COMPANY COMMENT: Adcorp is in danger of losing big shareholders
The group has also shelved plans to list its international businesses in Singapore
Investors in Adcorp will be closely watching its shareholder register for clues to whether any of its biggest institutional investors have thrown in the towel on a staffing company that appears to be losing its way, following a warning to investors that it expects a headline loss for the full year. At the end of April, