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The
Financial Conduct Authority has published a range of proposals to strengthen the position of minority shareholders in
premium listed companies where there is a controlling shareholder (holding 30% or more of the votes): see
here (
pdf). Included are additional voting rights for minority shareholders regarding the appointment of independent directors. It will also be mandatory for premium listed companies with a controlling shareholder to have an agreement in place setting out certain undertakings regarding the independence of the company's business from that of the controlling shareholder.
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