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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Unilever (ULVR) AGM Report 2013

Unilever plc, with its other half Unilever NV being in the Netherlands, has a split set of AGMs. This year’s “plc” meeting was held at the QEII Conference Centre at 3pm to allow the “NV” meeting to take place in Rotterdam in the morning, with the Chairman and others attending both meetings and a race for aircraft to make it work. This issue, following a question from the floor, is being discussed by the board in an attempt to produce a ...

RSA Insurance Group (RSA) AGM Report 2013

This year’s meeting was held at 200 Aldersgate near St Paul’s. The highlights are taken from an Annual Report beautifully produced but almost impossible to interpret, including sixteen pages of gobbledegook masquerading as a directors’ remuneration report. Insurers do not work with simple figures like turnover and profits, but RSA gave out a headline 5% increase in Net Written Premiums, being 3% growth as reported (using the figures of £8,353m and £8,138m I make that 2.64%). The other important figures are: Combined ...

Amlin (AML) AGM Report 2013

This was the second year running I had attended the AGM of insurance company Amlin, held in their offices in the City of London. You can read last year’s report here and it was headed “Surviving Catastrophes” with good reason because the 2011 year’s results were fairly dire due to too many earthquakes, floods, cyclones, tornados, etc. Yes Amlin is heavily exposed to catastrophe insurance and hence their financial results are somewhat unpredictable. But last year the world was quieter, and ...

Delcam (DLC) AGM Report 2013 – Pay again an issue

I made the long trek to Birmingham yesterday for the Annual General Meeting of Delcam. This AIM-listed company is one of the world leaders in the CAD/CAM software market, mainly selling to engineering companies but also into other markets where specialist design and manufacturing is required. The last time I visited this company for their AGM was in 2011 and a report on that was published in one of the early ShareSoc newsletters. It’s in the May 2011 edition if anyone ...

AFC Energy (AFC) AGM Report 2013

Introduction Nice to have an AGM at an unconventional location: AFC’s on 12th April was held in a suite at the premises of its latest investor, Roman Abramovich, i.e. at Chelsea FC. I was pleased to see that the AGM was well attended with approximately 30 shareholders present. It was also pleasing that the whole Board attended. I have not met with AFC management since attending a presentation at their premises in Dunsfold Park in 2010. There have been many RNSs since then but very little clarity ...

HG Capital Trust PLC (HGT) AGM Report 2013

Today I visited central London to attend the Annual General Meeting of HG Capital Trust PLC at their offices next to Tower Bridge and HMS Belfast. HG Capital is a mid-market (£20-500 million) private equity firm with £5.6 billion of client assets under management, focused primarily on Northern Europe. HG Capital focuses on the healthcare, industrial, services, tech/media/telecom and renewable energy infrastructure sectors as opposed to focusing on a particular region but across all sectors. HG Capitals share price has risen over ...

BAE (BA.) AGM Report 2013 – Olver’s swansong disrupted by political activists

This morning BAE Systems held it’s Annual General Meeting in a converted hangar in Farnborough - the location of the company’s headquarters of course. There were probably about 300 shareholders present, but as many as a third of them seemed to be protestors unhappy with the company’s activities – and mainly of the view that weapons kill people and the company should be a lot more careful about what they sell and who they sell them to. Before commencing the meeting, shareholders ...

GlaxoSmithKline (GSK) AGM 2013 – a subdued affair

It was an afternoon meeting, at 2:30 pm in the Queen Elizabeth 11 Conference Centre, with a somewhat smaller audience than I have seen in earlier years. This is one of our biggest companies, with a turnover this year of £26.4bn (£27.4bn) and a total profit declared at £7.4bn (£7.8bn). We note with some approval that executive director’s remuneration was down from £11.4m to £8m to £16.2m and total directors’ remuneration from £16.2m to £10.7m, and the latter two figures each ...

SDL (SDL) PLC AGM Report 2013

Today I attended the Annual General Meeting of SDL PLC at SDL’s offices in Maidenhead, Berkshire at 1pm. SDL PLC is a provider of information management solutions with 70 offices in 38 countries with revenues last full year at £270 million. SDL PLC has issued profit warnings in the recent past and the share price has dropped from a high in Jan 2012 of £7.56, today it trades at £3.61. With this performance you would expect at least an interesting AGM, ...

EMIS (EMIS) AGM Report 2013

Today I visited the grimy suburb of Leeds named Yeadon to attend the AGM of EMIS Group Plc at their newish head office – actually the area is on the nicer side of Leeds and the office was reasonably smart although I would guess it’s a 1960s refurbished office block. EMIS sell software to the NHS, primarily to G.P. practices under a “framework agreement” (GPSoc). Effectively prices are negotiated centrally and then actual purchases placed by Primary Care Trusts (PCTS) under a ...