Manifest in the press

IR Magazine has been looking at shareholder activism in Europe and quotes Manifest:

A different style of activism?
Historically, there have been obstacles to waging a successful activist campaign in much of Europe. Many markets are opaque, the proxy voting system has been leaky with votes often lost, and some countries still block any shares to be voted for several days prior to the AGM, putting a damper on shareholder participation.… Read the rest

Corporates hit out at short-termism review

The UK’s Institute of Directors has hit out against the proposed review of executive pay and short-termism in the City. Speaking to the Daily Telegraph, Miles Templeman, Director General of the leading corporate lobby group expressed deep reservations that the review would not generate the period of stability that corporate policy needed.… Read the rest

In the Pipeline

Shareholders of JD Sports Fashion plc will note a massive 66% salary increase awarded to the executive chairman (from £423k to £700k) when considering the company’s remuneration report. Additionally, the remuneration committee is seeking shareholder approval for the chairman’s proposed cash-based long-term incentive award with a face value of £3.5m.… Read the rest

Proxy censorship – or the SLAPP suit

We’ve never heard of a SLAPP suit before, or not until Wall Street Journal reported on the KBR/Chevedden case on Monday morning:  Firms Try New Tack Against Gadflies: Corporations Look to Block Shareholder Activists’ Proposals by Challenging the Size of Their Stakes –… Read the rest