Bullish Thoughts read with interest the various commentaries about the journalist who claims to have been “deliberately” infected with deadly HIV by an “honourable” MP. Bullish Thoughts will not belabor the debate but just to say in this day and age, why do such risk behaviors happen? If that journalist were Bullish Thoughts’ investment manager, (s)he would have been fired whilst in the middle of making the police report!
Such risk taking and on “toxic” assets borders on criminality…Talk of fiduciary responsibility! Perhaps morality punters may want to short-sell the society because at this rate….it’s free fall!
Related Party Transactions
Talking of the moral high-ground, does it take a committee to see that something is crudely inappropriate? Only in private equity deals or in a concluded corporate activity/ deals do you get a competing business manager to sit in a company’s board.
Unless if Bullish Thoughts is missing something? Maybe like they say in that Nedbank Capital advert, the businesses are perhaps going to eeeeh …..mergein the not so distant future!Perhaps some of us are just novices in these Corporate Governance issues.
After all, the impossible is now possible. (Star)africa did lose more than 11c since NSSA messed up and is currently sitting 0.9c. So yeah, anything is possible but in the meantime….something is definitely wrong with the corporate and regulator world. You just need to look at the composition of the IPEC Board for starters…Treasonous to say the least!
Messina Investments: Will it ever get an RTG board seat?
29 June is the day for the RTG AGM and as has become the ritual, principal shareholder in Messina Investments (which holds a substantial 30%+ stake in RTG), Nic Van Hoogstraten will be seeking shareholder approval/ confirmation of his 4 board nominees (two of which are the fruits of his loins) to the RTG board.
He has tried having nominees before but he has been repeatedly blocked. Unlike Dairibord which eventually decided to get rid of Interfresh stock after its 20% stake failed to get it a board seat, Nic doesn’t give up.
Bullish Thoughts is still a corporate novice and can’t really wrap his head around why Nic can’t get to nominate a director to the Board given the extent of his shareholding. Is it a question of a radically different business strategy? Or maybe the caliber of the directors he brings to the table? On the latter, Bullish Thoughts wondered if say theoretically Nic brings a man of impeccable record like Joe Mtizwa as his nominee, would he not get the board seat?
Bullish Thoughts couldn’t locate his Companies Act as he would have wanted to read around the issue of director nomination. Some, the request goes out: May the corporate lawyers out there advise if it should be that difficult to get a nominee to the board of directors if you are a significant shareholder and under grounds and conditions should that happen.
Bullish Thoughts is waiting to see the outcome of the AGM. Will Nic finally get it his way?
ReNaissance Securities suspended for 6 months?
Bullish Thoughts just wondered if SEC intends to have ReNaissance Securities back on the local ZSE bourse again. A six months suspension? How will the firm survive without any trading activities & revenue given that most stockbroking firms are just breaking even with current business volumes?
Invest Wisely!
Bullish Thoughts
Email: bulls@bulls.co.zw
Twitter: www.twitter.com/BullsBears2010
Blog: http://bullsnbearszimbabwe.blogspot.com/
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