As the SEC returns to work after the shutdown, Commission chairman, Jay Clayton has started to lay out his departments work for the coming year. During a conference call with the Investor Advisory Committee, (Thurs 6 Feb 19) Clayton announced that fellow Commissioner Elad L Roisman has agreed to take on the proxy plumbing brief. […]
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TUI AG: Board view deviations from UK governance practice as necessary TUI AG holds its 2019 AGM on 12 February and shareholders will note deviations from certain UK good governance practices. This is due to TUI having a primary listing on both the German Stock Exchange and the London Stock Exchange. TUI states that while […]
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FRC and FCA target new, rigorous stewardship regime, SRDII implementation begins, ESG resourcing questioned In the latest round of consultations and discussion documents, the UK’s governance and financial markets regulators have laid out their “substantially higher expectations for investor stewardship policy and practice.” Having engaged with 170 members of the investment community, the FRC’s proposed Code […]
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PLSA Annual Voting Review 2018 As the 2019 AGM season approaches, the UK’s asset owner membership body, the PLSA has published its annual AGM Review. The report, which draws heavily on Minerva’s voting results and research data, highlights some of the key themes and developments from 2018’s voting season, as well as looking at long […]
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Compass Group AGM: 37% dissent on “overboard” NED At FTSE 100-listed Compass Group’s 2018 AGM significant shareholder dissent of 37% was recorded on the re-election of non-executive Ireena Vittal. The dissent was due to ‘overboarding’ concerns, that is concerns that Vittal held too many other directorships such that she could not devote sufficient time to […]
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Connect Group: Internal control failings identified by the Board FTSE SmallCap Connect Group has recently gone through a shake-up of its executive team following trading and operational concerns, internal control failings, and a fall in share price. In light of these concerns, shareholders will need to be satisfied with the actions being taken by the […]
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ITE Group to seek shareholder approval to amend remuneration policy At FTSE SmallCap ITE Group’s upcoming AGM the board is seeking shareholder approval to amend its remuneration policy and Performance Share Plan (PSP) to allow for enhanced awards to be granted to CEO Mark Shashoua and CFO Andrew Beach in the 2019 financial year. The […]
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Diploma plc: CEO departure deemed to be in the shareholders’ interest FTSE 250 listed Diploma plc appointed in April of 2018 Richard Ingram as Interim Chief Executive ahead of the anticipated retirement of long-serving CEO, Bruce Thompson in May. The Remuneration Committee agreed to compensate Ingram for existing incentives from his previous employment which comprised […]
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Tax Secrecy: GRI Consultation, New Minerva Guidelines Academic research has found that tax avoidance can increase the risk of share price crash [1] and the public revelation of aggressive tax avoidance can result in negative investor reaction and potential significant reputational costs[2]. Tax management is therefore a strategic business issue which can pose a material financial risk […]
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Applied Graphene Materials: compliance with codes is not the same as meeting investors’ expectations
AIM-listed Applied Graphene Materials holds its AGM on 18 December 2018 and with the elevated awareness of AIM governance standards, it’s worth taking a look at AGM’s AGM disclosures to better understand the differences between what’s expect of main and junior market companies. Good governance disclosures and financial reporting support open and effective dialogue between […]
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