AGM Archives

TUI’s marathon AGM, Fredriksen rebuffed, again

TUI’s Hanover AGM was finally closed by the chairman at 21:00 on 13 May having started at noon. Monteray Enterprises, TUI’s largest shareholder, failed in its efforts to remove two members of Supervisory Board; appoint two representatives of Monteray to the Supervisory Board; and to request two ‘Special Audits’. According to the official results, turnout at the meeting […]

AGMs get heated: insults, eggs, now riots

Not so very long ago the AGM season passed the greater world largely unnoticed. Then in 1995 came the Cedric the pig, the mixed metaphor’d ‘fat cat with his snout in the trough’. We have then seen Hugh and his followers with their chickens at Tesco and this year, Fortis shareholders arming themselves with coins, […]

Fortis Shareholder Revolt

The Fortis shareholders’ meeting in Ghent, Belgium was stopped for half an hour, according to Radio Netherlands, after the Tuesday meeting descended into chaos. Shareholders angry at the proposed sale of Fortis Bank to French BNP Paribas threw shoes, coins and ballot boxes at management and demanded the board’s resignation. The revolt was led Lawyer […]

Agius against vote highest for FTSE 100 Chairman in over five years

The Times sources Manifest data today in it’s report on the Barclays AGM. The vote against the Chairman was the largest against vote recorded on the election of a FTSE 100 Chairman during the last five years. Some 16.14% of votes cast were against his re-election, while a further 0.92% of those voting abstained. If […]

Hellenic Exchanges seek re-pricing of underwater options

Just a year after approving a new share option programme, shareholders at Hellenic Exchanges (ATH:EXAE) are being asked at their AGM on 6 May to approve the repricing of share options granted during 2008. The options were originally granted at an exercise price of €11.76, with one third vesting annually from the first anniversary of grant. […]

Eddington concerns resonate with shareholders

Ahead of the Rio Tinto AGMs, Manifest flagged up its concerns regarding the re-election of Sir Roderick Eddington in our meeting business report. Manifest’s US partners, Proxy Governance, issued an ‘against’ recommendation on his re-election. The results of the voting the AGMs in London and Sydney have now been released. Each of the director election […]

RBS Vote Result Analysis

The resolution on the remuneration report at Royal Bank of Scotland Group plc represents the highest ever “Total Dissent” vote on the remuneration report since the introduction of the requirement for the report to be put forward to a non-binding vote.

Eddington re-election concerns at Rio Tinto

Sir Roderick Eddington will stand for re-election at the upcoming meetings of Rio Tinto plc and Rio Tinto Ltd, the two listed holding companies on the Rio Tinto group. Manifest’s research report ahead of the AGMs have noted a number of concerns in respect of Sir Roderick’s position on the Boards. He is a director […]

Strong support for shareholder resolution at Novartis AGM

Some 31.1% of votes cast at the AGM of Novartis, held in Switzerland on Tuesday, supported the proposal by Ethos and eight other shareholders that the company should provide shareholders with an annual advisory vote on the remuneration report. A further 2.9% of the votes cast were in the form of positive abstentions. In all […]

Tower Australia: performance shares spat

The life insurance company Tower Australia Group Ltd, held its AGM on 11 February 209 and saw significant opposition from shareholders on resolution to approve the grant of 250,000 performance share rights to MD, Jim Minto. Australian companies are required to seek approval annually for any grants proposed to be made to the executive directors. The […]