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An Urgent Call to Include Individual Shareholders in New Issues – Sign Now!

Treat all shareholders fairly. There is no need to ignore individual shareholders in raising funds. Sign the petition now https://allinvestorsmatter.co.uk The Times reported today 20 April 2020 our letter (see https://allinvestorsmatter.co.uk/) which was co-signed by Mark Northway, Chairman of ShareSoc, our Patron Lord Lee (John Lee) , PrimaryBid and an impressive list of industry heavyweights. We have been working closely with PrimaryBid on this initiative. The Times article is here: https://www.thetimes.co.uk/article/city-chiefs-demand-fair-shares-for-equity-raises-hr9fhzzb8 This is an urgent call for UK PLCs, industry bodies, regulators, investors, ...

RBS Shareholder Campaign and AGM voting recommendations – Update 18, 17 April 2020

 RBS could do better! It would be wrong to lambast RBS in the eye of the COVID-19 storm, but we note the following issues: 2020 AGM solution requires voting before discussion Directors’ shareholdings are too small – no alignment with shareholders No information on potential loan impairments from COVID-19 pandemic Market cap of £12bn is too small versus £723bn total assets The RBS Board has in this time of crisis, reverted to type – communication flows and quality of ...

Communicating with Shareholders in Covid times

The FRC have prepared this infographic about communicating Covid-19 impacts to shareholders (click to view larger image). Online Q&A forums and live streaming of AGMs are good ideas. However, individual investors are an important constituency in this, but not properly considered in the new guidance on AGMs. Shareholders will want to question directors about the impact of coronavirus and its implications on the company liquidity and solvency and will want reassurance about these and the ongoing business model. Never has the importance of ...

Long Serving Directors and Kings Arms Yard VCT

I have commented in the past on my objections to long-serving directors on public company boards. That included comments on the directors of Baronsmead Venture Trust (BVT) only a few weeks ago – see my AGM report: https://www.sharesoc.org/agm-reports/baronsmead-venture-trust-bvt-agm-2020/ – particularly the Chairman Peter Lawrence. The UK Corporate Governance Code contains specific provisions that indicate that directors who serve for more than 9 years cannot be considered independent. Therefore companies should provide good explanations as to why they wish to ignore this provision. ...

Market Manipulation? The Burford Case

In this article from October last year, ShareSoc director Paul de Gruchy sets out the allegations Burford has made about manipulation of its shares, during a "shorting attack". Many ShareSoc members are concerned that the FCA is not adequately enforcing the market abuse regime, which is intended to deter market manipulation (whether long or short). Burford's case has now reached a critical juncture. Burford have asked the court for a "Norwich Pharmacal Order", to compel the LSE to disclose the identity of traders ...