THE PPC share price is battling to recover from the depths to which it plummeted last month, when it revealed it would urgently have to raise about R4bn from its long-suffering shareholders. At the time, it dropped from R15 to R9.50.More significantly, the PPC share price of R10.44 is less than a third of the value it was trading at in September 2014, when a boardroom spat hit the headlines.It was one of the most fascinating corporate battles yet in SA, pitching high-profile directors against each other. CEO Ketso Gordhan was battling to impose his will on the board; Tryphosa Ramano, the chief financial officer, was having none of it, she pushed back; Gordhan miscalculated and soon found himself on the outside, trying to get back in.Most institutional shareholders, who abhor public spectacles, backed the Ramano camp.By the time of the annual meeting in January 2015, the battle had fizzled out and Gordhan, who had earlier spent R20m of his own money buying PPC shares, headed off into...
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