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Transparency and Trust – Consultation Response Submitted

ShareSoc is submitting a response to the BIS Discussion Paper on “Transparency & Trust” which can be read here:  www.sharesoc.org/Transparency_&_Trust_ShareSoc_Response.pdf . This wide ranging consultation is on a number of proposals to tackle many problems in the modern corporate scene, with a particular focus on tax avoidance and money laundering. Knowing who controls and owns companies is one of the concerns, but it also aims to tackle incompetent and fraudulent directors. A summary of the key points ShareSoc made in our ...

The Vodafone deal – another reason to dislike nominee accounts

Vodafone shareholders will no doubt be aware that the deal recently announced regarding the company’s stake in Verizon Wireless will result in shareholders receiving not just cash, but also some Verizon shares. Verizon is of course a US listed company. Now many retail shareholders may not wish to hold shares in a US listed company, so they might want to sell their Verizon shares. The company has said that they will provide a dealing facility to enable holders of less than 50,000 ...

FT article on dematerialisation

The Financial Times published a long article by Jonathan Eley entitled “What price shareholder democracy?” on Saturday. It was in the FTMoney supplement and covered the issue of nominee accounts, dematerialisation and prospective EU legislation. Mr Eley covered most of the issues well but here’s a note I have sent him to explain a few points.Dear Jonathan,Regarding your article at the weekend on shareholder democracy and nominee accounts, which was generally very sound, a few points:1. Not all listed companies like ...

Vodafone deal details now available, and most are pleased

Vodafone have now published the details of the deal to sell their stake in Verizon. I won’t repeat the details here but most investors seem pleased with it. That includes ShareSoc director Stan Grierson who got a few seconds on BBC News explaining how we will now be able to afford more space on airlines for his long legs – you can see a more useful and longer video interview here: www.bbc.co.uk/news/business-23936013 Although the deal is being applauded as a major cash ...

Vodafone and Verizon – how will they use the cash?

ShareSoc has issued a press release on the likely deal for Vodafone to sell its stake in Verizon Wireless (see www.sharesoc.org/pr50vodafone.html). This might realise over US$100bn in cash so the key question is what the company will do with it. Will it waste it on other acquisitions or return it to shareholders? And in the latter case in what form? Vodafone is a company that appears to love share buy-backs like many FTSE-100 companies. But ShareSoc suggests that it would be better ...