Warning to Shareholders! Rolls-Royce Bosses To Use Company Cash Against Brexit?


 

BMW tells UK Rolls-Royce and Mini workers of EU ‘benefit’

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Dodgy stuff, that, and it raises questions, the most important being noticed by BBC business editor Simon Jack, who said the email would re-pose a question that was raised in the Scottish referendum, as to whether it was appropriate for companies who do not have a vote, but do have a voice, to get involved in politics.

http://www.bbc.com/news/business-35712537.

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Any such involvement is inappropriate, some would say, and, if contemplated, should surely be subject to a meeting for share-holders to debate it.

And that debate should be followed by a ballot of share-holders, at least. 

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But what does one of my British readers send me today but a VERY disturbing extract from the up-coming Rolls-Royce AGM agenda.

 

RESOLUTION 20 – POLITICAL DONATIONS AND EXPENDITURE That the Company and any company which is or becomes a subsidiary of the Company during the period to which this resolution is effective be and is hereby authorised to:

a) make donations to political parties and/or independent election candidates;

b) make donations to political organisations other than political parties;

and c) incur political expenditure during the period commencing on the date of this resolution and ending on the date of the Company’s AGM in 2017 or 15 months after the date on which this resolution is passed (whichever is the earlier), provided that in each case any such donations and expenditure made by the Company or by any such subsidiary shall not exceed £25,000 per company and the aggregate of those made by the Company and any such subsidiary shall not exceed £50,000. For the purposes of this resolution, the terms ‘political donation’, ‘political parties’, ‘independent election candidates’, ‘political organisation’ and ‘political expenditure’ have the meanings given by sections 363, 364 and 365 of the Act.

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The boss-men have added an ‘explanatory’ note below that resolution in which they protest that they certainly would not go handing out cash to any ‘political parties.’

But they certainly DON’T give any guarantee that they’d not use company cash to boost the anti-Brexit forces.

I simply urge R-R shareholders to vote this down.

It’s too big a risk, given the RR Suit-Peoples’ known bias in favour of Brussels!