Legal updates: July 2023

Sophie Brookes and Debbie Shaw of Gateley examine voting rights for directors and shareholders in Hikari, breach of statutory duties in Shell, and revised insider dealing rules

Can a shareholder vote in their own self-interests?

A recent High Court case gives useful guidance on the different restraints placed on shareholders and directors when exercising their respective voting rights, and whether those change when a director is appointed as a nominee of a shareholder.

Facts

The case (Hikari Miso (UK) Limited v Knibbs & ors [2023] EWHC 1340 (Ch)) involved a dispute about a shareholders' agreement relating to a UK company which produced and distributed tofu.

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