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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Aminex (AEX) AGM Report 2012

Introduction I attended Aminex’s AGM on 16th May. It was held in central London at the convenient time of 11am. Around 15 shareholders attended, including djpreston, representing Aminex’s largest shareholder, European Wealth Management (formerly Aventus Capital), as well as various other familiar faces. Brian Hall chaired the meeting, beginning with formal business, followed by a presentation from new CEO Stuard Detmar (formerly, highly successful CEO of Sibir Energy, which he ultimately sold to Gazprom to the considerable benefit of shareholders). He offered apologies for absence from Derek Tughan, ...

Premier Oil (PMO) AGM Report 2012

Introduction The AGM was held at the shareholder friendly time & venue of 11am at the IoD in Pall Mall. It was well attended by ITRO 70 shareholders, and was a lively and productive meeting (with refreshments afterwards for those able to stay). Premier’s 2011 Annual Report (AR) can be found here: http://www.premier-oil.com/premieroil/uploads/reports/reports/PremierOil_AR2011.pdf Pre-Meeting Firstly , I spoke to CEO Simon Lockett (SL) about the deal with Encore’s team, via the vehicle “EnCounter”, that was announced in yesterday’s IMS. The deal is that Premier will share its substantial North ...

Kentz (KENZ) AGM Report 2012

So far as I could see, I was the only ordinary shareholder who attended the Annual General Meeting at Kentz Corporation Ltd today (it’s not a Plc because it is registered in Jersey even though it is now a FTSE-250 company – this is for tax reasons according to one of the directors). I am a fairly new shareholder in this company which claims to be a “specialist solutions provider, primarily to the oil and gas services sector” according to the Annual ...

Kings Arms Yard VCT PLC (KAY) AGM Report 2012

Kings Arms Yard is a Venture Capital Trust that was formed on the 30 September 2011 after a merger with Kings Arm Yard VCT 2 PLC. Looking at Kings Arms Yard (KAY) alone over the last few years before and then discounting the merger things have not gone well, going from a NAV of 41.6 in 2007 to 16.7 at end 2011 with the shares trading at 45% discount to this. I attended the Annual General Meeting of the company on the ...

Toumaz (TMZ) AGM Report 2012

Here are my notes from the AGM. Chris Toumazou, Mike Hirschfield, Patrick Stephanson and Martin Knight were present from Toumaz. There were about a dozen or so private investors, and analysts from brokers. One lady PI took the board to task about the lack of attendance by non-execs calling into question the strength of governance. Chris T defended the company's position by saying that they have transferred the company registration from The Cayman Islands to England, and the only non-exec who could attend but ...

Amlin (AML) AGM Report 2012 – surviving catastrophes

Yesterday I attended the Annual General Meeting of Amlin Plc at their offices in the City of London. Amlin is a general insurer and reinsurer. With significant exposure to catastrophe events, last year was not uneventful – Japanese tsunami, major earthquakes in New Zealand, US tornados, to name just a few events which resulted in very large claims. The result was a “combined ratio” of 108% and an overall loss for the year. There were about 100 shareholders present. The meeting was ...

HG Capital Trust Plc (HGT) AGM Report 2012

Summary In this report I cover: Background information on HGT, its modus operandi and my investment rationale Attendance and environment of the AGM A presentation delivered by HgCapital CEO Nic Humphries, and questions thereon Corporate governance matters at HgCapital Trust Formal Business of the Meeting Background HG Capital Trust Plc (LSE:HGT) is the UK’s best performing private equity (PE) investment trust over a 3, 5 and 7 year timeframe. Over 10 years, it has earned investors a 15.7% annual compound TSR. I have been ...

Petrofac (PFC) AGM report 2012

Petrofac designs, builds and maintains oil and gas installations. Their Annual General Meeting (AGM) was held in the West End of London on the 11th May. There was a good attendance of about 100 people, although a lot of them seemed to be Petrofac staff who did mingle both before and after the meeting with shareholders. The Chairman, Norman Murray, who is relatively new to the job, commenced by covering the main points of the morning’s “Interim Management Statement”. They expect revenue ...

Aviva plc (AV.) AGM Report 2012

The Aviva Annual General Meeting has produced a substantial and deserved reaction all over the media and the financial world. It was my pleasure to attend and to speak. l was also invited to a TV interview “before and after” the meeting by one of the commercial channels. This was cancelled at a late stage. It is my belief that AVIVA, correctly expecting a hostile reaction, and being a big advertiser, used their muscle to stop it. It was also noticeable ...

Statpro (SOG) AGM Report 2012 – A company in transition

On the 2nd May I attended the Annual General Meeting of Statpro Group (SOG) in deepest suburbia (at their offices in Wimbledon to be exact). Not the easiest of places to get to from where I live. Statpro provides portfolio analysis software to investment institutions – for example for fund managers to do performance analysis. Revenue was £32m last year and is forecast by analysts to be much the same in the current year with flat earnings per share. Revenue actually ...