PRESS RELEASE 11 (17/09/2011)
There are major problems in attending or voting at General Meetings of companies if your shares are held in a nominee account. One of ShareSoc’s key manifesto aims is to reform the disenfranchisement of most nominee shareholders, and ensure that they receive full information about the companies they own, as other shareholders do.
We have created an E-Petition under the new arrangements established by the Government to address this. The Government has made a commitment that any petition that receives ...
PRESS RELEASE 10 (02/09/2011)
Further to our previous press release on the subject of Healthcare Locums, the UK Individual Shareholder Society (ShareSoc) has concluded that if the proposals to recapitalize the company are voted down, then it is likely that alternative proposals will be put forward that would be more advantageous to most shareholders.
We previously criticised the proposals recommended to shareholders by the board because of the very substantial dilution of shareholders. Minority shareholders (such as the individual shareholders we represent) may ...
PRESS RELEASE 07 (25/07/2011)
The UK Individual Shareholder Society (ShareSoc) has published a guide on “How to Form and Run a Shareholder Action Group”. This is aimed at private investors who occasionally feel disgruntled about the actions of companies and their directors, but do not know how to complain. ShareSoc believes that shareholder activism should be encouraged. Improving the “engagement” of shareholders with the companies in which they own a stake has been encouraged by many commentators and activism is one form of ...
ShareSoc submitted a reponse to the Sharman Inquiry on "going concern and liquidity risks".
It is in this document: Sharman_Response
ShareSoc responded to the Independent Commision on Banking with this submission in response to their Interim Report: ICB_Consultation_Response.
In summary we agree with much of the report but are not in favour of a UK "retail ring-fence".
PRESS RELEASE 06 (16/06/2011)
The UK Individual Shareholder Society (ShareSoc) has launched a new “Manifesto” which is a clear statement of what it will be promoting in future. It is aimed at tackling many of the faults in the existing operation and regulation of UK stock markets and businesses. For example it is generally recognised that the “engagement” of shareholders with the companies they own is inadequate. This has led to errant directors who seem sometimes to run companies in their own ...
PRESS RELEASE 05 (05/05/2011)
The UK Individual Shareholder Society (ShareSoc) is pleased to announce the appointment of Mark Bentley as a Director of the Society. Mark has extensive experience of stock market investment and will be initially assisting the board of ShareSoc on a project to improve the available information about AIM companies, their Nomads and Directors and the general legal and regulatory environment for listed companies.
A brief biography of Mr Bentley is as follows:
Mark Bentley, M.A. has been a full-time stock ...
PRESS RELEASE 04 (21/04/2011)
The UK Individual Shareholder Society (ShareSoc) has considered the issues raised by Laxey Partners in relation to Alliance Trust and the Resolutions proposed by them at the forthcoming AGM. We agree with the proposals by Laxey for the introduction of a Discount Control Mechanism (DCM) and the change to the voting arrangements for shares held in the Alliance Trust Savings Schemes.
Our position is that we believe that it is not in shareholders’ interests to have a consistently wide ...
PRESS RELEASE 03 (04/03/2011)
The UK Individual Shareholder Society (ShareSoc) is throwing its weight behind proposals for the involvement of investors in the process that leads to the nomination of directors to the boards of companies.
ShareSoc recently made a submission to the Financial Reporting Council (FRC) on the use of Nomination Committees to select auditors. In addition we would like to see this system also used for the appointment of directors and to set the remuneration of the directors.
ShareSoc Chairman Roger Lawson ...
PRESS RELEASE 02 (25/02/2011)
Shareholders in Acuity Growth VCT, with the support of ShareSoc, are calling for substantial changes to the board of the company. The final results for the financial year ending September 2010 were published on the 31st January 2011. These showed a 33% reduction in NAV and yet again, no dividend payment. This follows a similar dire performance in the previous year.
The Directors of the company are now actively seeking a new investment manager. However this action is long ...