Manifest-I

Welcome to Manifest-I the blog of Manifest, the proxy voting agency. Here we take a wide ranging view of topical governance and stewardship issues. Please feel free to add your comments and join the debate.

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Repeal the Decree asks leading Italian academics

Following on from a public statement issued last week by a group of leading Italian academics and legal experts, international institutional investors and their trade associations have been invited to add their voice to a call for the Italian Ministry of Finance to roll back a highly criticized legal measure that would strip longstanding investor protections and enable the More…

Proxy access - war war not jaw jaw

The US proxy access debate took a fresh turn recently with the attempt by seasoned governance commentator James McRitchie (www.corpgov.net) to get a shareholder proposal on the ballot at US organic food retailer Wholefoods. He submitted a proposal under which one or more shareholders owning 3% or more of outstanding shares for at least three years More…

Scandi Jet Drama

Reporting of the abuse of corporate jet use by top management at Sweden’s largest companies has focused attention on the internecine links between Sweden’s top investors and largest public companies Svenska Dagbladet the Swedish newspaper has reported that Swedish forestry company SCA has been using several private jets to fly top More…

Cross-border Share Voting: Checkpoint Charlie

The simple but powerful statement of solidarity with the notion of a free society that articulated the public reaction to the recent horrific events at the offices of Charlie Hebdo in Paris shows just how important freedom is in our modern age. Not just freedom of expression, but freedom of belief and movement too. “Je suis Charlie” is More…

Allergan & Darden cases highlight missing shareholder protections in the US

The Listing Rules of the UK Listing Authority have for many years included a requirement for shareholder approval of significant transactions. Whether or not a transaction is considered “significant” is set out in the Class Tests, defined in the Listing Rules. The recent cases in the US of the cash sale by Darden Restaurants of its Red Lobster More…