Unilever abandons restructure under pressure from shareholders

first_imgIn the days before the announcement, several major shareholders had voiced objections to the planned restructure.Legal & General Investment Management (LGIM), a major provider of passive index tracking funds, said it would vote against the resolution. Sacha Sadan, director of corporate governance at LGIM, said Unilever was understood to have looked at several alternatives before reaching its final decision, but LGIM did not believe it had made a compelling case for shareholders to support Dutch incorporation.As part of its engagement with Unilever, LGIM worked with the UK shareholder group Investor Forum to engage collectively with other investors, including some of the UK’s biggest pension funds. In a statement, Investor Forum executive director Andy Griffiths said: “Our purpose is to escalate investor concerns through collective engagement and we would like to thank the board of Unilever for its constructive response in recent weeks.“We have worked with over 20 institutions on this assignment and believe that it represents a powerful illustration of the effectiveness of collective engagement.”Mike Fox, head of sustainable investments at Royal London Asset Management (RLAM), which holds approximately £360m (€406m) worth of Unilever shares, also praised the board for having “listened to shareholder concerns and responded in a constructive way”.Prior to this morning’s announcement, Fox warned: “Many UK Unilever shareholders voting for the upcoming resolution are effectively voting for forced divestment of their holding… We think that Unilever is a high quality company, both in its own right and as a key constituent of a number of UK indices.”While the consumer goods company might be able to convince European shareholders that the move made sense in the long term, Fox said, it was hard for a UK investor to see an incentive to vote in favour.PIRC, a leading proxy voting adviser, had also recommended that investors oppose the move.Unilever’s UK share price this year, versus the FTSE 100 index#*#*Show Fullscreen*#*# Source: CapitalIQ In developing the initial proposal, it said the board had been “guided by the opportunity to unlock value for our shareholders by creating a stronger, simpler and more competitive Unilever that is better positioned for long-term success”.It had received widespread support from shareholders for the principle behind simplification, it said, but the proposal’s implications had not received enough support. Unilever chairman Marijn Dekkers said the board would consider its next steps and continue to engage with its shareholders.UK objectionscenter_img Unilever, the British-Dutch consumer goods giant, has scrapped a plan to “simplify” its corporate structure after pressure from investors who would have been forced sellers of UK-listed shares.The announcement came early this morning in the wake of objections over the last few days from UK institutional investors owning millions of pounds of Unilever stock, who said they would vote the proposal down.The company – the third biggest in the FTSE 100 index by market cap – had proposed to incorporate in the Netherlands under a new holding company, which would have involved delisting from the London Stock Exchange and listing the new entity in its place. The matter was due to be put to the vote at extraordinary general meetings (EGM) on 25 and 26 October in Rotterdam and London.Unilever said in a stock exchange announcement at 7am today that the board had decided to withdraw its proposal.last_img read more

