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.


Hiscox (HSX) AGM Report 2012 – One of the worst

After attending the Judges Scientific Annual General Meeting yesterday (a useful meeting if sparsely attended), I visited the AGM of Hiscox in their offices in the City of London. Technically that statement is not quite correct because although I was there, the actual AGM was held in Bermuda. Hiscox moved their company domicile to Bermuda a few years ago, ostensibly for tax reasons bearing in mind that they have substantial operations there. One resulting peculiarity of this was that most shareholders now ...

Globo (GBO) AGM Report 2012

There were about a dozen shareholders at the Globo AGM today, held in the offices of Daniel Stewart in London. For background, refer to the lengthy profile of Globo in the April 2012 ShareSoc Informer Newsletter – see www.sharesoc.org/ShareSoc_News15.pdf . The company issued an RNS announcement before the AGM giving a “trading update”. It was stated therein that more than 60% of Group revenues are now from outside Greece – mainly from the mobile products (CitronGo! and Go!Social”). They reported 21% growth in active subscribers during ...

Foresight VCT (FTV) AGM Report 2012

Foresight VCT is a Venture Capital Trust which I have been holding for many years – locked in effectively by having claimed capital gains roll-over relief on my initial investment (no longer available to new investors in VCTs unfortunately – perhaps that is a good thing because if you sell the shares you get the relief rolled back out and end up with a large tax bill!). I attended the AGM on the 23rd May 2012. This is quite a brief report. ...

Faroe Petroleum (FPM) AGM Report 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 ...

PV Crystalox Solar PLC (PVCS) AGM Report 2012

PV Crystalox Solar is a supplier to the world’s photovoltaic companies, producing multicrystalline silicon wafers for use in solar electricity systems with over 20 years manufacturing experience. This year’s figures are indicative of the industry as a whole - a small profit of €4.1m before exceptional items but after write-downs and provisions the company shows a EBIT loss of €67.5m (2010 profit of €33.3m). I attended the Annual General Meeting of the company today (24th May) in London with 15 or so ...

CHURCHILL CHINA (CHH) AGM Report 2012

This British manufacturer held its annual meeting as usual in Stoke-on-Trent on 16th May. The year’s figures are quite good, with an increase in profits from £2.3 million to £2.7 million on a turnover reduced from £43.7 m to 42.3 m. The reduced turnover reflects their reduction in domestic business, unprofitable as third world product is bought direct by large retailers. The dividend has been held at 14 pence for, I think, the fourth year running, although the financial director gave ...

Aminex (AEX) AGM Report 2012

Introduction I attended Aminex’s AGM on 16th May. It was held in central London at the convenient time of 11am. Around 15 shareholders attended, including djpreston, representing Aminex’s largest shareholder, European Wealth Management (formerly Aventus Capital), as well as various other familiar faces. Brian Hall chaired the meeting, beginning with formal business, followed by a presentation from new CEO Stuard Detmar (formerly, highly successful CEO of Sibir Energy, which he ultimately sold to Gazprom to the considerable benefit of shareholders). He offered apologies for absence from Derek Tughan, ...

Premier Oil (PMO) AGM Report 2012

Introduction The AGM was held at the shareholder friendly time & venue of 11am at the IoD in Pall Mall. It was well attended by ITRO 70 shareholders, and was a lively and productive meeting (with refreshments afterwards for those able to stay). Premier’s 2011 Annual Report (AR) can be found here: http://www.premier-oil.com/premieroil/uploads/reports/reports/PremierOil_AR2011.pdf Pre-Meeting Firstly , I spoke to CEO Simon Lockett (SL) about the deal with Encore’s team, via the vehicle “EnCounter”, that was announced in yesterday’s IMS. The deal is that Premier will share its substantial North ...

Kentz (KENZ) AGM Report 2012

So far as I could see, I was the only ordinary shareholder who attended the Annual General Meeting at Kentz Corporation Ltd today (it’s not a Plc because it is registered in Jersey even though it is now a FTSE-250 company – this is for tax reasons according to one of the directors). I am a fairly new shareholder in this company which claims to be a “specialist solutions provider, primarily to the oil and gas services sector” according to the Annual ...

Kings Arms Yard VCT PLC (KAY) AGM Report 2012

Kings Arms Yard is a Venture Capital Trust that was formed on the 30 September 2011 after a merger with Kings Arm Yard VCT 2 PLC. Looking at Kings Arms Yard (KAY) alone over the last few years before and then discounting the merger things have not gone well, going from a NAV of 41.6 in 2007 to 16.7 at end 2011 with the shares trading at 45% discount to this. I attended the Annual General Meeting of the company on the ...