Many boards today realize that proactive engagement between directors and shareholders can address shareholder concerns which, if ignored, can manifest themselves in undesirable ways such as negative votes on “say on pay” resolutions, withheld votes for directors, proxy contests or other forms of shareholder activism.
The Institute of Corporate Directors (“ICD”) has now published “ICD Guidance for Director-Shareholder Engagement” (the “Guidelines”) to assist boards with shareholder engagement processes and procedures.
The ICD Guidelines are intended to be flexible and are meant to be tailored to a company’s individual circumstances. The ICD Guidelines are based on six … Continue Reading
The following Canadian M&A Perspectives blog post by Cristian Blidariu, Jonathan Grant, Ian Michael, Sean Sadler, Rene Sorell and Sonia Struthers may be of interest to readers of this blog:
Proposed Changes to Early Warning Reporting System Address Market Transparency and Shareholder Activism in Canada
Under Canada’s early warning reporting (EWR) system, investors holding 10% or more of a public company’s voting securities must publicly report their ownership levels, the purpose of the transaction and any future intention to accumulate more securities. Eligible institutional investors can report more slowly than EWR filers and provide less information … Continue Reading