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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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All Change at Superdry and Intercede – Perhaps

Readers are probably aware that founder Julian Dunkerton managed to win the votes yesterday (2nd April) at the EGM that he requisitioned at Superdry (SDRY). The votes to appoint him and Peter Williams were won by the narrowest of margins despite proxy advisors such as ISS recommending opposition. My previous comments on events at Superdry are here: https://www.sharesoc.org/blog/company-news/superdry-does-it-need-a-revolution/ . It did not seem clear cut to me how shareholders should vote, but I did suggest there was a need for change. There ...

RBS Shareholder Committee Campaign: Update 15

RBS Shareholder Committee Campaign: Update 15 - Resolution has been accepted and is on the AGM agenda The Shareholders Circular and notice of the AGM was sent out on 18 March to all shareholders on the register, along with a copy of the annual report (only 267 pages this year), headed “Building a simple, safe and more customer-focused bank”. You only get a paper copy of the annual report if you asked for it. Those people who have invested in RBS shares via ...

Learn from experts at the Mello Investment Trust and Funds Conference

Educating investors is one of ShareSoc’s primary objectives. If you have not recently visited the ShareSoc Investor Academy then I recommend you do so. We continue to add to and improve the site. https://www.sharesoc.org/investor-academy/ One of the best ways to learn about investing is to listen to experts and the Mello Investment Trust and Funds Conference on 15th May is an excellent opportunity to do so. Of particular interest may be the sector experts who can highlight the key performance indicators and the ...

FRC Reporting Lab survey of investors views of the topics they should review

Dear Member,  The FRC is doing a survey of investors views of the topics that the Reporting Lab should look at over the next few years. The link to the survey is: https://www.smartsurvey.co.uk/s/labsurvey11/ Please do respond if you can; it should only take about 5  minutes to complete (I just did it and it took me 7 minutes but I wrote lots of comments). The FRC runs an excellent investor engagement programme of which the Reporting Lab forms an important part. The FRC is very ...

The Master Investor Show announces an exciting Main Stage line-up

Advertising Feature The Master Investor Show – the annual conference for private investors, has announced a superb Main Stage line up for the 2019 show. This year’s event will provide the best insights into investing by reviewing current and future socio-economic trends, cutting edge technologies and how best to take advantage of them. Across the four stages, all things from trading, stocks, shares to funds and bonds will be explained by the leading experts within their fields. Now in its 17th year, Master Investor ...

Argo Blockchain and FT Letter

An announcement appeared this morning from Argo Blockchain Plc (ARB). It was well timed as I was going to write something on the hype surrounding blockchain technology soon. ARB has received a requisition to remove two of the directors, and appoint others. The company has been focused on providing a cryptocurrency mining service and floated on AIM at a price of 16p – it’s now just over 3p. But a few weeks ago it gave up the “mining-as-a-service” business to focus ...

RBS Executive Pensions row as Board fails again to listen to its shareholders

Press release 109 - RBS Executive Pensions row as Board fails again to listen to its shareholders RBS has again failed to engage effectively with its shareholders, this time over Executive Pensions. As a result, the company finds itself yet again in the headlines, for the wrong reasons. RBS Shareholders’ concerns about lack of effective engagement are vindicated by yet another escalating row. ShareSoc and UKSA have requisitioned a resolution at the April 25th AGM to establish a Shareholder Committee, with the ...

FCA Consultation on proposals to improve shareholder engagement

In January the FCA issued a consultation paper CP19/7 Financial Conduct Authority Consultation on proposals to improve shareholder engagement. This was a technical consultation on how to implement the EU Shareholder Rights Directive II in relation to its Stewardship aspects. Today 27 March UKSA and ShareSoc made a joint response, on behalf of individual investors. We made a number of points, see below, with further background in an Appendix. We think this is important context to our response to the FCA consultation as ...

Proposed Revision to the UK Stewardship Code 2019

ShareSoc has made a joint response with UKSA  on behalf of individual investors to the consultation from the FRC on the revised Stewardship Code. We believe that the proposed revisions to the Stewardship Code are a sound attempt to make the Code more meaningful and to give it teeth. However, we have concerns that in some areas the Code is seeking to set expectations on which it will be very difficult to deliver and which could ultimately result in the Code becoming ...

RBS AGM Vote Recommendations from ShareSoc

Many members have enquired about how they should vote their RBS shares. Our RBS AGM Vote recommendations are shown below: Resolution 28. For. We have proposed this so clearly we support this resolution. Resolution 2. Remuneration report. Against. Reasons. CEO has pension of 35% salary. HSBC have reduced to 10%, so should Ross McEwan, RBS CEO. There is lots of press about this issue. RBS should listen to what is being said and act. Male CEO has bigger pension allowance than female FD (35% v. ...

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