1-12 of 12 results for subject:Shareholders
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To ask Her Majesty’s Government whether they intend to legislate to introduce voting thresholds that empower shareholders in the operations of public companies in relation to executive pay.
To ask Her Majesty’s Government whether they intend to legislate to introduce voting thresholds that empower shareholders in the operations of public companies in relation to executive pay.
It has not proved possible to respond to this question in the time available before Prorogation. Ministers will correspond directly with the noble Lord.
To ask Her Majesty’s Government whether they will introduce a duty on shareholders of a significant size to address executive pay and company performance and increase those shareholders' reporting requirements to pension trustees.
To ask Her Majesty’s Government whether they will introduce a duty on shareholders of a significant size to address executive pay and company performance and increase those shareholders' reporting requirements to pension trustees.
It has not proved possible to respond to this question in the time available before Prorogation. Ministers will correspond directly with the noble Lord.
To ask Her Majesty’s Government whether they support annual executive pay votes by shareholders, and whether they intend to legislate to stop three-year votes on that issue.
To ask Her Majesty’s Government whether they support annual executive pay votes by shareholders, and whether they intend to legislate to stop three-year votes on that issue.
It has not proved possible to respond to this question in the time available before Prorogation. Ministers will correspond directly with the noble Lord.
To ask Her Majesty’s Government whether they intend to legislate to change non-binding shareholder votes in relation to executive pay in public companies to binding votes if they pass the 50 per cent threshold.
To ask Her Majesty’s Government whether they intend to legislate to change non-binding shareholder votes in relation to executive pay in public companies to binding votes if they pass the 50 per cent threshold.
It has not proved possible to respond to this question in the time available before Prorogation. Ministers will correspond directly with the noble Lord.
To ask Her Majesty’s Government whether it is their policy, in circumstances where more than 50 per cent of shareholder votes oppose executive pay awards, that the companies' boards should take note.
To ask Her Majesty’s Government whether it is their policy, in circumstances where more than 50 per cent of shareholder votes oppose executive pay awards, that the companies' boards should take note.
It has not proved possible to respond to this question in the time available before Prorogation. Ministers will correspond directly with the noble Lord.
To ask Her Majesty’s Government whether it is their policy that FTSE 100 executive pay is a matter solely for shareholders or also for a wider group of affected stakeholders such as pension holders, customers, and the customers of similar companies.
To ask Her Majesty’s Government whether it is their policy that FTSE 100 executive pay is a matter solely for shareholders or also for a wider group of affected stakeholders such as pension holders, customers, and the customers of similar companies.
It has not proved possible to respond to this question in the time available before Prorogation. Ministers will correspond directly with the noble Lord.
To ask Her Majesty’s Government whether they will consider giving the owners of Alternative Tier One instruments capital voting rights in banks which are approaching a contingent convertible conversion point.
To ask Her Majesty’s Government whether they will consider giving the owners of Alternative Tier One instruments capital voting rights in banks which are approaching a contingent convertible conversion point.
The Government does not have plans to propose changes to Additional Tier 1 (AT1) instruments. These instruments have been designed without voting rights for investors because it is necessary for issuing banks to have the capital readily available in times of stress. Introduction of voting rights before a bank reaches a trigger point could undermine the ability to quickly convert these instruments and secure the capital necessary to prevent additional stress.
To ask Mr Chancellor of the Exchequer, what estimate he has made of the financial loss to shareholders as a consequence of the collapse of the former Bradford and Bingley Building Society/Bank in 2008.
To ask Mr Chancellor of the Exchequer, what estimate he has made of the financial loss to shareholders as a consequence of the collapse of the former Bradford and Bingley Building Society/Bank in 2008.
In 2009 Peter Clokey of PricewaterhouseCoopers LLP was appointed as an independent valuer to consider whether shareholders and holders of rights associated with dated subordinated notes were entitled to compensation after the collapse of Bradford & Bingley. On 5 July 2010 he published his report setting out his determination that no compensation is due to former shareholders and bondholders. The case was referred to the Upper Tribunal who upheld the decision in 2012 and concluded that the valuer carried out his valuation function wholly in accordance with the Compensation Scheme.
To ask the Secretary of State for Business, Innovation and Skills, how many people owned shares in Royal Mail at (a) the launch of the share offer and (b) 1 January 2016.
To ask the Secretary of State for Business, Innovation and Skills, how many people owned shares in Royal Mail at (a) the launch of the share offer and (b) 1 January 2016.
At the time of Royal Mail Initial Public Offering (IPO) in October 2013, approximately 16% of the company was sold to 690,000 individual investors through a retail offer. A further 10% of the company was awarded to the company’s eligible UK employees with approximately 147,000 employees receiving shares.
Since the IPO, shareholders who purchased shares through the retail offer have been free to trade their shares. The Government does not hold records of these share dealings. Royal Mail has responsibility for maintaining a register of shareholdings in company.
The shares awarded to employees have been held in trust by Royal Mail’s Share Incentive Plan (SIP) to enable the employees to benefit from tax and national insurance advantages. Employees will be able to sell shares from October 2016. Eligible UK employees were also awarded a further 1% of the company’s shares in October 2015 and a further 1% award will be made later this year. These shares will also be held in the Royal Mail SIP for 3 years before they can be sold.
My Lords, I thank everyone who has contributed to this debate. I shall be very brief. We seem to have come to a point where we have a solution to everybody’s problem. The Minister has worked very hard, and I really appreciate that, but she was not able to say...
My Lords, I thank everyone who has contributed to this debate. I shall be very brief. We seem to have come to a point where we have a solution to everybody’s problem. The Minister has worked very hard, and I really appreciate that, but she was not able to say...
It is a great pleasure to serve under your chairmanship, Mr Percy. We started the debate under Mr Crausby, and I nearly addressed you as him. It is a genuine pleasure to respond to the debate. We have had a gem of a debate; as other hon. Members have observed,...
It is a great pleasure to serve under your chairmanship, Mr Percy. We started the debate under Mr Crausby, and I nearly addressed you as him. It is a genuine pleasure to respond to the debate. We have had a gem of a debate; as other hon. Members have observed,...
To ask the Secretary of State for Business, Innovation and Skills, if he will take steps to address the disparity between the number of shares owned by individuals and large investment funds.
To ask the Secretary of State for Business, Innovation and Skills, if he will take steps to address the disparity between the number of shares owned by individuals and large investment funds.
Large investment funds effectively comprise the investments of individuals, whether via their pension funds, insurance contracts, or other savings and investment products. The decision to invest in companies’ shares directly, or indirectly through a fund, is a matter for individual investors.
The Government has taken a variety of steps to encourage individual saving, and retail investment in shares in particular. For example, we have:
- Reduced the starting rate of income tax for savings;
- Increased the maximum annual amount which can be invested in an Individual Savings Account (ISA) to £15,240 in the 2015-16 tax year, and provided savers with greater flexibility to withdraw their money and put it back in to an ISA within the same year, without losing their tax benefits;
- Introduced, from April 2016, a new tax-free Personal Savings Allowance of £1,000 (or £500 for higher rate taxpayers) of interest earned on savings (taking 95 per cent of taxpayers out of savings tax altogether) as well as a new £5,000 tax-free dividend allowance for all taxpayers;
- Allowed shares from growth markets such as the Alternative Investment Market (AIM) to be held in ISAs - making investment in the growth markets easier;
- Abolished stamp duty on AIM shares, attracting further investment into growing companies and reducing the cost of raising capital for those companies.