Quote:
Originally Posted by Florence
I am not allowing BT to handle the shares in votes anymore I truly thought she had sold them all when the 02 shares had to be sold years ago.
I have a responsible person going this years AGM with proxy for the votes who will be asking questions. I am here to help not be attacked for owning shares that are not in my name but an 86 yr old women who just happens to be my mother. She thought sadly that the shares would be worth enough to pay for her funeral... Apparently that was the only reason she kept them few years back she could have sold them for over £1,000 today they are worth nearer £600.
There are many shareholders who due to financial reasons or health cannot make it to AGM's. That doesn't mean they are all bad and support Phorm my mother has no idea of what phorm can do she isn't IT literate and has never used a computer. She only had internet at her home 2 yrs ago when her son moved back in to help look after her with me.
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This is not meant in any way as an attack on you or your mother for BT share ownership. I have also at times in my past owned them and if I owned them now would consider the activism route you are, not selling them in disgust, the market really does not care why you are selling 200 shares it would take a Fidelity to ditch BT over this for the market to sit up and take note.
I am trying (and I guess failing) to educate you in the difference between ownership and control of a legal entity, rather boring and technical but important nonetheless. Your mother as an owner of BT shares could never suffer any liability (just financial loss of the value of her shares) as a result of these actions of BT as she is just an owner. The Board, the controllers could however suffer personal loss for criminal activity, just as members of the BAA board have recently been held by the US government for questioning and the NatWest 3 went to prison.
Wiki on Corporations
http://en.wikipedia.org/wiki/Corporation and on ownership and control
http://en.wikipedia.org/wiki/Corpora...ip_and_control
What can happen to you if you are an officer of a company and are found to break the law.
http://en.wikipedia.org/wiki/NatWest_Three
The NatWest Three, also known as the Enron Three,[1] are three British businessmen - Giles Darby, David Bermingham and Gary Mulgrew. In 2002 they were indicted in Houston, Texas on seven counts of wire fraud against their former employer Greenwich NatWest, at the time a division of National Westminster Bank.[2] After a high-profile battle in the British courts they were extradited from the United Kingdom to the United States in 2006. On November 28, 2007, they each pleaded guilty to one count of wire fraud in exchange for the other charges being dropped.[3] On February 22, 2008 they were each sentenced to 37 months in prison.
http://en.wikipedia.org/wiki/BAE_Sys...bian_contracts
On 19 May 2008 BAE confirmed that its CEO Mike Turner and non-executive director Nigel Rudd had been detained "for about 20 minutes" at George Bush Intercontinental and Newark airports respectively the previous week and that the DOJ had issued "a number of additional subpoenas in the US to employees of BAE Systems plc and BAE Systems Inc as part of its ongoing investigation".[118] The Times suggests that, according to Alexandra Wrage of Trace International, such "humiliating behaviour by the DOJ" is unusual toward a company that is co-operating fully.[118]