Warren dismisses Joshua’s claims for negotiating a fight with Wilder

first_img Loading… Promoted ContentWho Is The Most Powerful Woman On Earth?Can Playing Too Many Video Games Hurt Your Body?10 Largest Cities In The WorldWhat Happens To Your Brain When You Play Too Much Video Games?Who’s The Best Car Manufacturer Of All Time?The Very Last Bitcoin Will Be Mined Around 2140. Read More10 Risky Jobs Some Women DoCouples Who Celebrated Their Union In A Unique, Unforgettable WayWhich Country Is The Most Romantic In The World?7 Ways To Understand Your Girlfriend Better7 Ways To Understand Your Girlfriend BetterThe Models Of Paintings Whom The Artists Were Madly In Love With However, as Warren states, the option would be open for Joshua to vacate his WBO championship rather than face Usyk – in order to pursue a bout with the winner of Wilder vs Fury. There is even the outside chance that the WBO may grant Joshua a special dispensation to allow him to postpone a defence against Usyk – in the event that a bout to crown an undisputed heavyweight champion can be negotiated. Warren himself even acknowledged this possibility but argued that it could prove too costly to turn into reality. “Can things change? Of course, but it’ll be expensive to do that…I mean really expensive. Whatever this fight makes, Joshua will have to match it to get the loser to step aside. “That will be millions upon millions of pounds…But to talk now all glib about a ‘curve-ball offer’ is rubbish. Joshua knows full well he’s talking nonsense. Is he trying to con the public?” The fact is that the contract for Deontay Wilder vs Tyson Fury 2 does contain a rematch clause. The likelihood of that clause being invoked, however, very much depends upon the outcome of their upcoming fight. In the event that the bout has a conclusive ending, then one would have to wonder as to how much interest there would be in a third fight. Read Also:Anthony Joshua backs Fury to win rematch against Wilder Anthony Joshua’s chances of unifying the heavyweight division in 2020 become far greater if a clear winner emerges from the Wilder Vs Fury showdown in Las Vegas. FacebookTwitterWhatsAppEmail分享 Veteran promoter Frank Warren has accused unified world heavyweight champion Anthony Joshua of talking “rubbish” with regards to a potential fight with Deontay Wilder or Tyson Fury. In fact, Warren believes that the immediate future has already been mapped out for each of the division’s top fighters. WBA, WBO and IBF champion Joshua (23-1, 21 KOs) recently revealed that he wants to attempt to become an undisputed champion this year by fighting the winner of the February 22 WBC heavyweight title clash between Deontay Wilder and Tyson Fury. Joshua also insisted that talks had already taken place regarding such a fight. Reports suggest that Wilder and Fury have a clause in their rematch contract for a trilogy fight – but Joshua seems confident that he can throw a “curveball” into those plans. “I can categorically say Anthony Joshua didn’t meet with any of Deontay Wilder’s team. It’s just all rubbish. “The bottom line is, they can have 10,000 meetings, but all three fighters are already under contract,” Warren confirmed. “Tyson Fury, Wilder, Joshua- they all have their 2020 mapped out. Joshua has two mandatories or he vacates a title. “Tyson and Wilder fight on 22 February and the loser has the right to invoke a trilogy fight. That’s in their contracts.” Joshua appears set for an early-summer bout with his IBF mandatory challenger Kubrat Pulev – and, if successful, should then go on to face WBO number one contender Oleksandr Usyk.last_img read more

Brunt back in N Ireland squad

first_img The West Brom midfielder missed the side’s 1-0 win over Russia at Windsor Park – manager Michael O’Neill’s first victory in the job – after picking up two yellow cards in the campaign. All of the players who featured in that match return for the double header, with Portugal coming to Belfast on September 6 and Northern Ireland away to Luxembourg four days later. Chris Brunt has returned from suspension to take his place in a 22-man Northern Ireland squad for next month’s World Cup qualifiers against Portugal and Luxembourg. Press Associationcenter_img Manchester United’s Jonny Evans, who was a late withdrawal on the evening of the Russia match due to illness, is in the squad along with Kyle Lafferty, who was ruled out of that game with an Achilles problem. The Palermo striker, so long a first-choice pick for his country, may find it hard to dislodge either Martin Paterson, the goalscorer against Fabio Capello’s Russia, or Jamie Ward after both men impressed in a new-look forward partnership. Chris Baird misses out once again having yet to sign for a club since his release by Fulham, while Paddy McCourt is also absent having yet to play since joining Barnsley. Grant McCann, the Peterborough midfielder, has taken a voluntary break from international football to concentrate on his coaching commitments at Posh. Northern Ireland squad for the World Cup qualifiers against Portugal and Luxembourg: Carroll (Olympiacos), McGovern (Falkirk); Hughes (Fulham), McGivern (Hibernian), Cathcart (Blackpool), McAuley (West Brom), J Evans (Manchester United), Bruce (Hull), Hodson (MK Dons), D Lafferty (Burnley); Davis (Southampton), Norwood (Huddersfield), McGinn (Aberdeen), Ferguson (Birmingham), C Evans (Blackburn), Brunt (West Brom), O’Connor (Rotherham); K Lafferty (Palermo), Grigg (Brentford), McKay (Inverness), Paterson (Huddersfield), Ward (Derby). last_img read more

