ShareSoc News

RBS AGM Voting Recommendations, Remuneration and Campaign Update

ShareSoc recommend voting FOR the Shareholder Committee Resolution 27 and AGAINST Resolution 2, the Remuneration Report at the RBS AGM, which will be held on 30 May at 2pm in Edinburgh. After two years of hard work, we are delighted to report that the RBS Board agreed to put our shareholder resolution for a Shareholder Committee on the AGM Agenda. The Shareholders Circular contains our item for discussion and resolution for a Shareholder Committee and the Board's Statement in response on pages ...

ShareSoc Demands Investigation in Wake of Beaufort Securities Revelations

As part of our campaign to improve the AIM market,  ShareSoc Director Mark Bentley has today written to the Head of AIM inquiring what actions the AIM regulatory team is taking to investigate whether scams of the type alleged by US authorities have been conducted on the AIM market, which seems highly likely to us, and lies at the root of why we are seeking reform of AIM regulation. See this blog post for details of the allegations. Today's letter can be seen ...

Conviviality

Press Release 103 - Joint Press Release from UKSA and ShareSoc Conviviality Asset managers need to think again why they missed the warning signs. Shares in the wholesaler and distributor are now suspended as it considers the anticipated impact on its funding position of £30m due to HMRC. This business has looked questionable since an abrupt change of strategy several years ago. The facts were there for all to see. Manifest spotted problems. Despite this, shareholders approved the latest annual accounts - ...

RBS Confirms Shareholder Committee Resolution will be put to AGM Vote

Press Release 102 - Joint Press Release from UKSA and ShareSoc RBS Confirms Shareholder Committee Resolution will be put to AGM Vote * RBS has accepted our requisition of a Shareholder Resolution. There will be a debate and vote on the establishment of a shareholder committee at the May 2018 RBS AGM. * Opportunity for RBS to lead UK plc in the first establishment of a formal shareholder committee. Sweden has 20+ years of positive experience with shareholder committees; lessons can be learned from ...

RBS Shareholder Committee: We’ve (almost) won!

Great news from RBS! RBS have agreed to have our resolution put to the AGM. UNFORTUNATELY, they will only agree to this, if the resolution is a SPECIAL Resolution rather than an ordinary one. That means that we will have to resubmit our requisitions for the special resolution. So, if you own RBS shares, please complete the new Special Resolution Requisition form, which you can download from the ShareSoc website, click here. Getting the shareholder resolution on the RBS AGM agenda is a huge ...

BEIS Committee investigates Carillion. ShareSoc and the UK Shareholders Association submit joint response.

The item below is ShareSoc and UKSA's joint response to a request for comment from the BEIS parliamentary select committee on Corporate Governance regarding events at Carillion. Click here to read the PDF version. 5 February 2018 Chris Shaw, Clerk, BEIS Committee on Corporate Governance Dear Chris, Carillion and implications Please note this is a joint response on behalf of UKSA and ShareSoc We understand that the Select Committee, along with the Work and Pensions Committee, is looking at the collapse of Carillion at the moment. So, we are ...

ShareSoc Requests Investigation into the Affairs of Blancco Technology Group

Press Release 101 - ShareSoc Requests Investigation into the Affairs of Blancco Technology Group ShareSoc (the UK Individual Shareholders Society) is requesting the Financial Conduct Authority (FCA) and the Financial Reporting Council (FRC) to investigate certain issues concerning Blancco Technology Group plc (BLTG), an AIM listed software company specialising in data erasure. Shareholders in the company have been financially devastated by the collapse in the share price following the reporting of several accounting issues at the company. As a result the share price ...

RBS Campaign Update 10 – 161 forms submitted, press release issued and huge media coverage

Update 10 29/12/2017 - 161 forms submitted, press release issued and huge media coverage Today I travelled to London to deliver the 161 signed forms to RBS. Yesterday, we issued a press release. Radio 4 reported on it in their Business Briefing at 6.25am. There were lots of press stories. Cliff Weight Delivers Requisitions to RBS We thought the press coverage today was balanced. We have worked well (together with RBS people) in avoiding the negative publicity that occurred earlier in the year. This is ...

Small shareholders in bid to make RBS a better run company

Press Release 100 – RBS in the firing line as ShareSoc renews campaign   RBS Shareholders Requisition Shareholder Resolution for a Shareholder Committee.    Over 100 shareholders in the Royal Bank of Scotland (RBS) have requisitioned a resolution to install a "Shareholder Committee" at the company, which will include shareholder representatives, to improve the corporate governance and shareholder engagement at RBS. RBS will now have to put this proposal to a vote at their Annual General Meeting (AGM) in May 2018. ShareSoc ...

FRC Corporate Governance Consultation and FCA Consultation on Competition

The FRC has launched a consultation on the Corporate Governance Code. https://www.frc.org.uk/consultation-list/2017/consulting-on-a-revised-uk-corporate-governance-co The FCA has launched a Consultation on Competition https://www.fca.org.uk/publication/corporate/our-approach-competition.pdf ShareSoc will most likely be making a joint response with the UK Shareholders’ Association to both of these consultations. You are welcome to send your views to cliff.weight@sharesoc.org . Peter Parry and I will consider them in making our response. You are also welcome to submit your own comments/response directly to the FRC/FCA, but please state that they are your views (you cannot assume that ...