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Even the city’s dedicated people could be forgiven for pulling the plug if the issue of regulation arises. But the proposed changes to the contribution regime are, if not fascinating, causing a stir.
The restructuring is an attempt by the Financial Conduct Authority to make London a more attractive place to float companies after defections and snubs from companies opting for New York instead of the City.
Some of the changes, which will come into effect later this year if approved, have already caught the attention of Quantum, a British candidate to float in London.
Causing a stir: The restructuring is a bid by the Financial Conduct Authority to make London a more attractive place for floating companies.
The cybersecurity group has cited possible amendments, such as the need to list only 10 percent of the shares (instead of the usual 25 percent), as “especially beneficial” for a rapidly growing business.
“We firmly believe that London remains one of the most prestigious exchanges in the world and the right place for us,” co-founder Peter Malmstrom told Whispers. Three cheers for a little patriotism.
Are traditional general assemblies returning?
Annual meetings aren’t what they used to be.
Gone are the tea and biscuits and the opportunity for ordinary shareholders to put pressure on the chief executive now that meetings are being held online. Or are?
New research from meetings specialist Lumi shows that in-person meetings increased last year, up to 15 percent of the total, compared to 12 percent in 2022.
It’s true that most are now “hybrid”, but that choice has seen attendance levels almost double those of 2022, which is good news.
It is evident that old habits die hard.
Rio Tinto takes another look at the Jadar project
Word on the street is that Rio Tinto could finally be moving forward with its lithium mining project in Serbia, Jadar.
Industry experts say they believe the massive project could come back online, more than two years after authorities revoked Rio’s licenses to continue development, dealing a blow to the miner’s plan to enter in the race for metals like lithium needed to go green.
Rio leader Jakob Stausholm met Serbian President Aleksandar Vucic in Davos to discuss Jadar’s revival.
Stausholm described the talks as “solid,” while Vucic said they were “difficult.”
Theories abound. One is that Serbia is warming to the idea because of the falling price of lithium, meaning few more miners would be lining up to take it off Rio’s hands.
Oil and gas companies await Horse Hill ruling
Oil and gas companies are nervously awaiting a High Court ruling on an obscure legal battle that could have huge ramifications for fossil fuel extraction in the UK.
The Supreme Court is reviewing an appeal brought by Surrey resident Sarah Finch against the county council, which she claims failed to take into account pollution generated by oil and gas extracted from a site called Horse Hill.
If successful, it would mean a big change for any project that needs an environmental impact assessment.
A landmark legal victory for a case argued on similar grounds in Norway has given a boost to campaigners, although it has no bearing on English law.
Contributor: Patrick Tooher
