Dissident Burger King SA franchise shareholders frustrated as meeting called off
The disgruntled investors are pushing for directorate changes at GPI, which holds the master franchise for the fast-food chain
Dissenting shareholders pushing for directorate changes at Grand Parade Investments (GPI), which holds the master franchise for Burger King in SA, were left frustrated this week when an extraordinary meeting was adjourned before shareholders could vote. The extraordinary meeting on Wednesday had been called by the discontent shareholders so they could vote on the appointment of four new directors who they hope will bring new skills to the table as the empowerment investment holding company, which holds gaming and food interests, has lost 68% of its share price value since reaching a high of R7.65 in 2014.
Jarred Winer, a representative of one of the disgruntled shareholders, told Business Day it was evident from the meeting that there was a lot of support for their intervention. Hundreds of shareholders were in attendance. “We’re looking at ways to take this forward,” said Winer. On Thursday the company told shareholders it would let them know by Friday of the time, date and ...
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