WPP Scangroup's $SCAN minority shareholders voted overwhelmingly for board change at the company's AGM on Monday, with more than 99% of the 63.5 million independent shares cast backing the resolutions.
The total vote was 306.7 million shares, of which WPP Plc's 243.1 million block voted against, defeating every resolution.
Founder Bharat Thakrar, who led the requisition campaign, said the outcome demonstrated that a controlling shareholder had used its votes to shield itself from accountability, and that the work of holding the board to account continues.
WPPScangroup AGM just ended. 🚨High darama AGM!
-The best AGM I have ever attended.
-Tense at the beginning but great management by Chair Richard Omwela.
-Presentation by
@bharatthakrar
was for goosebumps.
-Bharat was allowed to do presentation un-interupted for 30+minutes. What a show. Total deference by the board
-Total failure by WPP representatives to attend is disrepectful to local shareholders
-3 Directors proposed for election by WPP also did not show up to be introduced. WTF.
-Secret revelation by Bharat Thakrar. WPP have given him a poison pill[ If you want your company back, pay us 56% of cash held. 56% of 2b= 1.2b]
Read about it all on my substack - link in bio
I built this company. I've watched its value fall 62% in four years. Today its minority shareholders vote to hold the board to account, a vote we cannot win but will not stay silent on. Here's why. #WPPScangroup, @WPP
Bitcoin isn't crashing below $60k because Saylor sold 32 BTC.
It's crashing because $19 trillion of new AI market cap got created in 12 months... 13x the size of Bitcoin.
The most liquid risk asset on earth is being drained to fund the biggest IPO cycle since 2000.
Bitcoin found some short-term support around $61,000. That's slightly above the February low of just under $60,000. It makes sense that there would be some initial support there. So far it's bounced over $2,000 off that low. Let's see how long it lasts.
Lol, in the 17 years i've been here, only one person ever heeded such advice.
As usual, they come flocking to buy during runs, hesitate, then buy at ATH levels then whine about drops, then sell and the cycle repeats ad nauseum.
SpaceX is simultaneously three things
- An extremely profitable and promising space launch and telecom business
- A highly speculative and capital intensive AI firm
- A massive grift using exchanges and retail for exit liquidity