The AGM of Quintain Estates & Development plc, to be held on 9 September, will again include a separate resolution to approve the report of the Audit Committee. Furthermore, shareholders will be asked to vote on the re-election of the Chairman of the Audit and Remuneration Committees – as distinct from their re-election to the […]
Read MoreTesco’s AGM today saw the largest against vote (41.03%) against a share plan at a FTSE 100 company since Manifest began collecting voting data in 1996. When analysed including abstentions, it was the largest rebellion in the FTSE 100 in 2009 and the biggest since Royal Dutch Shell in May 2008. At Shell however, votes […]
Read MoreThree AGMs have this week seen shareholder dissent reach notable levels. Home Retail Group shareholders voted to approve the remuneration report, but dissent represented the fifth biggest rebellion on the remuneration report in the FTSE 100 so far in 2009. Total dissent of 40.49% was split between against 32.99% and abstentions 7.5%. The Company had […]
Read MoreSome 18 Japanese companies are known to have disclosed the results of their 2009 AGMs on their corporate websites, in what is an improvement from two companies on 2008 according to Sumitomo Trust. Japanese regulators are expected to introduce a rule on disclosure of proxy voting results ahead of Japan’s 2010 AGM season. The data […]
Read MoreThe results of the voting at the AGM and GM of Lloyds Banking Group held today have now been released by the Company and show that, after the Government holding of 7,277,204,386 shares is excluded, over a third of the remaining shareholders who cast their votes at the AGM failed to vote in favour of […]
Read MoreAt today’s AGM of Tomkins plc (FTSE 250 constituent), only 38.8% of shareholders voted in favour of the remuneration report resolution. Measured in terms of dissent (61.2%), the rebellion against the remuneration report ranks just outside the top ten all-time for such resolutions, however the resolution did manage to pass. The dissent was split between […]
Read MoreManifest’s campaign to ensure shareholders at Irish companies have the opportunity to cast an advisory vote on the remuneration report gathered momentum over the weekend, with a full page article in the Irish edition of The Sunday Times. Last month Manifest filed shareholder resolutions at five Irish companies seeking an advisory say-on-pay vote. The Sunday […]
Read MoreThe advisory vote on the remuneration report at AGM of OZ Minerals on 11 June is expected to see a very significant protest vote following the AU$10m severance payment received by former Oxiana CEO, Owen Hegarty, during the year. The payment was made despite a majority of proxies lodged being voted against a resolution to […]
Read MoreDid the Lloyds board act with sufficient care on the HBOS deal? Manifest takes a look at the legal aspects of directors’ duties in the context of one of this century’s most politically charged takeovers. The 2006 Companies Act for the first time codified a number of long established common law principles relating to the […]
Read MoreRyanair is asking the Aer Lingus to cut the salaries of its Chairman, Colm Barrington and the non-executive directors due to the airline’s ‘stated need to significantly reduce costs’. Ryanair, a 29.8% shareholder in Aer Lingus, has requisitioned two resolutions at the Aer Lingus’ 5 June AGM. Earlier this year all Aer Lingus Board members voluntarily […]
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