Martinez blasts Terry

first_img Martinez earlier insisted at his Thursday morning press conference that he was not worried about the speculation surrounding Stones, but acknowledged the player has been affected by the situation. Asked whether Chelsea’s interest had affected Stones, Martinez said: “Yes – and it is something where you hope you learn from it and you get more mature and those experiences are good experiences. “Clearly John is one of the outstanding young talents that we have in the squad and you are going to get that sort of interest from the outside.” Martinez also revealed he wants to bring three more players in before the end of the transfer window and overall cut a relaxed figure on Thursday as he previewed his side’s 2015-16 Premier League opener, Saturday’s home clash with promoted Watford. He expects Stones and winger Kevin Mirallas to be available for the Watford game despite the pair picking up ankle knocks in last weekend’s friendly against Villarreal. But forward Gerard Deulofeu is a doubt due to a hamstring problem, while striker Romelu Lukaku, who has had a hamstring issue of his own, will be assessed over the next 48 hours. Tony Hibbert, Steven Pienaar, Darron Gibson, Muhamed Besic and Aiden McGeady all miss out due to injury. Martinez – whose team finished 11th last season – is keen to add a trio of new personnel to his group. He said: “In order to be competitive for the next 10 months, we need three new signings and that is what we are going to work extremely hard on between now and the deadline.” Deulofeu, Tom Cleverley and David Henen have already arrived this summer and teenage River Plate midfielder Tomas Andrade looks set to be signed up on loan. “He is a young man with a terrific talent, who is already with us,” Martinez said of Andrade. “Hopefully we are going to agree a loan to allow him to get used to the British game. He is one for the future, not for the first team straight away.” Press Association Terry’s fellow centre-back Gary Cahil and manager Jose Mourinho have also spoken openly about their admiration for Stones. The Merseyside club have not reported Chelsea to the Premier League, but Martinez believes Terry has broken Premier League guidelines in publicly discussing the Blues’ pursuit of the England international. “That is wrong; that is illegal,” the Spaniard said of Terry’s comment, as quoted in several national newspapers. “The rules don’t allow you to comment on players who are registered at other clubs in that open manner. That is disappointing.” Martinez continued: “We have a fantastic relationship between the two clubs. In the past we made our biggest investment in Chelsea (signing Romelu Lukaku). We all know there are rules and regulations and it is something we don’t want to see when other clubs speak about your players. It is wrong and it shouldn’t happen. As clubs we have a good understanding of where we are.” The Everton manager insisted his club were under no pressure to sell the highly rated youngster. “The whole John Stones situation has come through the media because a club made a bid and made it public,” he said. “We have never been in a situation of commenting. We have a very talented young player who really has the potential to be the best centre-half England has produced, so you are going to get that attraction. That is natural, healthy and very, very positive. “But a player can make a decision when the clubs say he can make a decision. There is nothing to make a decision on. There is no negotiation. There is no relationship between the clubs in terms of trying to find a deal. “The modern game has gone in such a way that sometimes there are things you cannot control. But what you can control is your own finances and we are not a football club that has to sell to balance the books. If you think we need to sell John Stones to balance the books, that is not the case.” There has been talk of the Barclays Premier League champions preparing a third bid for 21-year-old defender Stones after so far having £20million and £26million offers rejected by the Toffees this summer. And Chelsea captain Terry added fuel to the fire earlier this week when he told Sky Sports: “One day I won’t be in the team but Chelsea are looking to the likes of John Stones for the future, so the club will continue to grow and do well.” Everton boss Roberto Martinez has accused John Terry of being part of a Chelsea campaign to lure John Stones. last_img read more

