09-02-2003, 08:25 PM
Everywhere I go I hear that both regulatory authorities and the auditors must protect the rights of minorty shareholders. I agree with this. It is said that proper dislosures should be given in financial statements so that Minority shareholders are better able to make thier decisions.
Well a few months ago I attended AGM of a reputed and large company engaged in suger bussiness, there I met worthy minority shareholders (atleast a part of them). They fought over getting copies of the financial statements, I thought look everybody is right they are intreseted in what disclosures are in accounts, but later on I discovered that some of them were itreseted in black marketing these financials when these will not be available from KSE liabrary.
Then they started questioning the Management, guess abt what?
1. Profitablity of the company
2. Finanical position
3. Performance of management
4. Nonoe of the above.
The corect answer is none of the above (4) they demanded that
1. Factory visit should be arranged by the company (shareholders + thier families)
2. Double suger quantity should be given as gift to them
Considering above do you think they are worth figting for
Well a few months ago I attended AGM of a reputed and large company engaged in suger bussiness, there I met worthy minority shareholders (atleast a part of them). They fought over getting copies of the financial statements, I thought look everybody is right they are intreseted in what disclosures are in accounts, but later on I discovered that some of them were itreseted in black marketing these financials when these will not be available from KSE liabrary.
Then they started questioning the Management, guess abt what?
1. Profitablity of the company
2. Finanical position
3. Performance of management
4. Nonoe of the above.
The corect answer is none of the above (4) they demanded that
1. Factory visit should be arranged by the company (shareholders + thier families)
2. Double suger quantity should be given as gift to them
Considering above do you think they are worth figting for
