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What to do when shareholders elect not to vote on a resolution? Recent legal developments in Australia have raised interesting questions about the common practice of the chairman voting undirected proxies for say-on-pay resolutions. In the majority of markets with developed shareholder voting procedures, for each proposal, the shareholder has three choices; …… continue reading >> An analysis by Manifest of voting trends on the remuneration report since its introduction in 2003 has revealed the FTSE 100 companies with the greatest level of shareholder dissatisfaction, on average, over the period. The list includes some companies where there has been one very large dissenting vote, but the more interesting …… continue reading >> 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. The vesting …… continue reading >> The Australian Future Fund, established in 2006 to assist future Australian governments meet the cost of public sector superannuation liabilities, has released its 2009/10 annual report. The report reveals for the first time how the Fund has cast its voting rights at shareholder meetings in Australia, having taken its voting at domestic …… continue reading >> Centamin Egypt, the Australian incorporated gold mining company which entered the FTSE 250 index in June 2010, will hold its AGM on 9 November in London. At its 2009 AGM the remuneration report vote was defeated, however shareholders will not get an opportunity to vote on the remuneration report in 2010. The …… continue reading >> While the AGM season is now mostly behind us as far as the biggest European blue chips are concerned, it’s now the turn of the mid-caps to face their shareholders. A quick review of the data so far shows that overall turnout, based on 74 of the top 100 UK meetings is holding steady at …… continue reading >> When is an abstention not an abstention? A possible party-time trivia question for lawyers maybe, but a question with real consequences for shareholders which highlights yet again the importance of ensuring local knowledge is applied to voting decisions. Most company law regimes have special provisions for dealing with ‘qualified majority’ issues. They may differ …… continue reading >> |
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© 2012 Manifest - The Proxy Voting Agency | ISSN 1745 - 1132 | |
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