Shareholders are continuing to pushback against under-performing boards and executive remuneration polices as investors take more active roles in holding executives to account.
Below are a couple of interesting shareholder votes taken this week:
1. Property group Sirius Real Estate saw 30.45% of shareholders voted against the company remuneration policy proposed at the AGM
2. AEP Energy Africa saw 50% of shareholders vote against the proposed remuneration policy and the implementation report
3. Property group GRIT Real Estate saw significant pushback from shareholders around the proposed remuneration policy with the company calling for engagement with shareholders on the matter
4. Trans-Caledon Tunnel Authority has reported a “Reportable Irregularity” to the police as they appear to have uncovered corruption related activities during a forensic investigation.
5. TISO Blackstar saw pushback on a number of issues with 30% voting against the proposed remuneration policy, 17% voting against the re-election of two directors, 29.7% voting against proposed political donations.
It is clear that shareholders are demanding more accountability from their boards.