Legal & General

EXXON SHAREHOLDERS TO VOTE ON REPORT ON THE IMPACT OF THE ENERGY TRANSITION ON ASSET RETIREMENT OBLIGATIONS

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星期四, 五月 25, 2023

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CHICAGO, May 25, 2023 /PRNewswire/ -- Christian Brothers Investment Services, Inc. (CBIS), a leading investment management firm and Registered Investment Advisor to Catholic investors around the world, today announced that a shareholder resolution co-led by the company and Legal & General Investment Management (LGIM) will go to a vote at the Exxon Annual General Meeting on May 31, 2023.

Key Points:

On May 19, Reuters reported that proxy advisor Glass Lewis backed the initiative, concluding Exxon could face material financial risks from the net-zero scenario.
Last year, a majority of Exxon's shareholders voted for a CBIS resolution seeking an audited report assessing the financial impact of the IEA NZE assumptions, including future asset retirement obligations.
According to John Geissinger, CBIS' Chief Investment Officer, Exxon's disclosures still fail to provide investors sufficient insight into how retirement costs might accelerate and how large those costs might be.
"Investors have demonstrated their concerns about the potential impacts of the energy transition on Exxon, particularly in cases where the company has an obligation to retire an asset but records no costs on the balance sheet today," says Geissinger.

Oasis Management Urges Shareholders to Reject Pay Without Performance at The Restaurant Group

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星期二, 四月 25, 2023

Oasis Management Company Ltd. (“Oasis”, “we”) is one of the largest shareholders of The Restaurant Group plc (“TRG”, “the Company”), beneficially holding c.12.3% of the Company’s issued share capital.

Key Points:

Oasis Management Company Ltd. (“Oasis”, “we”) is one of the largest shareholders of The Restaurant Group plc (“TRG”, “the Company”), beneficially holding c.12.3% of the Company’s issued share capital.
Without the support of a small number of TRG’s largest holders, the proposals would have failed heavily.
Shareholders who participated in those equity raises have seen the value of their investment collapse by c.70% since 2018.
Longer-term shareholders have suffered even worse performance, losing a staggering c.93% since the 2015 peak, whilst currently receiving no dividends, buybacks or capital appreciation.

Verisk Maplecroft collaborating with LGIM to power new Sovereign ESG Index funds offering

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星期四, 四月 20, 2023

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LGIM plans to utilise the depth, breadth and accuracy of Verisk Maplecroft’s portfolio of ESG risk analytics, which outperformed alternative data across a broad set of criteria, to develop Sovereign ESG Index funds.

Key Points:

LGIM plans to utilise the depth, breadth and accuracy of Verisk Maplecroft’s portfolio of ESG risk analytics, which outperformed alternative data across a broad set of criteria, to develop Sovereign ESG Index funds.
Verisk Maplecroft’s sovereign ESG analytics draw on thousands of different geospatial, unstructured, structured and expert-scored subnational and national indicators, and a range of proprietary modelling techniques.
“We are delighted to be working with LGIM on their new Sovereign ESG Index funds”, said James Lockhart Smith, VP of Markets & ESG at Verisk Maplecroft.
Lee Collins, Head of Index Fixed Income at LGIM added: “We have exciting plans to develop new LGIM-designed Sovereign ESG Index funds, driven by Verisk Maplecroft’s data.

Diamond Hill Appoints Mark Zinkula to Its Board of Directors

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星期四, 二月 23, 2023

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COLUMBUS, Ohio, Feb. 23, 2023 /PRNewswire/ -- The Board of Directors ("Board") of Diamond Hill Investment Group Inc. (NASDAQ: DHIL) ("Diamond Hill") today announced the appointment of Mark Zinkula, CFA, as Director, effective immediately.

