FT: Market reverberates with accusations of ‘empty voting’

Empty vessels make the most sound, according to the proverb. So too does empty voting. Last week, accusations of empty voting — where investors borrow voting shares for short periods to swing the outcome at meetings — began to reverberate around the market ahead of Premier Food’s shareholder meeting next week. It was sparked when Oasis Management , the Hong Kong activist hoping to unseat Premier’s chief executive Gavin Darby, said it had increased its stake in the owner of Angel Delight from 9 to 17 per cent as it emerged that an unusually high level of stock in Premier has been lent out.

The full article is available here.

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