Hammerson shock vote loss

Short-dated EGMs – don’t ban them, fix the voting

Pity poor Hammerson plc who last week became the first FTSE 100 company  in many years to lose a routine resolution because it failed to achieve the necessary majority. We say “routine” because, for UK shareholders at least, calling EGMs on 14 days notice is completely non-contentious, provided they are not used for frivolous business (the introduction of a new LTIP, for example).… Read the rest

Herbie votes again?

Procedures for voting at the upcoming AGM of Volkswagen AG have raised a few eyebrows at Manifest today (Tuesday 12th April).

Unashamedly putting the Shareholders’ Rights Directive (SRD) record back on the record player, and turning the volume up to 11, (and just checking it wasn’t April 1st again) we were somewhat surprised, to say the least, to find that foreign shareholders of VW’s shares are still required to physically sign a proxy form in order to appoint and instruct a proxy to vote their shares.… Read the rest

Commission consults on an EU corporate governance framework

The European Commission released the eagerly-awaited Green Paper on Corporate Governance this week. It follows on from the Green Paper in June 2010 on Corporate Governance in Financial Institutions, as a result of a strong response pointing out that many of the corporate governance reforms discussed in the FI context were relevant more generally.… Read the rest

Vote Tapping. Issuers, please – Just Say “No”

Just Say No

Here at the Manifest blog we try to keep a balance of news and stories for the informed Stewardship community – which includes shareholders and issuers. Today’s piece is addressed directly to the issuer community. It’s a simple message: when it comes to buying vote data, please  Just Say “No”.… Read the rest