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Text size [+][-]  Thursday March 18 2010GLOBAL EDITION

Feature
13 Aug 2009 16:01

Letter to the Editor

Context News

Paul Myners has written to Breakingviews.com outlining new proposals for the reform of shareholder voting rights.

The UK Financial Services Secretary is suggesting that companies issue non-voting stock on a 1-for-1 basis to existing shareholders, enabling investors to re-weight their holdings according to their appetite for participating in company votes.

Breakingviews.com took issue with an idea floated by Myners on August 10, that shareholders should be allowed to sell their voting rights to fellow investors. Earlier this month, the former fund manager suggested creating different classes of voting rights to reward long-term shareholders.

RELATED STORIES

The UK City minister responds to Breakingviews.com’s concerns about making shareholder votes tradable. Lord Myners has a new proposal for improving shareholder stewardship – letting investors divide themselves into voters and non-voters though a 1-for-1 issue of non-voting stock.

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