Tiger Woods files motion to dismiss wrongful death lawsuit

first_imgTiger Woods has filed a motion to dismiss the wrongful death suit filed by the family of a bartender at his Florida restaurant.Nicholas Immesberger worked at The Woods Jupiter, and the lawsuit claims the golfer, his girlfriend who was the general manager and the staff knew he was an alcoholic and allowed him to drive drunk after a shift in December.Immesberger died in a crash, and attorneys for his family say the restaurant destroyed evidence showing him drinking for three hours before he left.In his motion to dismiss, Woods claims he has no connection to the incident.Additionally, he claims that he is an investor in a company that owns The Woods, but doesn’t work at or own the restaurant and wasn’t there the day of the crash.Related content:Tiger Woods and Girlfriend Accused of Over-serving Alcohol and Destroying Evidence at Jupiter Restaurantlast_img read more

Men’s soccer: Badgers garner crucial win against in state rival Marquette

first_imgThe University of Wisconsin men’s soccer team wiped out their in state rival, the Marquette Golden Eagles, by a score of 3-0 at the McClimon Complex Wednesday night.This win brought the Badgers to a record of 7-2-2 and brought the Golden Eagles down to a record of 1-8-1. The red and white came out hot in the first half scoring all three of their goals in the first frame.Men’s soccer: Badgers stumble against Rutgers, come out ahead in major Big Ten testIn a battle between Big Ten foes, the University of Wisconsin men’s soccer team took down Rutgers by a score of Read…The first goal for the Badgers came in the 5th minute and was scored by Tom Barlow, his 5th goal of the season. The goal came off of a gorgeous cross from Chris Mueller, the senior who has been playing extremely well as of late for the Badgers.The second goal for the Badgers was scored by junior Elan Koenig. Koenig scored off of a rebound on a shot by Mueller, earning the junior his second goal of the season.Rounding up the scoring  for Wisconsin was Mueller who has been the star for the Badgers all year. Mueller scored on a header off of a pass from Mark Segbers to seal the game and give an insurance goal to the Badgers.Wisconsin has been showing signs of improvement over the last few weeks, earning four straight wins after a disappointing loss to Duke almost two weeks back. Since then, the Badgers have managed to garner wins against Penn State, Wright State, Rutgers and now, Marquette.Wisconsin has been led by forces like Mueller and Koenig, who have managed to help the Badgers score crucial goals during the past few weeks. With these two playing at their individual best, they are setting the pace to lead Wisconsin to new heights, and potentially the NCAA tournaments.Men’s soccer: Badgers cruise to first Big Ten winDomination. That would be the sole word used to describe the slaughter that took place at the McClimon Sports Complex Read…Saturday, Wisconsin welcomes Michigan State to the McClimon Complex. This will be an intense game in which the Badgers, with the help of Mueller and Koenig, can show just how much they have changed so far in their season.For now, Wisconsin has garnered yet another victory against a talented opponent, and are creating the momentum that they will need to be successful down the road.last_img read more

Syracuse falls 2 spots to No. 34 in latest ITA rankings

first_imgSyracuse (12-3, 4-3 Atlantic Coast) dropped two spots to No. 34 in this week’s Intercollegiate Tennis Association rankings despite a win Sunday.Even after a 5-2 win against then-No. 48 Louisville on Sunday afternoon, the Orange finds itself down two spots from its previous No. 32 ranking.SU’s Gabriela Knutson was originally No. 8 in singles in last week’s release, but her ranking was revised down to No. 9 due to “multiple results entry errors” from the ITA. Knutson and doubles partner Miranda Ramirez’s March 20 ranking was unaffected by the entry errors, as they remain at No. 37. The new singles and doubles rankings are only released on a bi-weekly basis.Syracuse has two matches this weekend. First, the Orange play on the road at Pittsburgh at 1 p.m. Friday. Then, SU returns to Drumlins to host No. 3 Georgia Tech on Sunday at 11 a.m. Comments AdvertisementThis is placeholder text Facebook Twitter Google+ Published on March 27, 2018 at 4:59 pm Contact Anthony: amdabbun@syr.edulast_img read more

