San Leon large shareholders likely to reject $30m buyback

A number of large investors in San Leon, the Irish oil and gas explorer, are unlikely to take part in the company’s plans to hand back $30 million to shareholders.

San Leon, whose main asset is a lucrative stake in an oil and gas field in Nigeria, is returning the cash by way of a tender, which means investors will have to sell some of their shares. The company is offering to buy ...