Recent news
Continuing its investigation into the quality of the top 100 AIM companies’ annual reports, the UK Shareholders’ Association finds uncertainties in the Abcam report and an astonishing but unexplained waste of shareholders’ money by Hargreaves Services’ directors.
“It is time institutional investors took a firmer grip on buyout mania.” So wrote John Plender, a senior Financial Times writer, in a recent article to be found at http://www.ft.com/home/uk under ‘buyout mania’.
Shareholders are starting to wake up to one of the more crass aspects of performance targets for directors’ pay. Thomas Cook highlights a regulatory failure already seen with Persimmon.
Persimmon has announced an acceleration of its Capital Return Plan, but shockingly, made no mention of the resulting acceleration of zero-cost options now estimated to be worth £500million to management. With options previously vested the total becomes £600million. The Finance Director alone will receive £72million.
If Tissue Regenix Group is to survive it will soon need more cash. Despite share price performance since listing on Nasdaq, GW Pharmaceuticals directors appear to have been overpaid.
UKSA's review of the paper is all too revealing of the fact that the intermediate shareholding model cannot be relied upon to facilitate the shareholder engagement that the government wishes to encourage.
The FRC is responsible for promoting high quality corporate governance and reporting. The UK Shareholders’ Association wants private investors to be given more opportunity to contribute to this.
The UK Shareholders’ Association (UKSA) is pleased to provide access to the latest newsletter from the International Accounting Standards Board (IASB). Read more to find the link.
DSW, the German shareholder protection association, gave a TARGET=_blank>detailed account of the current situation and the means by which individual shareholders can seek redress.
There are two potentially viable routes for seeking redress:
The UK Shareholders’ Association (UKSA) believes that the time has come to expose AIM companies’ reporting practices, good and bad, to public scrutiny. We have begun with ASOS and Ithaca Energy, top and bottom of the AIM 100.
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