Companies

Mar 19, 2014

Red tape cut or gift to business? Shareholder activism harder than you think

The government wants to make it harder for shareholders to call an extraordinary general meeting. But the reason cited is a phantom, and the government should look elsewhere to 'cut red tape'.

Stephen Mayne — Journalist and Founder

Stephen Mayne

Journalist and Founder

Ever since the Abbott government was elected last September, The Australian has been put “on the drip” with a steady stream of “scoops” promoting its agenda.

Fairfax Media, including The Australian Financial Review, has been largely left out in the cold, which might explain why the paper got so excited on Tuesday when it was given a rare “exclusive” over apparent plans to remove the right of 100 shareholders of an ASX-listed company to call an extraordinary general meeting. The AFR gave it front- and back-page treatment on Tuesday, confidently declaring in a splash headlined “Boards shielded from activists” that “the government will legislate on Wednesday”.

Free Trial

Proudly annoying those in power since 2000.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions

1 comments

Leave a comment

One thought on “Red tape cut or gift to business? Shareholder activism harder than you think

  1. PDGFD1

    Thanks for clearing that up Mr.M… it’s always more than worth my time to ‘clock in’ when you’re ‘on deck’

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details

Sending...