends Voting Against the “Exceptional Performance Incentive Plan” at Faroe Petroleum
Post Date: May 2, 2012
PRESS RELEASE 23 (02/05/2012)
ShareSoc (the “UK Individual Shareholders Society”) suggests that shareholders in Faroe Petroleum should vote against the new management incentive scheme. This scheme which is entitled the Exceptional Performance Incentive Plan (EPIP) will permit substantial grants of nil-cost options to senior executives, subject to certain performance conditions.
The details of the performance conditions are complex but the prime requirement for full vesting is total shareholder return of 25% per annum over 3 years. ShareSoc suggests that a performance incentive scheme ...
Become a free Associate ShareSoc member
Enter your email to sign up as a free Associate ShareSoc member and receive our emails. It takes a few seconds — and on the next page you'll have the option to customise your membership.