ShareSoc and UKSA have now paused this campaign, because RBS are now engaging better with shareholders and have announced a programme of 4 events a year specifically focussed on engagement with individual shareholders. See https://investors.rbs.com/shareholder-centre/shareholder-events.aspx, where you can also access a recording of RBS’ successful virtual event on 25 Nov 2019.
This has been a successful campaign. Notable achievements:
- We were able to successfully requisition 3 resolutions at two AGMs.
- Although we did not get shareholders to vote in favour of a Shareholder Committee, we feel that RBS would not have implemented its new shareholder engagement programme, without our intervention.
- Significant press coverage and wider profile of ShareSoc.
- The campaign facilitated meetings with key opinion formers and highlighted the inadequacies of many engagements between companies and their shareholders and fund managers.
- Many FSTE100 companies have now introduced Shareholder Engagement Meetings and we are pressing more companies to do so. ShareSoc and UKSA now recognise Shareholder Engagement Meetings as a good alternative to the adoption of a Shareholder Committee.
Cliff Weight, ShareSoc Director and RBS Shareholder Committee Campaign Coordinator.