Johannesburg - Shareholder activism raised its head at Telkom's annual general meeting (AGM) yesterday, when one investor, who owns just 19 shares in the telecommunications group, tried to have the meeting nullified.
The shareholder claimed that the agenda for the meeting had been structured to exclude important items from being discussed.
He said the notice sent to shareholders telling them of the meeting had given the wrong address.
He argued that the vagueness of the notice was so serious that resolutions could not be passed.
The disgruntled shareholder, who was said by other shareholders to be making his way from one company's AGM to the next, threatened to walk out of yesterday's AGM.
However, he finally decided to be an observer, instructing Telkom's non-executive chairman, Nomazizi Mtshotshisa, to note his concerns in the minutes of the meeting.