The AGM, which was held in Dundee on Thursday 27th April, was very well attended. The formal proceeding were preceded by a short presentation from the Chairman and from Peter Michaelis, the manager who had been responsible for the Trust's portfolio until the end of March 2017, i.e. while it was still being managed by Alliance Trust Investments. There were no particular surprises in either presentation although Lord Smith did mention that Alliance Trust Savings' progress, while in the right direction, ...
Good attendance - over 300 shareholders.
Opening remarks by Lord Smith explained why he had accepted the Chairmanship.
a) Company faced challenges.
b) What needed to be done had been identified.
c) A plan was in place.
Lord Smith's final check was to make sure that the "people" could deliver and the answer was that they could.
Against the background of the Trust's long established reputation (deep, rich heritage) Lord Smith felt he could add value. The Trust mattered to 102,000 shareholders, 300 staff, and the 60 ...
The following blog post was published on the 30th April 2015 which gives a good summary of events
at the AGM. What follows afterwards is a more detailed report. Note that for a full explanation of
what the dispute was about at Alliance Trust see this note on our web site:
https://www.sharesoc.org/ShareSoc_Alliance_Trust_Analysis.pdf and RNS announcements that were
issued by both parties during the battle.
These are some initial impressions of the Alliance Trust AGM in Dundee. It was not quite as exciting
as it might have been ...