AGM Reports

AGM Reports

Our library contains reports on the Annual General Meetings of a large number of listed and quoted companies that our members have attended. This unique resource provides valuable insights for investors in those companies, not available anywhere else.

You will find summaries of our AGM reports on this page. You can also search for reports on a specific company, using our “Research” feature. Only full members of ShareSoc can view the full details of our AGM reports and need to login to do so. If you wish to gain access, click here to become a full member, for less than 90p/week and gain full access to our library of hundreds of AGM reports, as well as other member benefits.

If you are already a full member and are still having any difficulty accessing our reports, please contact the ShareSoc Office.


Kings Arms Yard (KAY) VCT AGM 2015

Yesterday, the 14th May, I attended the Annual General Meeting of Kings Arms Yard VCT in central London. Since Albion was appointed as fund manager 4 years ago, this VCT’s performance has improved since the days of Quester VCT back in the late 1990’s (who made some not so wise investments in the dot.com bubble) and then Spark VCT in 2008 (just in time for the crash). This year though KAY has taken a small step backwards with a reduction in ...

Amec Foster Wheeler (AMFW) AGM Report 2015

The Annual General Meeting of Amec Foster Wheeler took place yesterday at Glazier's Hall near London Bridge. This company was formed relatively recently from the merger of Amec and Foster Wheeler. It is a large engineering and project management business with revenues of £5.5bn and 40,000 employees. A major proportion of its revenue comes from oil/gas facilities projects and it has therefore been under pressure from the fall in oil prices. Prospective p/e for the 2015 year is only 11.4 at ...

HgCapital (HGT) AGM Report 2015

I attended the Annual General Meeting of HgCapital (as they now like to spell it) today (13/5/2015) held at their offices next to City Hall in London. There were about a dozen ordinary shareholders present - the start time of 10.00 am is not ideal for private investors as I told the directors, although tea/coffee and breakfast snacks were provided. Pity I am on a diet. Roger Mountford, the Chairman, commenced by introducing the board. We then went straight into a presentation ...

Rolls‐Royce (RR.) AGM May 2015

Rolls‐Royce (RR.) held their Annual General Meeting at the QEII Conference Centre in London on the 8th May. There were about 300 shareholders present I would guess. I commented very negatively on the preliminary results when they were issued in a blog post which you can read here for some background on the company: https://sharesoc.wordpress.com/2015/02/13/rolls‐royce‐results‐and‐a‐new‐director Subsequently the CEO, John Rishton, announced he was retiring to be succeeded by non‐executive director Warren East, but the former did the talking at this meeting. On the morning of the AGM the ...

GlaxoSmithKline Plc (GSK) AGM 2015

The following report is shorter than usual due to the AGM containing very little of substance, highlighting the difficulty a large FTSE company has in running such an event. On Thursday the 7th of May I attended the Annual General Meeting of GlaxoSmithKline Plc at the QEII Conference Centre, London at 2.30pm. The meeting was attended by about 600 shareholders, less than last year, probably due to the general election being on the same day. On my entry to the building I ...

Rightmove (RMV) AGM Report 2015

This will be a short report on the Rightmove Annual General Meeting today (7/5/2015) as it was a very short meeting - over in about 35 minutes. As last year it was held at 10.00 am at the UBS offices in the City of London - despite the fact that I complained about the time last year. Clearly my complaint fell on deaf ears but I repeated it to several directors later. The attendance of shareholders was minimal as last year, probably ...

Alliance Trust (ATST) AGM Full Report 2015 – Will Dundee cake suffice?

The following blog post was published on the 30th April 2015 which gives a good summary of events at the AGM. What follows afterwards is a more detailed report. Note that for a full explanation of what the dispute was about at Alliance Trust see this note on our web site: http://www.sharesoc.org/ShareSoc_Alliance_Trust_Analysis.pdf and RNS announcements that were issued by both parties during the battle. These are some initial impressions of the Alliance Trust AGM in Dundee. It was not quite as exciting as it might have been ...

Maven Income & Growth VCT 4 Plc (MAV4) AGM 2015

Yesterday I attended the Annual General Meeting of Maven Income & Growth VCT 4 at the Maven offices in Central London. The VCT has steadily been moving away after years of underperformance from investing in AIM companies (the failed strategy of the old fund manager) to investing in private companies. The level of AIM stocks held is now a modest 1.6% of the asset base. Maven VCT4 also merged with Ortus VCT in 2013. The yield based on year end share price ...

Maven Income & Growth VCT 5 Plc (MIG5) AGM 2015

Yesterday I attended the Annual General Meeting of Maven Income & Growth VCT 5 at the Maven offices in London. The VCT has been moving away after years of underperformance from investing in AIM companies (the failed strategy of the old fund manager) to investing in income-producing loan stock (giving rise to a much more cash generative VCT) and private companies. The level of AIM stocks held has reduced from 55% in 2013 to 41% at year end 2014. Approximately 6 investors ...

Elementis (ELM) AGM Report 2015

I attended the Annual General Meeting of Elementis today (22/4/2015) held at their usual venue (The Royal Institution) in London at 11.00. There were about 30 shareholders present. Elementis is a FTSE-250 speciality chemical company – selling surfactants, rheology products to control viscosity/thickness and chrome chemicals. Revenue last year was $790m, up only 2%, but earnings per share increased by 8%. Cash flow was good and the company declared another special dividend which was of course approved by a vote of ...