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Letter in the FT on Pre-Packs

The Financial Times published a letter from me on Pre-Pack administrations and their abuses today - see: https://www.ft.com/content/f9d55388-2109-11e7-b7d3-163f5a7f229c . More will be in the latest ShareSoc Informer Newsletter which is about to be published. Roger Lawson

Hornby, BHP Billiton, Pan African, and Share Radio

A few items of miscellaneous news worthy of comment: Investor Alexander Anton has launched a campaign to have Chairman Roger Canham removed from the board of Hornby (HRN) and get himself appointed as director. A requisition for a General Meeting of the company has been submitted accordingly. Hornby, the maker of train sets and toys, has had a poor financial performance in recent years with production difficulties, consistent losses, and a turnaround plan that is not obviously working. Mr Anton was ...

RBS AGM Voting Recommendations

ShareSoc has today issued the following press release giving voting recommendations for the Annual General Meeting of the Royal Bank of Scotland (RBS): ShareSoc recommends voting against the following resolutions at the Annual General Meeting (AGM) of RBS: 2 Remuneration Policy, 3 Remuneration Report, 4 Chairman Howard Davies, 12 NED Penny Hughes and 24 General Meetings at 14 day notice. RBS have continued to resist our request for a shareholders’ resolution to be put to the AGM for the establishment of a Shareholder ...

BP – Pay Cut or Downward Discretion

I seem to be spending a lot of time talking about pay at companies of late. It would be better if we could concentrate on more important matters, like their strategy, the lack of productivity in UK companies, how they are revising their plans to cope with Brexit and exchange rate changes, and all those other matters that affect shareholder returns. But it seems everyone wants to talk about pay. So here's the latest story. The BP Annual Report has been published ...

Perverse LTIPs and Alliance Trust (ATST)