Since UKSA’s policy team first questioned this scheme, further work has been done and a detailed analysis given to the UKSA board . This shows just what an extraordinary scheme this is and a mystery why the major shareholders supported it.
Persimmon has dreamed up a generous new scheme for incentivising its underpaid and overworked directors. Nice work if you can get it!
Yesterday, UKSA asked BAE Systems’ directors to use their power to put pressure, both private and public, on all nominees on its share register to ensure that all their clients are fully informed about the proposals and able to instruct their nominees how to vote. UKSA has now written to the Takeover Panel, the body responsible for ensuring that the proposed merger is conducted fairly and in a principled way. The Panel’s publicly declared task is to supervise and regulate all matters to which the City Code on Takeovers and Mergers applies.
UKSA has sent letters to Dick Olver, BAE Systems chairman and to Sir Peter Mason KBE, its senior independent director, calling upon them to take whatever action is necessary to ensure that private investors in BAE using nominee accounts are enabled to vote on the proposed merge with EADS.
"Do you own the shares you bought"? "Yes of course I do"!, you say. But do you really? If like most people your shares are held in a nominee account, ISA or SIPP the answer is you probably don't. You are the beneficiary but not the legal owner! To find out more:
A new website has been created to campaign against executive greed. An issue which UKSA very much supports.
Responding to Vince Cable’s proposals for new reporting regulations on Directors’ Pay, UKSA’s points out that they take no account of the Kay Review, yet that Review was commissioned by Vince Cable himself.
UKSA is among a number of investor bodies seeking changes in audit practice in order to bring about better protection of investor interests.
Calling all former Northern Rock Depositors
It is almost 5 years since our TV screens and newspapers were filled with pictures of the queues outside Northern Rock branches.
There is a building media interest on how the past 5 years has worked out for those involved in the ‘Rock' whether they be employee, shareholder, depositor or even all three. BBC Newsnight are looking to speak to former savers in Northern Rock who stood in those queues five years ago to look at how the last 5 years as turned out for them in the aftermath of the credit crunch.
Dennis Grainger, campaigner and lead plaintiff for the Rock small shareholders in the fight for fair
compensation, says that 150,000 small shareholders will be shocked, baffled, startled and angered
by the sad and strange ‘Decision’ (not a ruling) of the European Court of Human Rights (ECtHR).
Vist Action Groups / Northern Rock on this website for details of the latest setback to the campaign for fair compensation for shareholders.
Renewing your UKSA membership is quick and easy, ensuring uninterrupted access to all the advantages of membership.
