ShareSoc

FCA Annual Meeting 10am 15 September – Virtual Meeting

This meeting is open to all. You can register here: https://webinars.fca.org.uk/annual-public-meeting-2022 You can also submit questions if you wish. I have submitted a question on behalf of ShareSoc: ShareSoc, a not for profit independent organisation, dedicated to supporting individual investors, has made a considerable investment in producing an attractive video series, designed to help new investors. Will the FCA help to promote this series, to ensure that the general public is well informed about the basic principles of sound investment practice? Will you meet with ShareSoc ...

Post Date: September 15, 2022 Read more

How to ask Questions at AGMs

The furore caused by a few grumpy old misogynistic men asking questions at the Aviva AGM is huge. It casts a terrible image and is totally unrepresentative of the vast majority of individual investors who are professional and courteous. ShareSoc totally disapproves of the appalling conduct of certain shareholders at the Aviva AGM. See https://www.ft.com/content/01b723f1-1a7b-4096-86be-95148eb8aca0 (subscription required) and https://www.thisismoney.co.uk/money/markets/article-10806369/Aviva-boss-hit-misogyny-City-sexism-storm-AGM.html Amanda Blanc said: 'After 30-plus years in financial services, I am pretty used to sexist and derogatory comments. 'Sadly, just like many other women in ...

Post Date: May 19, 2022 Read more

Policy and Campaigns – Progress Update 04 April 2022

Policy and Campaigns – Progress Update 4 April 2022 Since our last update in November 2021 (see page 16 here), we have worked on: 1. Consultation responses and government lobbying 2. Woodford Campaign 3. Voting Guidance and Shareholder Engagement 4. Shareholder Rights/Nominees 5. SVS/ITI 6. FCA liaison 7. FRC, BEIS, etc liaison 8. Campaigns 9. AIM regulation 1. Consultation responses and government lobbying. This continues to be a major area of work, where ShareSoc represents the interests of individual investors. We have submitted responses to: • FRC Endorsement Board – Draft Endorsement Criteria ...

Post Date: April 13, 2022 Read more

IMB – Imperial Brands Company Information and Vote Guidance 2022

by Cliff Weight, Director, ShareSoc. These are my personal views and not necessarily those of ShareSoc. ShareSoc introduced this new added value voting information service, for Full Members only in 2021, providing background information on leading companies and AGM vote guidance. Initially we are piloting this for FTSE30 companies, plus a few others in the FTSE100. We have decided to continue the pilot in 2022 and are looking at ways to improve our services to members. I do not own shares in ...

Post Date: January 26, 2022 Read more

Policy and Campaigns – Progress Update 20 Dec 2021

Since Oct 12 (see previous update here), we have worked on: Audit and Governance reform: many members have told us of their concerns about the disasters at Carillion and many others. We view the audit and governance reforms as crucial and have pressed for these to be moved forward as quickly as possible. We are concerned about lobbying to slow down this progress and co-signed a letter to the FT which was published on 12 Nov. 21. Woodford Campaign: ...

Post Date: December 22, 2021 Read more

DotDigital: how not to run an AGM

The views expressed in this article are those of its author and not necessarily those of ShareSoc. I have been a shareholder of DotDigital for 8 years now and I was appalled by the manner in which the virtual AGM that I have just attended was conducted. Shareholders were advised that in person attendance would not be possible, so a virtual AGM would be provided via the Investor-Meet-Company (IMC) platform. I duly completed the necessary formalities and looked forward to asking my questions ...

Post Date: December 22, 2021 Read more

FT, 22 Oct 2021, Getting heard on climate: small investors take on big companies

Click here to read the article Alice Ross, FT Deputy Editor, has written a major article about how "Retail shareholders can get organised and can push for change if they band together". The article focusses on the successes of the pressure group ShareAction who have successfully used their AGM Army to ask questions at AGMs and lobby for change. However, Cliff Weight and ShareSoc are also quoted at some length. One problem for retail investor engagement, however, is that the vast majority remain uninvolved. ...

Post Date: October 23, 2021 Read more

FCA AGM questions – Response to ShareSoc question on financial education

Asking a question at an AGM is often a good way to get access to the Board and force them to engage on a key issue. This approach worked well with the FCA, where I submitted three questions and one of which, on financial education, was answered in the live part of the meeting. Page 18 of the written record of the meeting records that I asked FCA Chair Charles Randell: Will the FCA support greater financial education in schools and in the wider world, ...

