UK - Four shareholder meetings are worthy of note in the week starting January 14, according to corporate governance specialists Institutional Shareholder Services (ISS).
Publisher Euromoney holds its AGM on January 23. ISS says Euromoney's chairman and managing director have two year rolling service contracts, exceeding the Combined Code's recommended one-year limit. The majority of the board’s non-executive directors are not independent, the audit and remuneration committees each comprise only one independent non-executive director, and the board has not identified a senior non-executive director.
M&G Investment Management holds 4.8% of Euromoney’s issued stock, Invesco 2.9% and UBS 2.1%.
At its AGM on January 23 software and computer services firm RM seeks shareholder approval for its remuneration policy. Fidelity is the company’s largest shareholder with 7.7% of the issued stock. Standard Life Investment Management has 5.5% and Chase 5.1%.
Engineering firm Howle holds its AGM on January 24. The roles of chairman and chief executive are combined at Howle. 3i Asset Management controls more than a fifth of the company.
Leisure firm On-line holds its AGM January 24. ISS says the company combines the roles of chairman and managing director. Northern Trust holds 2.6% of the stock and UBS 1.6%.
By Luke Clancy
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.