Boardroom coup shakes UK shale player Dart Energy

Shareholders in UK shale developer Dart Energy (DTE.AX) backed a boardoom coup this week, voting out the chairman and his allies despite his warning that the move was an attempt to acquire the company on the cheap. The move comes amid intense investor scrutiny of Britain's shale oil and gas drilling scene. Britain is seen as a European test bed for the controversial extraction practice of hydraulic fracturing, or fracking. The ousting of chairman Nicholas Davies and his allies also comes while Australian-listed Dart, one of a handful of bets on a successful UK shale industry, aims to close a cooperation deal with GDF-Suez (GSZ.PA) under which the French utility would provide cash and funding.



via Business News - Yahoo Finance http://finance.yahoo.com/news/boardroom-coup-shakes-uk-shale-182044173.html