AGM Reports

AGM Reports

Our library contains reports on the Annual General Meetings of a large number of listed and quoted companies that our members have attended. This unique resource provides valuable insights for investors in those companies, not available anywhere else.

You will find summaries of our AGM reports on this page. You can also search for reports on a specific company, using our “Research” feature. Only full members of ShareSoc can view the full details of our AGM reports and need to login to do so. If you wish to gain access, click here to become a full member, for less than 90p/week and gain full access to our library of hundreds of AGM reports, as well as other member benefits.

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Majestic Wine (WINE) AGM Report 2013 – a sober affair

Majestic Wine are primarily retail wine merchants, although they also have some web and commercial sales. They also sell beer I learned (being such a sober fellow I am not a frequenter of their stores even though I hold shares in the company). Most of their retail outlets are “warehouses”, as one might call them, in secondary locations and they sell wine primarily in full and half cases. So the stores tend to be in wealthier areas I would guess. Revenue ...

Monks Investment Trust (MNKS) AGM 2013

Monks Investment Trust is a general international investment trust but rather than being a closet index tracker it has a portfolio of somewhat diverse companies. In other words it is very much a “stock picking”, bottom-up approach with lots of “special situations”, undervalued opportunities, bets on future growth and other stocks in what it calls “a relatively concentrated” portfolio. But it still has a lot of holdings. The fund is managed by Baillie Gifford based in Edinburgh, with Gerald Smith having ...

NATIONAL GRID plc (NG.) AGM 2013

It was an afternoon meeting, at 2:00 pm at the ICC in Birmingham. The large conference hall was full of shareholders. This company has a revenue of £14.4 billion (£13.8 billion in 2012) from assets of £33.7 billion and reports profits of £3.75 billion (£3.54billion 2012). The dividend is 40.85 pence this year, up 4% on last year and giving a yield of 5.3% on yesterday’s price of 770p. It is a company with over a million shareholders of whom 274 ...

Halfords (HFD) AGM Report 2013

On the 30th July, Halfords held their Annual General Meeting at a hotel near the NEC in Birmingham. The Annual Report is a good example of how to communicate with shareholders about what the company does. Unusually the Chairman (Dennis Millard) is seen peddling a racing bike, the new CEO (Matt Davies) on a mountain bike, the Finance Director under the bonnet of a car and other directors camping. There were about 15 shareholders present at the meeting, more than last year. ...

Grafenia (formerly Printing.com) (GRA) – AGM Report 2013

Their were six shareholders present at the AGM held at the Premier Inn, Trafford Park, Manchester on Friday, 19 July 2013 at 10.00 am apart from the board members present. The meeting was opened by Mr Les Wheatley, the non executive chairman, who introduced the other board members present then moved on to the Ordinary and Special Business Resolutions. These were passed unanimously by both proxy votes and a show of hands with the exception of No9, which was for the authorisation ...

RENSBURG AIM VCT (UAV) PLC 2013

Apart from the directors and others associated with the company there were two shareholders present together with David Blundell, a director of Sharesoc, who was proxy on behalf of another shareholder. The chairman Mr Battersby opened the meeting with a short introduction followed by the resolutions all of which were passed by a significant majority although on the show of hands Mr Blundell voted against the reappointment of the directors as per proxy instructions. The meeting was then opened to the floor ...

Paypoint (PAY) AGM Report 2013

On the 24th July I attended the Annual General Meeting of Paypoint at their offices in Welwyn Garden City. Their offices are in a modern office block and they were quite smart with open plan offices for their call centre staff (who support the large number of retail customers). I was the only ordinary shareholder present, but all the directors were present except for one. Paypoint has a retail network of terminals in the UK, Ireland and Romania that process utility payments, ...

Findel’s (FDL) AGM Report 2013

What a difference a year makes. At last year’s AGM of Findel, one of the UK’s biggest home shopping groups with 1.3m customers, its directors refused to be pinned down on the timing of its long promised turnaround. Its shares, which had been trading over £7 in 2007 were bouncing around the 3p mark and only seemed of interest to penny share punters. The market’s refusal to believe in Findel’s turnaround story last year was highlighted by the fact that its shares ...

Vodafone (VOD) AGM Report 2013

I was going to attend the Vodafone AGM today in the City of London in person, but I discovered the night before that they were providing a video broadcast of the event. As the weather was forecast to be hot and humid, I did not have any questions, and there was another ShareSoc board member attending anyway, I decided to access it by video. That worked well up to point. I doubt that many readers need to be told what this company ...

British Smaller Companies VCT (BSV) AGM Report 2013

British Smaller Companies (BSV) is a Venture Capital Trust with a moderately good long term performance record – 4.3% per annum total return since formation in 1996 according to Allenbridge, and with a current yield of 7.8% according the AIC (tax free dividends in this case of course). The main issue at this company is a management incentive performance fee based on dividends paid out. This is what I wrote to the Chairman, Helen Sinclair, back in July 2012, prior to the ...