RE: Bringing Company Law into the 21st Century1 May 2023 09:59
Morming Jiffy
Thanks for link short and sweet and straight to the point. Totally agree company law sould be changed/updated to 21st Century. Communications digitally should be supported by post where necessary. There's no excuses now for not talking direct to investors or collectively obiviously without taking up too much of Companies time etc. This is the easy bit in changing company laws. Personally I would just put it under PR/investor relations every three months to be mandatory via investor website portal.
The most important change to Company Law is the involement of Nominee accounts and system. The digital age doesn't require Nominee's. This is the dark horse here and the 3% thresshold. You will we told Nominee is needed to reduce time/bureaucracy and protect investor ( price fixing) hence why they are in place. As a company doesn't have time/manpower to deal/communicate in share dealing and not FCA registered to do so.
Will the Nominee system change, it will be a big fight if they let it as the amount of money these Nominee's make is mind blowing and they never seem to lose.
1 vote per share or block direct digitally should be the way forward.
Furthmore no CEO should hold more shares than the investors unless said CEO is founder. Any new CEO/management team's share purchases should be held in trust and kept seperatley to avoid miss selling/shorting/dumping.