It was a bad day in the market yesterday, with the FTSE All-Share falling over 1%. This seems to have been driven by a sell off in bonds. Equity prices are usually linked to bond prices simply because as bond yields rise from a fall in bond prices, it becomes more attractive to hold bonds relative to equities. That particularly applies to shares that are “bond proxies”, i.e. ones bought because of their high yields for income seeking investors.
These changes have ...
This morning 5 October Unilever announced it had abandoned its plans, so there is no longer any need to vote. What good news this is. It is a triumph for all those involved in engaging with the company, who have belatedly listened to our arguments.
We were very concerned about the disenfranchisement of individual investors in the Unilever vote on 26 October.
Members may wish to know that as part of our campaign, ShareSoc on 4 October, sent the following OPEN LETTER TO PLATFORMS AND NOMINEE COMPANIES.
4 October 2018
UNILEVER PLC ...
The letter, headed Complacency on Unilever vote may rebound on UK, said
Neil Collins highlighted the importance of small investors in Unilever’s coming votes (Inside London, FT Weekend, September 22-23).
A scheme of arrangement requires approval by at least 75 per cent in value of each class of the members or creditors who vote on the scheme, being also at least a majority in number of each class.
The court’s permission is needed to convene the meetings of members and creditors to ...
Unilever’s proposal to rationalise its share structure and move its HQ to the Netherlands
Many members will be aware that Unilever is planning to simplify its share structure by scrapping its dual UK / Dutch structure and moving its headquarters to the Netherlands. UKSA and ShareSoc are very doubtful whether these changes will be in the best interests of most private shareholders.
Unilever's plans will result in their plc shares being taken over by NV shares, which will be listed in Holland and ...