ShareSoc Blog
The ShareSoc blog provides news and informal commentary from directors, members and other contributors. Entries reflect the personal views of the authors, which do not necessarily reflect ShareSoc’s formal position. Contributors may hold shares in the companies mentioned. Nothing in this blog should be viewed as financial advice. You may submit comments on blog posts, but ShareSoc reserves the right to remove or edit inappropriate or defamatory submissions.
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.
If you would like to be notified about new posts to our blog you can opt-in to our Weekly Wrap-Up Email service. If you are a member of ShareSoc select the “Weekly Wrap-Up Email” option here. If you are not a member select the “Information and Education Services” option here.
On 11th July, the London Stock Exchange published a discussion paper (AIM Notice 46) with suggestions for modifications to the AIM rules and handbooks.
We are pleased that the LSE has responded to our call for an improvement in standards on the AIM market, as set out in our AIM Campaign and have in turn responded to the discussion paper. Our full response (12 pages) goes into considerable detail and can be read by clicking here. Prior to submitting the response ShareSoc Directors ...
On 7th April, Hunting announced the retirement of CEO Dennis Proctor: https://www.investegate.co.uk/hunting-plc--htg-/rns/retirement-of-dennis-proctor-as-chief-executive/201704070700088531B/
This follows a very difficult period for the company and its shareholders, as it suffers from sharp cutbacks in CAPEX by the oil & gas industry.
I was shocked to read this today: https://www.investegate.co.uk/hunting-plc--htg-/rns/directorate-change-and-remuneration-disclosure/201709010700054964P/
A payment of US$1,688,350 will shortly be made to Mr Proctor which includes US$785,600 related to his service contract obligations with the balance reflecting a settlement in connection with the cessation of employment.
(in addition to which Proctor retains ...
In a speech made in 2016, Theresa May said:
...And I want to see changes in the way that big business is governed. The people who run big businesses are supposed to be accountable to outsiders, to non-executive directors, who are supposed to ask the difficult questions, think about the long-term and defend the interests of shareholders. In practice, they are drawn from the same, narrow social and professional circles as the executive team and – as we have seen time and ...
Press Release 97 - Joint Press Release from UKSA and ShareSoc
Bizarre move to publish register of pay offenders managed by non-independent industry fund manager body the Investment Association
Positive steps re Stakeholders via FRC consultation on S172 reporting
Retail shareholders have been ignored again.
The government's long awaited package of reforms on corporate governance was published this morning. The main components of the reforms had already been widely 'leaked' to the media. This morning's publication confirms that the proposals fall well short ...
A second Broker that has been fined by the Securities and Exchange Commission for years of committing ADR Securities Violations.
This is yet another example of the unacceptable behaviour and bad culture that has pervaded far too many financial services organisations (and arguably still does). In this case Banca IMI Securities Corp issued ADRs even though it did not own the underlying shares. This made it possible for such ADRs to be used for inappropriate short selling or inappropriate profiting around dividend ...
Today the CEO, Cats, has left Telit.
Trust between shareholders and the company is fundamental. Cats lied to the company and the company failed to disclose relevant information to its shareholders.
Cats was paid $3.37 million in 2016 made up of $1.63m salary and bonus of $1.74m. ShareSoc remuneration guidelines suggest £300k to £500k as a guideline for a company of this size c £250 million turnover. Cats owned 16 million shares and also has share options. So, such a large pay package ...
RBS announced excellent results today (4/8/17) and their share price soared 4% to £2.67 in early trading. For detailed commentary see http://www.telegraph.co.uk/business/2017/08/04/rbs-posts-rare-half-year-profit-eyes-amsterdam-move-staff/ . Things are looking better. The RBS...
The debate over the proposed listing of a small proportion (5%) of Saudi Aramco on the LSE continues apace. The recent flurry of news on this topic highlights the...
I am looking forward to the RBS Shareholder Event on Monday 31 July in London. RBS had dropped regular shareholder briefings, but, following our shareholder committee campaign, have now reinstated...
A university academic has just joined the VCT Investors Group and he emailed me with this interesting story and commentary, which other readers might find of interest…. As you...
