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shareholding

July 26, 2011

News Corp’s second biggest shareholder, Prince Alwaleed bin Talal, has dismissed calls for a change to the company’s dual-class share structure, reported the Financial Times.

News Corp’s second biggest shareholder, Prince Alwaleed bin Talal, has dismissed calls for a change to the company’s dual-class share structure, reported the Financial Times.

“Investors went into News Corp knowing the class A and B share structure. No one can cry wolf now,” Alwaleed told the FT.

News Corp has a two-class share structure, whereby B-class shares have voting rights and A-class no voting rights. Currently, the Murdoch family control nearly 40% of the voting shares and around 12% of the non-voting shares.

May 20, 2011

The Hermes family, majority owners of the French luxury goods company of the same name, said they were determined to remain in control of the business following an attempt to stop them using their voting rights.

The Hermes family, majority owners of the French luxury goods company of the same name, said they were determined to remain in control of the business following an attempt to stop them using their voting rights.

In a statement on 19 May, the Hermes family said that the Association for the Defence of Minority Shareholders has filed an application to deprive the family of their voting rights during the annual general meeting, scheduled for 30 May.

May 18, 2011

The controlling family behind Hyatt Hotels Corporation plans to sell nine million of their Class B voting shares back to the company, the group said in a statement on 16 May.

The controlling family behind Hyatt Hotels Corporation plans to sell nine million of their Class B voting shares back to the company, the group said in a statement on 16 May.

The Pritzker family, which holds around 80% of the Class B stock (over 100 million shares) through a number of family trusts, will sell nine million shares for $395.7 million. The deal is expected to close this month and accounts for around 6.9% of the company’s overall Class B shares.

May 13, 2011

The Ford family, who control the US-based carmaker of the same name, won a shareholder vote on 12 May to retain the multiple voting shares through which they control the company.

The Ford family, who control the US-based carmaker of the same name, won a shareholder vote on 12 May to retain the multiple voting shares through which they control the company.

The proposal to dismantle the group’s two-tier share system was rejected at the company’s annual shareholder meeting by a 68.5% majority, Ford said in a statement.

August 26, 2010

Selwyn Parker analyses why institutional investors are starting to appreciate the family business ownership model

Until the global financial crisis overturned the prevailing wisdom of institutional investors, the UK family-controlled brewer and pub owner Fuller, Smith & Turner was considered almost an anachronism in a highly-leveraged world. Listed on the London Stock Exchange, the firm had such low borrowing levels that it was shunned by most analysts and big investors in favour of much more highly-geared rivals who had not, in the phrase of the period, "tied up capital in the business".

September 1, 2004

Young family members sometimes find themselves with a significant shareholding in a family business which does not employ them and in which they have little interest. What are the implications for the business and for other members of the family if they wish to exit? Andrew Drake explains

Andrew Drake is a partner in the Family Business Unit at Boodle Hatfield Solicitors.

Young family members sometimes find themselves with a significant shareholding in a family business which does not employ them and in which they have little interest. What are the implications for the business and for other members of the family if they wish to exit? Andrew Drake explains

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