Share price seems to have recovered somewhat. I don't think they're going anywhere anytime soon.
-
-
Metro Bank board dodges a bullet
Metro Bank founder and chairman Vernon Hill seemed more surprised than anyone: not a single shareholder asked a question at the bank’s annual meeting on Tuesday.
Nobody wanted to rage about the 80% fall in the share price in the past 14 months. Metro’s basic banking blunder, in which £900m of loans were placed in the wrong risk bracket, was left unexamined. Last week’s £375m fund-raising was taken on the chin.
True, there was a modest 12% vote against Hill’s re-election, and larger protests against the heads of Metro’s audit and remuneration committees. But the board won all its resolutions comfortably. It sometimes claimed that we’re living in a golden era for shareholder activism; don’t believe it.
Who are the villains of the British Steel crisis? | Nils Pratley | Business | The GuardianComment
Comment