Key Points:

COLUMBUS, Ohio, Feb. 23, 2023 /PRNewswire/ -- The Board of Directors ("Board") of Diamond Hill Investment Group Inc. (NASDAQ: DHIL) ("Diamond Hill") today announced the appointment of Mark Zinkula, CFA, as Director, effective immediately.
Mr. Zinkula previously held various positions at Legal & General Investment Management ("LGIM"), most recently serving as CEO from 2011 until his retirement in 2019.
The members of the Board of Directors now include Brilliant as well as independent directors James Laird (the Board Chair), Zinkula, Scott Cooley, Randolph Fortener, Paula Meyer, Nicole St. Pierre and L'Quentus Thomas.
"The robust experiences of our directors position the Board well to continue to provide guidance and oversight to Diamond Hill in all market environments," said James Laird, Board Chair.

Glass Lewis Unanimously Recommends Capricorn Shareholders Vote AGAINST Proposed Merger with NewMed and FOR All Board Change Proposals

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星期一, 一月 23, 2023

Palliser Capital (“Palliser”), owner of 7.45% of the issued share capital of Capricorn Energy PLC (LSE: CNE) ("Capricorn" or the "Company"), today announced that Glass, Lewis & Co. (“Glass Lewis”) became the second leading independent proxy advisory firm to recommend that Capricorn shareholders vote AGAINST the proposed merger of Capricorn and NewMed Energy at the upcoming General Meeting on 1 February 2023.

Key Points:

Palliser Capital (“Palliser”), owner of 7.45% of the issued share capital of Capricorn Energy PLC (LSE: CNE) ("Capricorn" or the "Company"), today announced that Glass, Lewis & Co. (“Glass Lewis”) became the second leading independent proxy advisory firm to recommend that Capricorn shareholders vote AGAINST the proposed merger of Capricorn and NewMed Energy at the upcoming General Meeting on 1 February 2023.
Glass Lewis also recommends that shareholders vote FOR all of Palliser’s proposed board change resolutions to remove seven incumbent directors, including the Chair and CEO, and appoint in their place six independent director candidates.
Further, each of the Dissident Nominees appears to be wholly independent of Palliser outside of their nominations.”
“The resounding support for Palliser’s proposals from both ISS and Glass Lewis, the two premier independent proxy advisory firms, makes clear there is a better path forward for Capricorn shareholders,” commented James Smith, Chief Investment Officer at Palliser Capital.
“We urge shareholders to exercise their voting rights to enable a brighter future for Capricorn under a qualified leadership team who will make it their top priorities to maximise shareholder value and deliver real growth in Egypt.”
The recommendations from ISS and Glass Lewis endorse the views of over 40% of Capricorn shareholders who have already confirmed support for Palliser’s proposal through letters of intent, public statements and private comments, including Legal and General Investment Management (LGIM), Irenic Capital Management, VR Global Partners, Madison Avenue Partners, Kite Lake Capital and others.

Disrupting the Disruptors: Proptech Platform Homemove Secures $400,000 in Funding

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星期二, 一月 17, 2023

NORWICH, England, Jan. 17, 2023 /PRNewswire/ -- Homemove , a tech platform connecting sellers, buyers and renters with vetted, trusted and established home moving services, has raised $400,000 in pre-seed funding to aid rapid growth.

Key Points:

NORWICH, England, Jan. 17, 2023 /PRNewswire/ -- Homemove , a tech platform connecting sellers, buyers and renters with vetted, trusted and established home moving services, has raised $400,000 in pre-seed funding to aid rapid growth.
In an effort to challenge the so-called 'disruptors', Homemove will be promoting the best local and independent service providers who prioritise their clients' best interests.
Louis O'Connell-Bristow , Homemove co-founder & CEO, said: "My vision is to significantly improve the home moving process and this funding round is a major step towards achieving that goal.
James Freestone , Homemove co-founder & COO, said: "At Homemove, we are not just building a brand, we are building a legacy of trust and excellence.

ISS Unanimous Support for Palliser: Recommends Capricorn Shareholders Vote AGAINST Capricorn’s Misguided Merger with NewMed and FOR All Palliser Board Change Proposals

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星期五, 一月 20, 2023

Palliser Capital (“Palliser”), owner of 7.45% of the issued share capital of Capricorn Energy PLC (LSE: CNE) ("Capricorn" or the "Company"), today announced that Institutional Shareholder Services Inc. ("ISS"), a leading independent proxy advisory firm, has recommended that shareholders vote AGAINST the proposed merger of Capricorn and NewMed Energy at the upcoming General Meeting on 1 February 2023.

