Friday, 14 May 2010

Back to business - AGM results

The shareholders are revolting. Well, some of them.

Yesterday saw SIG lose the vote on its remuneration report, big-style, with a 66% vote against. It looks like the crunch issue was a 15% increase in salary for the chief executive.

A very near miss was Cookson, where the rem report scraped through with a vote for of just under 51%. Worth checking out the RNS statement on the result too - Cookson's IR people don't seem to be able to do percentages (the vote against was a bit more than 32%!). Hat-tip: AM.

Looking back to last week, Xstrata saw a majority of non-Glencore (controlling shareholder) votes go against the rem report. I also think the votes against and abstentions on the chair's election are just over 50%. One to keep an eye on.

Lloyds meanwhile has done the worst of the banks (so far) in terms of the vote on the rem report (8.5% against) which I find a bit surprising. There were bigger issues at Barclays IMO.

If anyone spots any other interesting results, let me know and I'll bung them up.


Mark Still News said...

Hi Tom

Do you have any share tips that might take off soon?


Tom Powdrill said...

My tip is buy low, sell high.