RE: Upbeat review of business28 Sep 2021 23:03
I am a little curious as to AR’s standing within the Co. as a result of today’s manoeuvres.
Personable chap that he is in the traditional city “wide-boy” image, call me old-fashioned but I find it unprofessional for a chairman to attend a formal agm without troubling to wear a tie!.
That said, I found it unsettling that a massive 90 million proxy votes were registered against re-electing him as a director, against 150 million for. This is not your ordinary share-holder expressing discontent, this must be the Institutions, and it does not feel like a vote of confidence.
And so it came to pass, that a mere one hour before the start of the agm the proverbial curly finger was exercised, summoning our leaders to the capital for further discussion.
I do love the gloss put on the explanatory rns, “ This decision was made following dialogue with institutional shareholders and demonstrates the Board's willingness to consider feedback and act accordingly.”
I get the impression patience is wearing thin with some of the IIs and the moribund SP performance.
I wonder whether AR’s position may come under some pressure near-term. Or I may be barking up the wrong tree?