Post Date: October 19, 2021 Read more

Policy and Campaigns – Progress Update to 12 October 2021

Since June 14 (see https://www.sharesoc.org/sharesoc-news/policy-and-campaigns-progress-update-14-june-2021/ for previous update), ShareSoc's Policy and Campaigns' team have worked on: Woodford Campaign: Leigh Day have submitted their claim. They now have 11,000 claimants and another 3,000 registered, but yet to sign their Leigh Day agreement. We held a very successful webinar on 30 Sept with 942 registrants. ShareSoc’s Woodford Campaign now has over 1,500 members, which enables us to lobby strongly for regulatory change and to hold to account those who have done wrong. ...

Post Date: October 14, 2021 Read more

BHP – Company Information and Vote Guidance 2021

by Cliff Weight, Director, ShareSoc. These are my personal views and not necessarily those of ShareSoc. I own shares in BHP and have recently bought some more. With sales of c.£50bn, their EV (Enterprise Value = market cap plus debt) of £100 bn is 2 times turnover and this looks much more reasonable than the Diageo shares I recently reviewed and sold. The BHP p/e (forecast) ratio is a very modest 7. For over 15 years BHP have met annually with shareholders ...

Post Date: October 9, 2021 Read more

Group description:	Our group members have wide ranging investment experience and work backgrounds. Discussion topics include reviewing our recent stock or collective investment buying and selling activity, plus what we are considering buying or selling and the reasons for our decisions. We also have a wider discussion on where we think opportunities might arise in the next few months and what we think needs to be avoided. Members occasionally lead discussions on specific topics such as recent events attended, articles or books of interest and sources of investment ideas and information.
Meeting Type/Venue:	Since the pandemic our meetings have been held on Zoom, but the aim is to resume meeting in person at the usual venue which is in a location a few miles to the west of Colchester.
Meeting Frequency/Timing:	We meet midweek every two months. Zoom meetings run for about two hours from 10.30am and in person meetings from 11am until about 3pm, including a break for lunch.

Group description:	This group is open to all levels of investor and is particularly popular because it meets after working hours in central London. The meeting usually has a presentation or group discussion on aspects of investing and also runs a Buys & Sells session which gives everyone the chance to see what the other group members are buying or selling and why.
Meeting Type/Venue:	The venue is near Victoria Station in a pub where the group also enjoy a meal from a typical pub menu.
Meeting Frequency/Timing:	This group meets in the evening in London. It is a face to face group that meets every third Tuesday in the month from 6.30pm to 9pm.

Group description:	This group is for those interested in investing in the USA. It is open to all investors with a special interest in this area and all levels of experience are welcome. A typical meeting will have a discussion on a particular market issue or a presentation by a member or external speaker on a subject of interest to the group. All members are expected to play a part in presenting and to take an active role in making the group of value to all its members.
Meeting Type/Venue:	As a specialist group with a wide geographic spread of members, our meetings are held on zoom.
Meeting Frequency/Timing:	Meetings are monthly and are held on the third Tuesday in the month from 11-12.30PM.

Group description:	This group was set up as a forum to discuss companies in detail, each company is introduced by a member and discussion may last one or two hours. Membership is by invitation only.
Meeting Type/Venue:	The group meets at a venue in Waterloo, London.
Meeting Frequency/Timing:	Meetings are from 11.00 until 16.30 and at two month intervals.

Group description:	This group was set up as a forum to discuss companies in detail, each company is introduced by a member and discussion may last one or two hours. Membership is by invitation only.
Meeting Type/Venue:	The group meets at a venue in Waterloo, London.
Meeting Frequency/Timing:	Meetings are from 11.00 until 16.30 and at two month intervals.

Group description:	A small group whose primary interests are equity and Investment Trusts.
Meeting Type/Venue:	Currently meeting online using Skype. It is envisaged to have occasional meetings at member’s private houses in the future.
Meeting Frequency/Timing:	Meetings are held fortnightly on Tuesday mornings using Skype.

Group description:	A long-established group, however, we welcome new applications. Our meetings start at 10:15am with coffee and scones when members comment on their investment activities since the previous month. Generally, each member reports on a specific Company/IT/Fund e.t.c. This brings us to about 12:30pm when the meeting ends, and we have lunch.
Meeting Type/Venue:	In-person at a Golf Club in Belfast.
Meeting Frequency/Timing:	The group usually meets on the second Wednesday of the month, all year round, except in July and August when we have no meetings. Meetings commence at 10:15am and last 2-3 hours (including lunch).