Please Sign the Sharesoc Petition_Give all shareholders a voice by bringing Company Law into the 21s23 Apr 2023 01:26
For hundreds of years, companies knew exactly who their shareholders were and could communicate freely with them on matters of importance. Today, they can't and that's wrong.
The increasing popularity of electronic trading and holding of shares using investment platforms has been a very positive development but, it has also placed an unacceptable communication block between share issuers and holders. This undermines the whole concept of capitalism by creating companies who are increasingly unaccountable to their invisible owners. The consequences of this are clear.
To correct this serious and uniquely British flaw in the efficient operation of capitalism, Marks and Spencer and ShareSoc have jointly written to Business Secretary, The Rt Hon Kemi Badenoch MP, urging the Government to modernise the Companies Act to allow electronic (ie digital) communication with and between shareholders and web-based access to AGMs and General Meetings*.
Please can you support this initiative by reading and signing the supporting petition to UK Government so we can ensure this important matter is given the attention it deserves.
Give all shareholders a voice by bringing Company Law into the 21st Century
Help more investors engage with UK plcs by modernising the Companies Act: Give beneficial shareholders the right to direct info on plcs they invest in & plcs the right to visibility of who their shareholders are, make email a requirement to shareholding registration, & recognise digital AGMs.
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Outdated legislation stops shareholder voices being heard. Almost half of individual shareholders can’t directly engage with the company they invest in, as they invest via platforms, the rest are constrained by a paper-based system. At the same time, companies are losing sight of who their investors are. Digital first reform will be better for shareholders, better for business and ultimately, better for Britain – making the UK a more attractive place to invest and to list.
Please click here to read and sign the petition.
https://petition.parliament.uk/petitions/636051
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