BG Group

Shareholder voting, remuneration and BG Group

Manifest, a proxy advisory service, have reported on the voting at Annual General Meetings recently. It was good to read that there was significant opposition to the change to 14 days notice at the General Meetings of both Arm and Anglo-American - 18% at the latter and even higher at the former. This commonly arises where there are substantial overseas holders who find difficulty in getting in their proxy votes in time because of the complexity of the voting chain. But ...

Shell & BG Group Deal – Not Everyone’s Happy

(Pay packages and short termism at BG Group and Amec Foster Wheeler) Shareholders in BG Group should surely be happy. The offer from Shell values their shares at about £13.50 per share which is a premium of 50% to that which they have recently been trading. Although investors will get most of the value in Shell shares which means they will still be holding shares in the depressed oil and gas sector. An indication that perhaps not all investors are happy is ...

ShareSoc Welcomes BG Group Decision but calls on Sir John Hood to Resign

ShareSoc is delighted by today’s news that BG Group has decided to withdraw the conditional share award that was proposed for new CEO Helge Lund. This is a good illustration of active shareholders being able to influence corporate policy and restrain abuses. However, today’s announcement, including acceptance by Mr Lund of the revised terms, clearly demonstrates that the original proposal was excessive and unwarranted. It is obvious that insufficient consultation with shareholders had been conducted before the proposed package was announced, as ...

BG Group EGM on pay award to new CEO

BG Group - A personal view by ShareSoc director, Mark Bentley BG Group will be holding an EGM on 15th December to consider a resolution to approve a “Conditional Share Award” for newly appointed CEO Helge Lund. Details can be found here: http://www.bg-group.com/assets/files/cms/2014Meeting_ShareholderCircular.pdf Mr Lund’s appointment was announced on 15 October 2014, taking effect from 2 March 2015. He has served as CEO of Statoil, the Norwegian oil and gas company, since August 2004. Prior to Statoil, Mr Lund was the CEO of ...