Individual investors expected to join ShareSoc’s new requisition for a shareholder committee at the Royal Bank of Scotland
As last year, ShareSoc will be requisitioning a resolution for a Shareholder Committee at the 2018 RBS AGM – This year’s resolution addresses the trivial legal objections previously raised by RBS. ShareSoc is confident that RBS will be obliged to put the resolution to the AGM- ShareSoc is rallying its four thousand members and is writing to members of the UK Shareholders Association to garner support for this initiative
In 2017, RBS rebuffed ShareSoc’s first attempt to requisition a shareholder resolution, hiding behind tenuous, expensive legal arguments. ShareSoc Director and Campaign Manager Cliff Weight said “This year, we are hoping RBS will engage with us and work constructively in developing an improved corporate governance framework. Since ShareSoc first engaged with RBS in December 2016, there have been several positive developments which we recognise and applaud, but there remains much more to be done on shareholder democracy”.
Weight has good reason to be optimistic – within days, ShareSoc has already received hundreds of replies from investors eager to join the campaign.