Index October 2004
Comment
EU faces tough challenge tackling
investor rights
Richard Northedge
Everyone has rights nowadays – women, children, animals
– and now the European Union has emerged as the champion of that other repressed
group, investors. More >>
Governance
Manifest's Voting Season Review
Dissent at meetings declines
Early analysis by Manifest of the votes cast at all this year’s shareholder
meetings in the FTSE All Share has shown that five resolutions to approve the
remuneration report have been defeated as compared to only one the year before.
More >>
European shareholder rights
EU Commission launches consultation
The European Commission has launched a consultation on shareholder rights at
company general meetings and improving the exercise of these rights,
particularly voting, across borders. More >>
British Energy
Polygon backs down from fighting restructuring
Polygon Investment Partners, which had requisitioned an
EGM calling for a renegotiation of British Energy's restructuring agreement, has
said it will oppose the resolutions at the meeting on 22 October and it will no
longer oppose the restructuring. More
>>
Pre-emption Rights
Bioscience industry calls for more flexibility
The Department of Trade and Industry has appointed Paul Myners, chairman of
Marks & Spencer and author of
reviews of institutional investments and proxy voting, to head a new study. This will examine
whether or not the current application of pre-emption rights when new shares are issued hinders companies from raising finance to
innovate and grow their businesses. More >>
Director and auditor liability
Bill amendments proposed
The government is proposing amendments to the
Companies (Audit, Investigations and Community Enterprise) Bill which it
said will relax the current prohibition on companies exempting their
directors from, or indemnifying them against, liability.
More >>
Berkeley Group
Shareholders back restructuring plan
Berkeley Group
has received shareholder backing for its move from being a traditional
housebuilder to a company focusing on larger scale complex regeneration
projects with the approval of the scheme of arrangement that will return up
£12 per share over the next six years to shareholders.
More >>
GovernanceMetrics International
US leads on corporate governance standards
Corporate governance research and ratings agency,
GovernanceMetrics International (GMI), believes that the US - whose companies
have the highest average overall rating - has made significant improvements
because of the enactment of the Sarbanes Oxley in 2002. More >>
Review of mutuals governance
Independence voice on the board is emphasised
Using the Combined Code as a corporate governance standard for mutually-owned
life assurance companies gained the support of respondents to the consultation
for Myners review of the governance of mutual life offices which ended last
month. More >>
OECD
Recommendations for employee stock options
The Organisation for Economic Co-operation and
Development (OECD), has issued a series of recommendations designed to achieve a
common interpretation of how tax treaties apply to employees or directors who
receive stock-options as part of their remuneration. More >>
Feature
Workplace stress
The impact on your bottom line is just the start
Carole Spiers, business stress consultant at the Carole Spiers Group, an
international stress management and employee wellbeing consultancy, explains why
companies should not ignore the impact of workplace stress.
More >>
Governance in brief.....
Radio companies agree merger
deal
The boards of Capital Radio and
GWR have agreed the terms of an all-share
merger, to create the UK’s leading commercial radio group.
More >>
CSR in brief.....
More progress needed on sustainability reporting
A global survey by the Association of Chartered Certified Accountants (ACCA) and
CorporateRegister.com has found that businesses worldwide are failing to produce
enough sustainability reports, while governments are doing little to encourage
such reporting. More >>
Conferences
Topical governance and CSR-related conferences.
More >>
October 2004
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