Competition or shareholder interests?
Come March 30 and 31 and there is a rush to hold AGMs of listed companies resulting in a dilemma for shareholders having an interest in two or more companies. Which AGM do you attend? Apparently the rush is to meet the deadlines for the annual reports competition and not for the shareholder’s benefit, or is it to reduce attendance and avoid unnecessary questions? This year some 20 companies had meeting on these two days, at either 10 am or 3 pm.
Many shareholders have repeatedly urged the CSE to make sure these AGMs don’t clash but no one’s listening.
IT
Again on the CSE: The new listing rules allow companies to send ‘soft (IT)’ copies of their quarterly reports to the CSE web instead of ‘hard (printed)’ copies. Now how many shareholders in listed companies have access to Internet? Probably less than 5 %! Furthermore companies, under these rules have the option of printing the annual report or putting it on the web.
Don’t shareholders have a right to see these reports and furthermore what happened to all that talk of a ‘shareholding’ democracy in the 1990s?
Misleading
An institution where a running battle between the elected representatives and the CEO led to the subsequent suspension of the elected body is making matters worse by attempting to hoodwink its members.
A press release regarding certain events misrepresented the facts resulted in some of the elected members sending a letter of demand to the CEO asking for a public apology.
Getting hot
The Chillies, the gala Ad industry awards, is getting hotter. Drawing some kind of controversy every-time, this year one ad agency pulled out in an issue over where a foreign judge was invited and later ‘uninvited’.
Above board
The powerful head of the state agency that ‘invests’ is once again involved in ‘rumbles’ in the share market – this time over stakes in a hotel firm. His entry has also led to two factions in the board and in some cases, open clashes in the media. |
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