French Company Law now has a further measure which French companies can use to block dissident shareholders from using their influence at general meetings of shareholders. On 8 December 2010, the French President signed into law an an amendment to the Commercial Code, one part of which inserts three additional sections relating to voting at […]
Read MoreThe Korean Justice Ministry stated this week that Korea has ‘made hostile M&A attacks easy by removing a ceiling on foreign stock investments, but it has not had any means to prevent hostile M&A’. It has announced public hearings to consider proposals to provide for the use of poison pills. Reuters reported that business groups […]
Read MoreCiting the pressures of the “financial crisis” the ING Trust Office has stepped back from its committment to review its role in voting the un-voted shares at Dutch BOFI, ING Group. Foreign shareholders will be dismayed to see that despite having met the 35% voting threshold at the last 3 AGMs, the Trust appears determined […]
Read MoreBouygues, a constituent of the French blue-chip index, the CAC 40, is looking for shareholder approval for three potentially contentious proposals at the forthcoming AGM on 23 April. The most contentious proposal is Resolution 24, seeking an authorisation to issue ‘bons breton’ warrants. Legislation passed in France in 2006 allows directors, with shareholder approval, to […]
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