“Irish companies follow the UK Corporate Governance Code and generally have high levels of compliance. Companies also adopt many of the requirements of UK companies to put forward a "Say on Pay" which is not legally required in the Irish market. While Irish companies continue to record high levels of compliance with the UK Code, there is room from further improvement generally with Board diversity being one area which stands out”
Jonathan Neilan, Managing Director
Country:
Ireland
Average % of insider ownership:
Activism
Threat Level
To learn more about this country, please click on the tabs below
Ireland has seen a steady increase in shareholder activism since 2015. Ranked third in the Eurozone for activist threat level, Ireland activism has trended towards remuneration issues. Companies listed on the Main Securities Market are required to comply with both the UK Corporate Governance Code and the Irish Corporate Governance Annex.
Shareholders reaching, exceeding, or falling below a three percent threshold, or where the holder exceeded three percent both before and after the transaction, must disclose their voting interests and provide updates when ownership changes whole number increments. The disclosure threshold was reduced from five percent to three percent following enactment of the Companies Act 2014 of Ireland.
Like the UK, structural defenses are limited for Irish listed companies.
Top Campaigns by Type
1. Gain Board Representation
2. Removal Of CEO Or Other Board Member
3. Stock Promotion
Campaigns By Year
Total
Campaigns
Notable Invested Activists
• Worldview Capital Management
• Starboard Value
• Crystal Amber
Recent activism campaigns
Prothena Corporation plc | VS. |
Muddy Waters Research |
Perrigo Company | VS. |
Starboard Value |
One Horizon Group Inc. | VS. |
The Street Sweeper |
Total Active
Campaigns
Contact FTI Consulting
Capital Markets Research and Activist Engagement
Managing Director
+1 312 861 4721
Geoff.Serednesky@FTIConsulting.com
Managing Director
+353 1 663 3686
Jonathan.Neilan@fticonsulting.com