Key Points:

Palliser Capital (“Palliser”), owner of 7.45% of the issued share capital of Capricorn Energy PLC (LSE: CNE) ("Capricorn" or the "Company"), today announced that Institutional Shareholder Services Inc. ("ISS"), a leading independent proxy advisory firm, has recommended that shareholders vote AGAINST the proposed merger of Capricorn and NewMed Energy at the upcoming General Meeting on 1 February 2023.
ISS also recommends that shareholders vote FOR all of Palliser’s proposed board change resolutions to remove seven incumbent directors, including the Chair and CEO, and appoint in their place six independent director candidates: Hesham Mekawi, Chris Cox, Maria Gordon, Craig van der Laan, Richard Herbert and Tom Pitts.
Their independence is not in doubt…”
“We appreciate the support of ISS in recognising the need for comprehensive change at Capricorn,” commented James Smith, Chief Investment Officer at Palliser Capital.
“The actions of Capricorn’s Board have failed to address long-standing value and governance issues, culminating in the recommendation of two value destructive deals in the space of four months.

Palliser Sends Public Letter to Capricorn’s Board Outlining Major Governance Concerns

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星期二, 一月 17, 2023

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This is a long-term issue and recent developments simply reinforce the concerns of over 40% of Capricorn shareholders who have lost trust and confidence in this board.

Key Points:

This is a long-term issue and recent developments simply reinforce the concerns of over 40% of Capricorn shareholders who have lost trust and confidence in this board.
These were reportedly met with the disdainful response that LGIM should just sell its shares if they are not satisfied.
Your latest actions simply reinforce the fact that wholesale board change is vital in fixing what appear to be deeply embedded longer-term governance failings at Capricorn.
The board should adjourn the NewMed vote until after the requisitioned vote on board change and allow true shareholder democracy to take its course.

UnitedHealth Group and Allianz SE Remain Atop AM Best’s Largest Insurer Rankings

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星期一, 一月 9, 2023

In addition, Allianz SE remained in its top spot by nonbanking assets, at $1.2 trillion, while Berkshire Hathaway Inc. rose to second place from fifth.

Key Points:

In addition, Allianz SE remained in its top spot by nonbanking assets, at $1.2 trillion, while Berkshire Hathaway Inc. rose to second place from fifth.
AM Best released the rankings of the world’s largest global insurance companies, by NPW and nonbanking assets, in the Jan. 6, 2023, issue of Best's News.
Overall, the two rankings saw some reshuffling in the top spots, with U.S.-based health insurers further strengthening their leading positions.
These gains came at the expense of two Chinese insurers — China Life Insurance (Group) Co. Ltd. and Ping An Insurance (Group) Co. of China Ltd.

Palliser Receives Additional Letters of Intent from Capricorn Shareholders

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星期三, 十二月 21, 2022

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Palliser Capital (“Palliser”) today announces receipt of signed letters of intent from three additional shareholders of Capricorn Energy PLC (LSE: CNE) (“Capricorn”) in support of Palliser’s proposed resolutions to remove seven current Capricorn directors and appoint six independent, highly qualified replacement candidates.

Key Points:

Palliser Capital (“Palliser”) today announces receipt of signed letters of intent from three additional shareholders of Capricorn Energy PLC (LSE: CNE) (“Capricorn”) in support of Palliser’s proposed resolutions to remove seven current Capricorn directors and appoint six independent, highly qualified replacement candidates.
The signed letters of intent from Irenic Capital Management, VR Global Partners and an additional undisclosed shareholder immediately follow Palliser’s call for a general meeting (“EGM”) of Capricorn shareholders.
Combined with letters of intent previously shared by three of Capricorn’s largest shareholders (other than Palliser), and the public statement made by Legal & General Investment Management on 20 December 2022, the most recent letters indicate that shareholders representing 39% of Capricorn’s issued share capital have lost trust in the current directors and agree that drastic board change is now required.
Further background on Palliser’s proposal can be found in a letter to shareholders and accompanying presentation outlining the nominees’ backgrounds and qualifications.