Holders of common shares in Millicom International Cellular are in line for a surprise pre-Christmas bonus, to the tune of $3 per share. Shareholders at Millicom’s EGM, convened specifically for the purpose, today voted in favour of the special dividend proposed. Why is this likely to be a surprise? Well that’s because very few institutional […]
Read MoreShort-dated EGMs – don’t ban them, fix the voting Pity poor Hammerson plc who last week became the first FTSE 100 company in many years to lose a routine resolution because it failed to achieve the necessary majority. We say “routine” because, for UK shareholders at least, calling EGMs on 14 days notice is completely […]
Read MoreDavid Wighton of The Times writes about the problems of low turnout at shareholder meetings. “Shareholders have to get out there and vote” describes the problems facing Minerva, the property company fighting off a bid from 29.9 per cent shareholder Nathan Kirsh, and Mitchells & Butler, the UK’s biggest pub company, which claims that a concert […]
Read MoreMixed news from the US federal courts this week as John Chevedden faced up to Apache Corporation over his attempt to submit a shareholder proposal. Chevedden’s troubles began when he sought to eliminate Apache’s supermajority voting requirement and introduce a simple majority standard. At the time of the initial submission, he stated that he owned 50 […]
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