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.

If you are already a full member and are still having any difficulty accessing our reports, please contact the ShareSoc Office.


Ultra Electronics (ULE) AGM Report 2013 – attendance way up!

Yesterday I attended the AGM of Ultra Electronics, a specialist manufacturer of high technology equipment, mainly for the defence sector (60% of their business), but also active in the security, transport and energy sectors. The meeting was held at 10 a.m. at the company’s offices on an industrial estate in Greenford (in the outer suburbs of London for those not familiar with the area, and not particularly easy to get to, particularly via public transport). I did not expect many ordinary shareholders ...

Drax Group plc (DRX) AGM Report 2013

Fiftythree people attended the meeting held in the Grocers’ Hall, Princes Street EC2. It was started on time at 11.30am by Charles Berry, Chairman. Amazingly to me a number of untidy people had gathered outside to protest noisily against Drax’s business, which, as the biggest electrical power supply unit in the land, is also the biggest consumer of biomass. They had no alternatives to suggest. The Drax power station was opened in 1974 as part of the Central Electricity Generating Board, privatised ...

Barclays PLC (BARC) AGM 2013 Report

I attended the Annual General Meeting yesterday of Barclays PLC at the Royal Festival Hall, London at 11.00 am. The meeting was well organised with clear directions from local transport links, a very professional display in the entrance hall showing the future direction and past glories of Barclays, drinks were laid on for shareholders and a very relaxed atmosphere was encouraged. Makes me wonder how much that all cost! The AGM started promptly with approximately 750 shareholders present and commenced with a short ...

Elementis (ELM) AGM Report 2013 – a surprisingly bad performance from the Chairman

Elementis is a FTSE-250 speciality chemical company – selling surfactants, rheology products to control viscosity/thickness and chrome chemicals. Revenue was $757m last year, and profits were $107m. ShareSoc raised the issue of the change to the Articles of Association of this company in our last newsletter, and here is what was said then on one aspect of them: “They are mandating that in future all resolutions shall be determined by a poll. In other words the traditional “show of hands” vote will no ...

RM (RM.) AGM Report 2013

RM held their AGM at 9.00 am today at their offices near Abingdon – yes I complained about the time last year but they have not taken any notice. As a result there were very few (three or four) ordinary shareholders who turned up for it. In addition the Chairman said he would take general questions after the formal business despite me advising him this was not best practice last time, so that was yet another reason for voting against his ...

London Capital Group (LCG) AGM Report (Copied from over at the Motley Fool by the author)

Yesterday I attended the LCG AGM together with Carmensfella. It was my first ever appearance at an AGM so I wasn't really sure what to expect. I was a little surprised to find that Carmensfella and I were the only two non-board/advisors who turned up! I decided to play Robin to Carmensfella's Batman and let him handle most of the questioning (especially the difficult questions that made the board squirm!) and largely took notes. Here's a summary of what was said ...

Rio Tinto (RIO) AGM Report 2013

I attended the Rio Tinto AGM on 18/4/13. There was no problem registering ahead of the 11 am start, and I voted as my proxy appointer requested. I left at 1.30 pm as I had another meeting to go to and it was still going on; I suspect it was going on for most of the afternoon as there were so many questions from the floor – mostly complaints about the losses, increase in Director remuneration, the acquisition of Alcan (and ...

Asian Total Return Trust (ATR) AGM Report 2013

You can always tell an underperforming investment trust – they keep changing name. And one example is Asian Total Return Trust which used to be called Henderson Asian Growth Trust (when growth did not keep pace with its reference indices), and before that Henderson TR Pacific. The changes reflect changes of investment policy and the fact that Henderson were fired recently as the fund manager and replaced by Schroders who already run a similar fund which has demonstrated good performance. If you ...

Spectris (SXS) AGM Report 2013 – after disappointing news

On Friday Spectris Plc (SXS) issued an Interim Management Statement, which was unfortunate timing in some regards as their AGM took place later the same day. The statement reported that sales had fallen by 8% in the first quarter (excluding the impact of the sale of the Fusion UV operation). Weakness was reported across all regions and segments. But the “opportunity pipeline remains strong” with revenue growth still anticipated during the year, “albeit at a more moderate rate than previously anticipated”. The ...

RIT Capital Partners Investment Trust (RCP) AGM Report 2013

I attended the AGM of the RIT Capital Partners Investment Trust (LSE:RCP) this morning. I have held RCP (in varying sizes) since 2002 and over that timeframe the investment trust has delivered well on its objective of capital preservation and growth. This morning's AGM was held at 11am at Spencer House, St James Place, London, an historic property that the trust owns. The (substantial) room chosen for the meeting proved rather small for the 60+ attendees, and a video link to an adjoining ...