Tipp could regret not bringing Barrett back into fold – Mullane

first_imgTipperary could regret not bringing Cathal Barrett back into the fold.That’s the view of former Waterford player John Mullane.Barrett was dropped from the Tipp panel earlier in the campaign for disciplinary reasons. Photo © Tipperary GAA Manager Michael recently said he would not be recalling Barrett for the rest of the season.However John Mullane says this could prove costly for the Premier.Tipp FM’s live coverage of the All Ireland Hurling semi final comes in association with Mulcahy Car Sales Ardcroney, Nenagh and Connolly Man O’Connell Street, Clonmel.last_img

Gay people are not abused in Barbados says Attorney General

first_imgGays in Barbados Barbados’ Attorney General Adriel Brathwaite has moved to dispel a notion that homosexuals and lesbians were being targeted for abuse across the island.Speaking during a courtesy call with Canadian High Commissioner Marie Legault at his Wildey, St Michael office, Brathwaite maintained that although buggery was still illegal in Barbados, this did not impact two consenting adults.He pointed out that Barbados remained one of the Caribbean islands where gay persons could exist without fearing for their lives and  stressed that citizens have always been aware and very “tolerant” of same-sex relations within the society.However, Brathwaite noted that he did not expect to see a “Caribbean consensus” on same-sex relations any time soon, given the wide-ranging viewpoints of each island nation.While acknowledging that Canada “thrives on diversity”, High Commissioner Legault stated that she hoped Barbados would eventually come to a place where it was “different from the rest of the Caribbeanlast_img read more

Blackstone eyes ‘IPO on the horizon’ for CIRSA

first_imgShare Share Mozzartbet sets sail in South America taking over Meridianbet Colombia July 22, 2020 A year following its €2 billion acquisition of Grupo CIRSA, US private equity fund Blackstone Group, is reported to be assessing ‘future options’ for the Spanish market gambling group.Spanish business news source Economia Digital, reports that Blackstone eyes an ‘IPO on the horizon’ for its CIRSA vehicle.Blackstone, which maintains one of gambling’s biggest investment portfolios, is reported to be ‘accelerating’ CIRSA’s opportunity to go public, changing the firms reporting structures and by further ‘fattening its asset’.Supporting IPO movements, CIRSA governance is reported to have ‘adapted to stock market routines’, securing a new bond issue and eligibility with ratings agencies.Furthermore, this May, Blackstone acquired Spanish slot machine and gaming hall operator Giga Games, for an undisclosed fee, an asset that will be absorbed by CIRSA.Under Blackstone ownership, CIRSA has laid-out clearly its corporate ambitions of becoming the ‘leading global Spanish language gambling firm’, with CIRSA governance reported to have allocated ‘€180 million towards investments each year’.In its report, Economia Digital, details that CIRSA Chief Executive Joaquim Agut is overseeing an operating strategy to maximise the firm’s IPO value.In Spain, CIRSA seeks to aggressively increase its ‘24% market share’, expanding retail betting points across new provinces, and taking advantage of embattled competitor Grupo Codere’s weakening position.Meanwhile, In LATAM markets, CIRSA governance explores new opportunities in which to expand its casino network, targeting openings in the Dominican Republic, Panama and Mexico.Finally, Agut is detailed to have implemented a review of CIRSA’s Spanish bingo hall division, which has reported declines in recent years, assessing whether to sell or transform retail units. StumbleUpon CIRSA confirms Antonio Grau as inbound CFO July 17, 2020 Superbet doubles down on Lucky7’s challenger investment  July 27, 2020 Related Articles Submitlast_img read more