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ShareSoc Blog

This blog gives you the latest topical news plus some informal comments on them from ShareSoc’s directors and other contributors. These are the personal comments of the authors and not necessarily the considered views of ShareSoc. The writers may hold shares in the companies mentioned. You can add your own comments on the blog posts, but note that ShareSoc reserves the right to remove or edit comments where they are inappropriate or defamatory.

There is more news given in the News page of our web site and more analysis of news is provided in our monthly newsletter for members – see the Newsletters page.

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ShareSoc Slams London Stock Exchange over AIM Failures

PRESS RELEASE 76 27/4/2016 At today’s AGM of the LSE Group ShareSoc director, Mark Bentley, accused the Group of failing in its function as operator and regulator of the AIM smaller company market. Representing ShareSoc’s membership, many of whom are experienced investors in AIM quoted companies, Bentley asked: “Why does the LSE not do something about the poor reputation of AIM? This is the result of not just poor performance (or as Claer Barrett said in the FT "20 years of a few winners ...

ShareSoc slams LSE over AIM failures

ShareSoc slams London Stock Exchange over AIM failures - that was the title of a press release which ShareSoc has issued after the LSE Group's AGM which was held today - see https://www.sharesoc.org/pr76lseaim.html ShareSoc Director Mark Bentley spoke at the AGM and suggested that "AIM is full of dubious businesses led by dubious people". He asked them to do something about it. Perhaps the merger with the German Deutsche Boerse will mean the introduction of a more disciplined approach to some of ...

Atlantis Japan Growth Fund – Requisition to Restructure or Liquidate

Atlantis Japan Growth Fund (AJG) is a closed end investment company (i.e. like an investment trust) focussed on small Japanese companies. It has had disappointing performance in recent years, is trading on a significant discount to asset value, has low liquidity, and is now relatively small in size. Indeed the current market capitalisation is only £54 million which many people would consider unviable, as a result it has relatively high costs (2.47% On-Going Charge according to the AIC). The fund has ...

Financial Repression Destroys Savings

The following press release has been issued by Better Finance to its members (of which ShareSoc is one). Readers may wish to take up this matter with their Member of Parliament as the UK has certainly been following the same economic strategy as the rest of Europe as regards to interest rates and financial repression so was to relieve the Government of some of its debt. PRESS RELEASE - FINANCIAL REPRESSION DESTROYS SAVINGS: EUROPEAN SAVERS BAILED IN BY ECB 22 April 2016 - ...

Sprue Aegis (SPRP) Business Review

The directors of Sprue Aegis have agreed to answer ShareSoc Members questions on Wednesday the 27th April following the recent trading statement (profit warning) and after the results announcement on the previous day. This event will commence at 6.00 pm and last approximately one hour. It will be at the office of Tavistock Communications at: 131 Finsbury Pavement, London, EC2A 1NT. If you plan to attend please tell us by using the ShareSoc Contact page here: Contact - mention “Sprue Aegis ...

Anglo American and Pay

Following ShareSoc's recommendation to vote against the Remuneration Report at Anglo American, yesterday the company received 42% of shareholders votes AGAINST it. Other advisory bodies also recommended opposition and this is a significant snub to the board which they will have to do something about. The ShareSoc press release we issued is here: https://www.sharesoc.org/pr74angloamercian.html The Investment Association which represents institutional investors has published a report which suggests that pay in public companies is "not fit for purpose" and needs reform. This has ...

Lakehouse, Stock Spirits and Sprue Aegis

I commented on the affairs of Lakehouse and Stock Spirits in the last ShareSoc newsletter. Both companies had been attacked by unhappy shareholders who had submitted requisitions to change certain directors, a process that seems to be becoming more common of late. Both situations have now to been resolved to a great extent. At Lakehouse the Chairman Chris Geoghegan is departing forthwith, with the three new directors proposed by the requistioners being appointed to the board as non-executive directors including founder Steve ...

Vote Against Remuneration at RELX

ShareSoc is advising its Members to vote against the Remuneration Report resolution at the RELX Annual General Meeting on 21 April 2016. ShareSoc consider the pay of the CEO...

Persimmon AGM and Remuneration

On the same day as BP held its Annual General Meeting (AGM), and got snubbed by shareholders over its Remuneration Report, house building company Persimmon held its AGM in York. One might have expected that Persimmon would also have been attacked for its remuneration scheme, for the reasons explained below, but in reality it passed with only 9% of votes against. Indeed there was more opposition to the election of a new non-executive director, Nigel Mills, who only passed with 53% ...

ShareSoc Advises Investors to Vote Against Anglo American Remuneration Report

PRESS RELEASE 74 14/4/2016 ShareSoc (the UK Individual Shareholders Society) is advising its Members to vote against the Remuneration Report resolution at the forthcoming Annual General Meeting of Anglo American. We consider the pay of the CEO to be too high, and particularly so in a year when the company suffered a loss of $5.6 billion in 2015 and dividends were suspended. The market cap of Anglo has shrunk from £50 billion in 2008 to £8 billion today. However, CEO remuneration has ...
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