Retail shareholders are no longer being overlooked in the world of proxy battles. Thanks to technological advancements and ongoing market fluctuations, activist investing has evolved. Now, even those with just a few shares can make a significant impact in proxy contests. Thank you to James Berkow for the opportunity to give my thoughts on this topic with the Globe & Mail.
Last April, a group of retail shareholders who collectively owned 12 per cent of London, Ont.-based Sernova Corp., successfully campaigned for two members of their group to join the biotechnology company’s board of directors.
“That was a group of retail shareholders that primarily met through the message boards like Reddit, CEO.ca or Stockhouse,” said Christine Carson, the CEO of Carson Proxy, which worked with the Sernova group alongside Mr. Morgan (Eric Morgan, partner at Kushneryk Morgan LLP). “Before social media, shareholders could ask for a shareholder list, but then they are having to look up phone numbers, they are having to call people, and then those other shareholders then have a stranger calling them asking for support.”
Not only has it gotten much easier for retail shareholders to connect with each other, Ms. Carson said, “it is also becoming easier in terms of fees, like legal fees and mailing fees.”
“Though companies are still required to mail material, they now have the option of e-mailing materials to shareholders if their e-mail is on file,” she said. “That means all of the Robin Hood accounts and all of the Interactive Broker accounts, for example, their shareholder material is now being e-mailed to them.”
Full article can be found here: https://lnkd.in/g2PysdNY
Carson Proxy Advisors
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Founder & GP Tenacity Venture Capital - Pitch or ping me w 1 line elevator pitch and ARR (I read all - No MedTech/Security/Web3). I do Seed and in very rare occasion, Pre Seed - nothing else.
3moWhat a great place to land. I am a Coatue fan. You still in the Bay or going to NY?