Gavin Palmer was at the Tory Party Conference and in discussion with Chris Philp, MP, where it emerged that Chris had written three times to RBS asking Sir Howard Davies, RBS Chairman why they were objecting to our shareholder resolution for a Shareholder Committee. Regular readers will be aware that it was Chris who wrote an excellent paper covering Shareholder Committees in September 2016 which received wide publicity. See http://highpaycentre.org/files/HPC_42_WEB_amend_-_Restoring_Responsible_Ownership.pdf
Despite Chris’ best efforts, RBS rebuffed his questions and refused to share their legal reasons with him.
So much for democracy! It is even worse when one realises that RBS is 73% owned by the Government (via UKFI), but seemingly is unaccountable to its shareholders, politicians or the general public.
ShareSoc (and UKSA) are planning to submit another Shareholder Resolution to the 2018 RBS AGM. The Chris Philp story is yet another reason for doing so. We will be writing with more details, probably in November.
RBS Shareholder Committee Campaign Co-Ordinator.