Interesting that the UK, as set out in a recent Bloomberg article copied below, is considering curbs on shareholders that own 30%+ in stock; it understood doctors at VEI control around that percentage and executive doctor/management has 50% Board control, where the non executive Chair and one other non-executive director have been serving since the company listed in 2004.
Bloomberg:
"....
Ensure Autonomy The governance measures are expected to be finalized by the U.K.’s new Financial Conduct Authority as soon as next month. They may require that independent directors constitute a majority of the board at companies with a “controlling shareholder” -- defined as holding at least 30 percent of stock. To ensure autonomy, an independent director’s appointment would need approvals in separate votes from minority shareholders as well as all investors. Another provision could reinstate a rule, dropped in 2005 by what was then known as the Financial Services Authority, that bars controlling shareholders from influencing the day-to-day running of a company. The new measures would apply to both new issuers and listed companies."
VEI Price at posting:
60.0¢ Sentiment: None Disclosure: Not Held
