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Corporate Governance

Corporate Governance News

This section on Corporate Governance provides investors with the latest topical news plus some informal comments and insights from ShareSoc’s directors and other contributors.

RTC Group – A Case Study in Shareholder Activism

RTC faces two shareholder resolutions at its AGM on 27th May.  Key Takeaways for Investors:  The Resolutions (10 and 11): to appointment two independent NEDs to provide oversight and separate the CEO/Chair roles.  The Financials: RTC is debt-free with a £3.9m cash pile, yet trades at a significant P/E discount to its peers.  The Activist Group: led by David Stredder (acting in a personal capacity, but he is also a director of ShareSoc), representing 24% of the register.  The Goal: to unlock an estimated 50% valuation gap through better governance and cost control.  The AGM will be held at The Derby Conference Centre, DE24 8UX on 27 May at ...
Post Date: April 24, 2026 Read more

LeaderL&G AGM Directors not afraid of shareholders

    Legal & General’s directors are a beacon of hope and hopefully a bellwether for others. L&G is facilitating shareholder engagement in person and on line. This is...
Post Date: April 17, 2026 Read more

Laggard Aviva AGM – Companies should engage positively with shareholders!

Don’t hide in York! Don’t use hybrid AGMs to hide from difficult questions.  The announcement that Aviva plc will hold its 2026 Annual General Meeting at its regional office in York (Wellington Row) on 6 May is, on the surface, framed as an act...
Post Date: April 8, 2026 Read more

Laggard Socially Useful Frenkel Topping (FEN): Another Opportunistic Takeover and Delisting

Another week, another blatant example of the chronic undervaluation of UK small-cap companies, leading to a lowball takeover, that forces long-term individual shareholders out at a lowball valuation.  The AIM market, it seems, is becoming a hunting ground for opportunistic private equity firms to snatch up good businesses on the cheap.  I’ve written about this pattern before with Gusbourne, Dewhurst, and the particularly egregious case of Anexo. The latest name to add to this sorry list is Frenkel Topping (AIM: FEN). I think this one is particularly cynical. Many ShareSoc members will ...
Post Date: November 6, 2025 Read more

2026 FRC Stewardship Code – A significant improvement

The UK Stewardship code, which sets out the core principles of effective stewardship and transparency for asset owners and asset managers, has just had a major overhaul. The revisions follow on from a consultation in early 2026, to which ShareSoc responded The 2026 Code, which takes effect in January 2026, introduces three key changes: First, the purpose of stewardship has been clarified. The new definition is simply: "The responsible allocation, management and oversight of capital to create long-term sustainable value for clients and beneficiaries."   Reference to delivering benefits for the wider economy, environment, and society has ...
Post Date: November 6, 2025 Read more

A Regulatory Catastrophe: The FCA and the Woodford Fund Debacle

24 August 2025  The aftershocks of the collapse of the Woodford Equity Income Fund (WEIF), once a titan of the UK's retail investment scene, continue to reverberate through the financial landscape.   Six years on from the fund’s ignominious suspension, the recent levying of a £46 million fine on Neil Woodford and his firm by the Financial Conduct Authority (FCA) has done little to quell the simmering anger of hundreds of thousands of investors who saw their savings decimated.   This protracted scandal is a damning indictment ...
Post Date: August 27, 2025 Read more

Laggard Dewhurst: Another Delisting on the Cheap?

Following Gusbourne and Anexo, here is another example of exploitation of minority shareholders by controlling shareholders through delisting.   The share price of the ordinary and A shares shows the dangers of dual class structures and the divergence of their share prices, as governance issues impact differently on the classes:               Source: Stockopedia  Summary of Dewhurst's Delisting and Impact on Minority Shareholders   Dewhurst Group PLC, a global manufacturer and supplier of components for the lift, transport, and keypad industries, announced its intention to delist from AIM and ...
Post Date: August 19, 2025 Read more

Anexo – another delisting on the cheap?

Anexo Group: Analysis of the 60p Bid and Investor Reaction  Following the 22nd July 2025 announcement of a takeover offer for Anexo Group plc, this blog provides an analysis...
Post Date: July 24, 2025 Read more

Laggard Urgent appeal for sponsorship from the Flybe Shareholder Group

Flybe shareholders have waited long enough – please help us finally uncover the truth This solicitation is published by ShareSoc on behalf of the Flybe Shareholder Group and publication thereof does not represent an endorsement of the proposed action. For further information readers can contact the action group via their CrowdJustice page.  In early 2019, upbeat statements by Flybe’s leadership were followed by a dramatic collapse in the value of its shares, wiping out investors and prompting urgent questions which remain unanswered.   Hosking ...
Post Date: April 23, 2025 Read more

Laggard GUSBOURNE Case Study

Sparkling Product, Sour Investment   Gusbourne PLC (GUS), an AIM-listed producer of English sparkling wine, is a case study in how minority shareholders in small-cap companies can be severely disadvantaged. While the product itself may garner acclaim, the company's recent trajectory has left a bitter taste for many individual investors. Lord Ashcroft, Gusbourne's majority shareholder and primary debt holder, is moving to take the company private, leaving smaller shareholders with severely limited and unpalatable options. Gusbourne Share Price Performance A Precipitous Decline in Value The timeline of ...
Post Date: March 18, 2025 Read more

Abolish Stamp Duty on Quoted Shares

This article reflects the opinions of its author and not necessarily those of ShareSoc. Increased cost of capital means tax has negative impact on UK growth Is the UK stock market going to zero? Less than 8% of UK individuals own shares, compared to 40% in Sweden and 60% in USA[1]. This is evidence of the country’s failure to educate, and its failure to create a positive domestic investing climate.   Successive Governments have rowed back from the “Tell Sid” privatisation days where huge advertising budgets ...
Post Date: December 18, 2024 Read more

The Future of Smaller Company Capital Markets in the UK

This article reflects the opinions of its author and not necessarily those of ShareSoc. New Financial Report Launched On 17th October, I attended the launch of New Financial’s excellent report, which was held at the London Stock Exchange. I recommend reading the detailed version (c 35 pages), which I regard as required reading for all serious investors. Full report Summary of the report My key takeaways: Swedes are 5 times as likely to invest in shares than Brits. (Around 40% of Swedish adults have a simple and ...
Post Date: November 1, 2024 Read more

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