Good week

Financial Mail - - BETWEEN THE CHAINS -

It’s not often that share­holder ac­tivism pays in SA, so when it does, it’s worth an honourable men­tion. In re­cent weeks, ac­tivist has ques­tioned how it was that Pur­ple Group, a com­pany worth R280m, was go­ing to pay R2.8m to its nonex­ec­u­tive chair­man Mark Barnes. Fac­ing Botha at Pur­ple’s AGM this week, the com­pany said the fee was “in­cor­rectly dis­closed” and was ac­tu­ally R500,000. Also, 7.4% of Pur­ple in­vestors voted against pay­ing Barnes an ex­tra R2m for rais­ing R100m for Pur­ple’s Easye­quities arm.

Theo Botha

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