….no evidence. Last year, ESMA conducted a consultation on the topic of empty voting, designed to find out the nature and extent of the decoupling of voting rights from economic ownership. Last week, they published the responses received, and concluded that no regulatory action is necessary – possibly because the overwhelming majority of respondents could […]
Read MoreThe upcoming AGM of Deutsche Bank AG is looming large in many shareholders minds now. With the long running succession planning debate at the company leading some proxy advisors to publicly recommend opposition to ratification of the supervisory board acts, combined with countermotions tabled for director elections, there’s plenty for shareholders to consider. The ability to […]
Read MoreProcedures for voting at the upcoming AGM of Volkswagen AG have raised a few eyebrows at Manifest today (Tuesday 12th April). Unashamedly putting the Shareholders’ Rights Directive (SRD) record back on the record player, and turning the volume up to 11, (and just checking it wasn’t April 1st again) we were somewhat surprised, to say […]
Read MoreManifest responds to the European Commission consultation on potential legislation covering the processing of rights flowing from securities by “securities accounts providers” (largely, custodians). Ever prior to the Shareholder’s Rights Directive publication 2007, Manifest has highlighted that the role of intermediaries in the chain is just as important, if not more so, in enabling shareholders to […]
Read More