Corporate Stewardship

Paul Myners Obituary and BHP Unification Meetings

The views expressed in this article are those of its author and not necessarily those of ShareSoc. Lord Myners has died at the age of 73. He had a big hand in the rescue of the banks in the financial crisis of 2008 as a Treasury Minister in the Labour Government after becoming the socialists’ favourite capitalist. He was also responsible for the Myners Report into institutional investment which had some influence on corporate governance and institutional stewardship in the UK. I met ...
Post Date: January 21, 2022 Read more

FCA AGM questions – Response to ShareSoc question on financial education

Asking a question at an AGM is often a good way to get access to the Board and force them to engage on a key issue.  This approach worked well with the FCA, where I submitted three questions and one of which, on financial education, was answered in the live part of the meeting. Page 18 of the written record of the meeting records that I asked FCA Chair Charles Randell: Will the FCA support greater financial education in schools and in the wider world, ...
Post Date: October 19, 2021 Read more

When is a concert party not a concert party?

The views expressed in this article are those of the author, not necessarily those of ShareSoc. Today’s RNS from GHE (Gresham House plc) who own Gresham House Asset Management...
Post Date: October 19, 2021 Read more

Daily Mail, 2 June 2021, Bacanora takeover “offer” by Chinese company Ganfeng

https://www.thisismoney.co.uk/money/markets/article-9641119/Backlash-sale-lithium-Chinese-predator.html  reports that: Cliff Weight, director of shareholders champion ShareSoc, said: 'When foreign joint ventures are listed on the London Stock Exchange, it is very difficult for the rights of minority shareholders to be protected. 'Companies such as Bacanora need to be much more transparent, so it is easier for investors to understand the options and warrants that JV (joint venture) partners have. It looks like the Chinese are buying lithium assets on the cheap.' .
Post Date: June 2, 2021 Read more

Buying, Selling and Voting US shares

by Cliff Weight, Director ShareSoc. The Gamestop upcoming AGM votes have highlighted the differences in the platforms. Some still do not allow you to buy US shares. Notably Interactive and eToro will allow voting of Gamestop shares. I was sent the information below by a journalist, which looks right, but I cannot guarantee it is so. These things often change. I understand that Hargreaves are looking at making voting easier and considering using Broadridge. That would definitely be a great step in the right direction. Platform Access to US ...
Post Date: June 2, 2021 Read more

Investment Trust Discount Reduction – The SEC example

by ShareSoc Director Cliff Weight. These are my views and not necessarily those of ShareSoc. Readers may recall my blog in Oct 2020 about investment trusts discounts and what to do about them https://www.sharesoc.org/blog/collective-investments/investment-trust-discounts-what-to-do-about-them-and-sec-example/ On Friday 28 May 2021,  SEC announced their new plan to help reduce their discount, https://www.londonstockexchange.com/news-article/SEC/contingent-tender-offers/14995537 : 2022 Contingent Tender The Board has determined to put in place a contingent tender offer in 2022, should the ordinary shares trade at a wider than average discount of 8 per cent. over the ...
Post Date: May 31, 2021 Read more

Sunday Telegraph, 30 May, Leonardo Governance Concerns

https://www.telegraph.co.uk/business/2021/05/30/minnow-activist-going-battle-defence-giant-leonardo/ quotes ShareSoc saying a CEO in the UK would step aside until the investigation concluded.
Post Date: May 31, 2021 Read more

Mail, 14 March 2021, SUPERMAN and #sharesocuk Support Shareholder Rights.

It is good news that The Mail on Sunday MailOnline is supporting shareholders and shareholders rights. I get quoted.... Cliff Weight, director of investor campaign group ShareSoc, says wealth platforms make it so difficult for customers to engage that they are 'disenfranchising individual shareholders'. He says: 'Most platforms don't even pass on information and if you want to vote the method offered is practically prehistoric. As a result they're throwing away millions of shareholder votes.' Weight believes platform Interactive Investor is better than most. Eight per cent ...
Post Date: March 14, 2021 Read more

Do Spivvy PE Funds IPO Their Investments at Inflated Prices? – and HM Treasury Consultation UK Listings Review

The AA 86% share price decline, coming on top of the Saga and Aston Martin makes me wonder if PE firms and others are exploiting those retail investors willing to buy into a fashionable story. I have to admit to losing money on Saga, whose share price is down 90% from its 2016 high. My mother-in-law was a huge fan of Saga and she gave me a present of Saga membership when I was 50, so when they were floated, I and ...
Post Date: November 24, 2020 Read more

Chrysalis – Vote NO at 26 November General Meeting

Shareholders are excluded from this GM and there is no pre-meeting webinar to discuss these highly contentious proposals to wind up the VCT and distribute any monies raised (less administration fees, including payments to the failing fund manager and some directors). Several members of the ShareSoc VCT Investor Group (including Tim Grattan, Mark Lauber, Roger Lawson and myself) met on 10 Nov to discuss Chrysalis' plans. Our conclusion was that shareholders should vote against these proposals for the following reasons: Chrysalis is ...
Post Date: November 11, 2020 Read more
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