corporate governance

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 ...

AGMs and impact of Covid-19

By Cliff Weight, ShareSoc Director This is a complex area. It would be good to hear your views and ideas. Please add them via the comments box below this...

Sirius Update #9, 14 March 2020

The general disappointment and in many cases anger due to the crystallisation of losses for many investors remains. We reiterate the overall unfairness of the deal, but in the end, this was the only deal on the table. So, what next? The Court Hearing on 13th March approved the scheme and it will become effective on 16th March. After this comes the question of legal redress. Here, the process changes gear: time is no longer of the essence, and it is important to ...

ShareSoc Launches EDGE Performance VCT Campaign

ShareSoc has launched a campaign to improve the performance of Edge Performance VCT Plc (consisting of H and I share classes) and reduce the fees charged by its investment...

FRC Fines Grant Thornton £650k, Ted Baker and Tullow

A ShareSoc member emailed us to give his view: This is terrible. Why wouldn’t the FRC name the partner and the company involved, especially when Grant Thornton has been...

One in 10 investment trust board directors have no ‘skin in the game’

By Cliff Weight, ShareSoc Director The new remuneration guidelines from the Investment Association have this to say about Share Ownership: Non-Executive Shareholding Shareholders encourage non-executive directors to own shares...

Daily Mail, 15 Nov 2019, G4S should be ejected from FTSE 4 GOOD index

Cliff Weight, director at non-profit investor group Sharesoc, said: 'These are unbelievably serious allegations. It is clearly time for them [G4S] to come out of the FTSE 4 Good index.' See https://www.thisismoney.co.uk/money/markets/article-7686711/G4S-blacklisted-Norway-human-rights-concerns.html  

ShareSoc-UKSA Response: Law Commission Review of Intermediated Securities – Call for Evidence

ShareSoc-UKSA submitted a joint response on behalf of individual investors, on 5 Nov 2019. The key points we made were: Communication by email rather than by post is now the norm and assumed as the default position. Printing annual reports and shareholder circulars and sending them to shareholders by post is no longer necessary. Postage and printing costs were some of the key drivers of the nominee system. A modern system of intermediated securities should embrace and recognise modern technology and ensure ...

FRC: Individual Shareholders Engagement Meeting 5 Nov 2019

This was an excellent event, well organised by the FRC with about 80 attendees from ShareSoc and the UK Shareholders’ Association. It is very reassuring to hear the underlying...

JD Wetherspoon Results and Directors Reappointed at Edge Performance VCT

JD Wetherspoon (JDW) published their results for the year on Friday (13/9/2019). The revenue figures were very positive with like-for-like sales up 6.8%, overall revenue up 7.4% and earnings...