Activistmonitor quotes Calgary lawyer, Sarah Gingrich, in an article on public shareholder activism in Canada’s oil and gas industry.
Investor frustration over not realizing returns on their oil and gas investments in the short term and significant questions about the long term value of these companies are expected to support a pick up of shareholder activism in the sector, said Sarah Gingrich, a corporate lawyer at Fasken office in Calgary, Alberta.
The situation in Calgary is a “perfect storm” and “fertile ground” for activism, she noted.
Also potentially fuelling activism is the “large salaries that you’re seeing at the management level,” Gingrich said. Shareholders are “looking to make a change at the board level, often a minority board stake… to strike down these say on pay motions.”