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Sustainable Finance Action Plan

ShareSoc welcomes the actions proposed by the European Commission which should bring about more transparency for investors and favour sustainable long-term value creation for end-investors and savers. ShareSoc is...

Aviva Preference Shares: Write to your MP!

Please write to your MP requesting that a Parliamentary Select Committee investigate Aviva’s action. The Financial Times published a joint letter from Peter Parry of UKSA and Cliff Weight of ShareSoc, highlighting our concerns. The suggested wording of a letter/email to your MP is as follows "Dear xxxx, A Parliamentary Select Committee should investigate Aviva’s actions which have sullied the reputation of the London Stock Exchange and may cause financial losses running into billions for many individuals. The issues are highlighted in a joint ...

Alliance Trust, Katherine Garrett-Cox and Perverse LTIPs

I have previously commented positively on the outcome of the “revolution” that took place at Alliance Trust (ATST) as reflected in their latest accounts which were recently published. That revolution resulted in the departure of former CEO Katherine Garrett-Cox who resigned in February 2016. The latest Annual Report shows that she is still being paid large amounts though. For example, total “single figure” remuneration for the 2016 calendar year is given as £1,305,000 and was £832,000 for 2017. She is likely to be ...

RBS, Shareholder Committees, LTIPs and Weir

It is good news that the Royal Bank of Scotland (RBS) have accepted a requisition for a resolution on a Shareholder Committee at their forthcoming AGM. ShareSoc and UKSA, who jointly promoted this under the leadership of Cliff Weight have issued a press release confirming the resolution has finally been accepted after some legal evasions to try and avoid it. Shareholder Committees are a way to improve corporate governance at companies and ensure that the views of shareholders (and potentially other stakeholders) ...

Conviviality

It is a great name for a bar, but is a fancy name good for a quoted conglomerate plc? The shares were suspended on 14 March. The FCA and FRC need to look at this and asset managers need to think again why they missed the warning signs! Shares in the wholesaler and distributor of alcohol and impulse are now suspended as it considers the anticipated impact on its funding position of £30m due to HMRC. This business has looked questionable since ...