proxy voting chain Archives

A surprise pre-Christmas bonus

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 […]

The heart of darkness in proxy voting?

A shorter version of this article appeared in Financial News on Monday, October 10th 2011 The City might sometimes wish it otherwise, but voting rights are central to shareholders exercising oversight of the companies they invest in. Since the publication of the Cadbury Report in 1993 there has been great emphasis on the role of […]

SEC sends in the proxy plumbers

The SEC has reaffirmed its commitment to reform the US proxy voting system. In a speech to Chicago’s Northwestern University School of Law on October 2nd Commissioner Elisse B. Walter outlined the SEC’s position on the mechanics of shareholder voting: “To further our goal of improved corporate governance, our staff is also taking an in-depth look […]

Chain of intermediaries binds US shareholders too

Mixed 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 […]

Occam’s razor applied to the (Infineon) proxy card

So, it’s 16:22pm the day after after Infineon’s highly contentious AGM. We have the streaming video from the meeting, we have the presentations, we even have a press release announcing the votes “For” the board candidates. But do we have a definitive list of proxy voting results. No. Is the IR department concerned that the […]