UNILEVER PLC (ULVR)

UNILEVER PLC (ULVR)

Blog posts

Serco Charges, Unilever Trading and DotDigital AGM

I like to report on the latest evidence of fraudulent accounting just to remind folks how little one can trust the accounts of companies. I have not mentioned Serco...

A Bad Day in the Market, but Good News from Unilever and BEIS

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 ...

AGM Reports

UNILEVER (ULVR) AGM 2018

On 2 May 2018, I attended the Annual General Meeting of Unilever (ULVR)in the Queen Elizabeth Hall conveniently situated close to Waterloo station, which started at 10:30 AM. Prior to that we were served a choice of PG Tips and Lipton's and other Unilever brands. I am a 30 year shareholder in Unilever and very pleased with performance. Unilever is a hugely complex company with about £110bn market cap, Euro 54bn turnover, Profit after tax of Euro 6.5 bn and 8% dividend increase. ...

Unilever (ULVR) AGM Report 2014

This group had, as usual two AGMs in one day, the 14th May. The first was in the Netherlands for Unilever N.V., the second in London at 3 pm for Unilever plc, the board transferring from Holland by air to attend the second meeting. This arrangement more or less works, with some residual directors visible by video from Holland. We had fourteen in the room and five on the link. The venue was the Mermaid Conference Centre in Puddle Dock, a few ...

Unilever (ULVR) AGM Report 2013

Unilever plc, with its other half Unilever NV being in the Netherlands, has a split set of AGMs. This year’s “plc” meeting was held at the QEII Conference Centre at 3pm to allow the “NV” meeting to take place in Rotterdam in the morning, with the Chairman and others attending both meetings and a race for aircraft to make it work. This issue, following a question from the floor, is being discussed by the board in an attempt to produce a ...

ShareSoc News

Law Commission Review of Intermediated Securities Consultation

I am writing to ask you to: Send me examples and evidence we can use in our submission; Consider making a personal submission yourself; and to Update you on this important issue. Submissions to The Law Commission Call for Evidence on the subject of dematerialisation, intermediated securities, shareholder rights and nominees/platforms must be made by 5 November. The Law Commission “scoping” study will provide an accessible account of the law. It will also identify the corporate governance and other legal issues associated with ...

UKSA / ShareSoc policy papers, submissions and campaigns

Since we began merger discussions, UKSA and ShareSoc have worked together on policy and campaigning issues. Below is a list of issues where we have made a significant input. This shows the wide number of areas where we have been active since 1st January 2017 (Updated 25th October 2018). Date Document Recipient Drafted by Notes December 2018 (Started Dec 2016) RBS Shareholder committee campaign RBS/Media ShareSoc (CW) Supported by UKSA November 2018 Procurement of Audit services (Kingman Part II) Sir John Kingman PP with CW Joint submission from UKSA and SS October  2018 Competition and Markets Authority (CMA) consultation ...

Unilever abandons its plans. ANOTHER VICTORY FOR INDIVIDUAL SHAREHOLDERS

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 ...

Joint UKSA-ShareSoc Letter in the FT re Unilever Vote and UK Shareholder Disenfranchisement

  The letter, headed Complacency on Unilever vote may rebound on UK, said Sir, 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 ...

UKSA and ShareSoc Joint Recommendations for Voting re Unilever Resolutions

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 ...

Corporate Remuneration Reports

Unilever Remuneration Report 2016

Attached is the Manifest Report. Manifest Executive Remuneration Assessment grade 'D’ (on scale A =good to F=awful) Manifest report: Poor degree of alignment between KPIs and performance metrics. The Remuneration Committee has discretion to adjust the level of the annual bonus. Poor level of disclosure in respect of annual bonus and LTIPs performance targets. Shareholders should note that the Company has announced it will disclose its LTIP performance targets after the end of the performance period. Limits set under both short- and ...