Last month, the C$107.5bn Ontario Teachers’ Pension Plan, the largest shareholder in UK property group Hammerson, voted down a routine resolution.

A decision taken 3,500 miles away in Toronto on how to vote its 11.88 % stake, robbed Hammerson of the ability to call special shareholder meetings at 14 days' notice instead of 21. It was a standard request, and one allowed by the EU's shareholder rights directive.