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PRACTICE NOTES
ARCHIVED: This content was published in 2017 and is not maintained. This trend report summarises the latest developments, changes and topics of interest to companies and their advisers when preparing for the annual general meeting (AGM). Here are the key changes at a glance: • pre-emption resolutions—companies should make sure resolutions reflect the template
PRACTICE NOTES
ARCHIVED: This content was published in 2018 and is not maintained. This Market Standards Trend Report analyses the latest market practice and trends emerging from the FTSE 350 annual general meeting (AGM) season 2018. Key topics in the report include: • an in-depth look at diversity disclosures in the annual report, encompassing both gender and ethnicity • analysis of the progress of the FTSE 350 towards achieving boardroom diversity targets • details of significant shareholder opposition to resolutions and the development of
PRACTICE NOTES
ARCHIVED: This content was published in 2019 and is not maintained. This Market Standards Trend Report examines the latest market practice and trends emerging from the FTSE 350 annual general meeting (AGM) season 2019. Highlights in the report include: • an in-depth look at board diversity statistics and disclosures, encompassing both gender and ethnicity • an assessment of significant shareholder opposition to resolutions and the development of public disclosures regarding shareholder dissent following the implementation of the Investment Association’s public register in December 2017 • a summary of market practice regarding Brexit disclosures, and • a
PRACTICE NOTES
ARCHIVED: This content was published in 2023 and is not maintained. Market Standards and Lexis+® UK Practical Guidance have conducted a detailed review of AGM voting and formats throughout the 2023 season. Drawing on the information contained in the Market Standards database, this report provides analysis of this season’s shareholder voting patterns, including trends within failed resolutions, significant no votes, and meeting format. It includes commentary throughout from Will Chalk, Partner, Ashurt, and concludes with some final thoughts from Wilma Rix, senior associate, Linklaters, on this year’s voting findings and trending issues for practitioners to watch out for during
PRACTICE NOTES
This archived user guide provides guidance and tips on using the Lexis+® UK Corporate’s AGM share capital authorities calculator (Calculator) which is suitable for use by both listed and unlisted public companies and AIM companies. It also includes several worked examples and example reports. A company is required by the Companies Act 2006 (CA 2006) to obtain the approval of its shareholders (by special or ordinary resolution) in order to authorise the directors to carry out certain actions in relation to the company's share capital. The shareholders of a public company will usually grant the relevant approvals annually at the company's annual general meeting (AGM) (which all public companies are required to hold). For details on AGMs, see: Calling an AGM—overview and Holding an AGM—overview. In addition to complying with the provisions of the CA 2006: • a company that has any class of its securities admitted to the Official List of the Financial Conduct Authority (FCA), as well as admission to trading on the London Stock Exchange (a Listed Company) is required to comply
PRACTICE NOTES
ARCHIVED: This archived Practice Note includes a link to a historical Market Standards Trend Report relating to investor voting at the AGMs of FTSE 350 companies in 2022. It is not maintained and is for background information only. What does the Market Standards trend report cover? Download a PDF copy of the Trend Report here. Market Standards has conducted a detailed review of AGM voting and formats throughout the 2022 season. Drawing on the information contained in the Market Standards database, this report provides analysis of last year’s shareholder voting patterns, including trends within failed resolutions, significant no votes, and shareholder dissent. The report also reviews the impact of the COVID-19
PRACTICE NOTES
This Practice Note summarises the law relating to the steps involved in preparing, identifying recipients and sending a notice of an annual general meeting (AGM). It covers the form and content requirements for notices and statutory minimum notice periods. It is suitable for use by both practitioners and company secretaries in relation to companies with equity shares listed on the Main Market of London Stock Exchange plc (listed companies) and companies with equity shares admitted to AIM (AIM companies). A public company must hold an AGM each year within the period of six months starting on the day after its accounting reference date. Detailed requirements as regards the convening and holding of an AGM are set out in the Companies Act 2006 (CA 2006). The CA 2006 imposes additional requirements on a public company which is also a traded company or quoted company. This covers listed companies, but not AIM companies. The CA 2006 also contemplates circumstances in which a private company can also be a traded company. Where this is the case,
PRACTICE NOTES
This Practice Note summarises the law relating to the steps involved in preparing, identifying recipients and sending a notice of an annual general meeting (AGM). It covers the form and content requirements for notices and statutory minimum notice periods. It is suitable for use by both practitioners and company secretaries in relation to private and unlisted public limited companies. A general meeting must satisfy certain requirements set out in the Companies Act 2006 (CA 2006) and the company's articles of association. These requirements include sending a notice of the meeting (which complies with the statutory content requirements) in the correct form to everyone who is entitled to receive it, and ensuring that sufficient notice of the meeting is given. Who is entitled to receive notice of an AGM Notice of an AGM should be sent to all persons entitled to receive it. Failure to give notice to those entitled to receive it may invalidate the meeting. Accordingly, identifying the persons entitled to receive notice is an important undertaking. The task will invariably be
NEWS
The Attorney General's Office (AGO) has announced that the Prime Minister, Rt Hon Rishi Sunak MP, has appointed Victoria Prentis as Attorney General of England and Wales and Advocate General for Northern Ireland. The AGO has said the Attorney General will oversee the work of the Law Officers Departments and carries out a number of functions in the public interest. On her appointment, Prentis has said: ‘One of my first priorities is to continue the government’s work in rebuilding confidence in our justice system, particularly with victims.’
NEWS
The Attorney General's Office (AGO) hosted a Venice Commission event in London, marking the institution's 35th anniversary. The event, organised with the Foreign, Commonwealth and Development Office (FCDO) and the Bingham Centre, focused on updating the Commission's Rule of Law checklist and addressing emerging legal challenges. Attorney General Lord Hermer KC emphasised the checklist's role in promoting international cooperation, while delegates from Council of Europe member states discussed responses to AI, migration and climate change legal frameworks. The event aimed to strengthen UK-European legal collaboration and support for international legal order.
AGR
GLOSSARY
Advanced Gas Cooled Reactor: A term used for the second generation of British Power Reactors, currently operated by EDF NGL. The fuel used in the reactor is slightly enriched uranium oxide clad in stainless steel tubes. The coolant is carbon dioxide and the moderator is graphite. The fuel is manufactured by Westinghouse at Springfields and is currently reprocessed in THORP.
NEWS
The European Parliament's Agriculture and Rural Development Committee (AGRI) has adopted new rules strengthening cross-border enforcement against unfair trading practices in agricultural supply chains by 44 votes to 1. The legislation requires mandatory information exchange between national authorities, enables ex officio intervention powers, and extends protection to cover buyers from third countries. Non-EU buyers must designate an 'EU responsible person' for regulatory compliance. The framework also allows cooperation between authorities on additional unfair trading practices beyond current EU law. The Committee will begin negotiations with EU countries following expected Plenary approval in September 2025.