Latest news with #goldenshares
Bloomberg
3 days ago
- Business
- Bloomberg
Wise Investors Back Fintech's Vote to Move Listing Out of London
Wise Plc shareholders approved a proposal to shift its primary listing out of London, a move that will also allow Chief Executive Officer Kristo Käärmann to keep his so-called golden shares for many more years. About 85% of shareholders who voted for the proposals approved the measures, according to a regulatory filing on Monday.
Bloomberg
6 days ago
- Business
- Bloomberg
Wise Turned to US as Some Investors Pushed Back on Dual Shares
Wise Plc's plan to shift its primary listing out of London gathered momentum after some existing shareholders rebuffed a proposal that would have allowed Chief Executive Officer Kristo Käärmann to keep his so-called golden shares for many more years, according to people familiar with the matter. In late 2024, Wise's board began consulting with shareholders on a plan that would allow the company to preserve in London the dual-class share structure that gives Käärmann de facto voting control in the company, the people said, asking not to be identified discussing non-public information.
Bloomberg
04-07-2025
- Business
- Bloomberg
The Golden Share Makes a Dubious Comeback
If you thought golden shares were a relic of the 1980s, gone with mullets and perms, think again. These devices for subjecting companies to state control are back. Given the scope for abuse, it would be better if the power of these special shares was sufficient only to call them bronze. Golden shares can be seen as a particular version of dual-class governance structures that allow company founders voting rights exceeding their economic shareholding in a company. The difference is that the disproportionate power is held by a government rather than an entrepreneur like Mark Zuckerberg at Meta Platforms Inc. Golden shares are mostly associated with the European privatizations late last century, like BAE Systems Plc, Rolls-Royce Plc and Royal KPN NV.
