THE annual general meeting (AGM) of internet, media and entertainment giant Naspers on Friday showcased promising new e-commerce ventures, but might be remembered more for a tense sideshow when chairman Koos Bekker threatened to remove shareholder activist Theo Botha. At the meeting, Botha requested access to a restricted stock plan trust deed (presented to shareholders at 2015’s AGM) that entails incentives for mainly middle management and specialists at Naspers.Botha told Business Day: "Naspers have operations all over the world. We want to be able to hold Naspers to account about what is contained in the trust deed."At the meeting, Naspers company secretary Gillian Kisbey-Green reiterated an opinion given weeks ago to Botha that the statutory window for viewing the trust deed was closed. She argued that the trust deed was not a public document, and Naspers would set a precedent by making an exception of providing documents outside of the statutory window.When Botha persisted with...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now