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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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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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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FTSE 100-listed Associated British Foods reported in its annual report that a subsidiary of the Group incurred political expenditure to the approximate value of £5,000 during the year. The Company has not disclosed any further details on the expenditure, such as the nature of the expenditure, for what purpose the expenditure was incurred, and what […]
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FTSE SmallCap urban regeneration and land development specialist MJ Gleeson Group holds its AGM on 6 December and shareholders may hold concerns with the level of independence on its board. MJ Gleeson’s board consists of CEO & Managing Director Jolyon Harrison, CFO & Company Secretary Stefan Allanson, Chairman Dermot Gleeson, and non-executives James Ancell, Colin […]
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UK Governance Watch FTSE 250-listed Kier Group’s suffered a shareholder revolt at its 2017 AGM after 44.16% of shareholders opposed the approval of its remuneration report. The construction and services business also saw 21.24% of shareholders oppose its remuneration policy. The key cause for shareholder concern was the remuneration committee’s decision to award CEO Haydn […]
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UK Governance Watch At JD Wetherspoon shareholders may hold concerns with the level of independence on the board. At the conclusion of the FTSE 250 pub owner and operator’s AGM the board will comprise three executive directors, Chairman Tim Martin – the company founder and controlling shareholder – and four non-executive directors. Of the four […]
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