It seems they don’t like the principle of “one share, one vote” at public companies. In addition, Kalifa recommended changes to another traditionally important rule: that at least 25% of shares in “premium” firms must be in public hands. The principle of equal rights for equal economic risks has served the London market well. Founder-led firms’ demands for concessions and golden shares feel unsporting, but, like it or not, these companies matter. There are dangers if the London stock market is seen as a backwater of banks and mining companies.

Source: The Guardian February 28, 2021 06:56 UTC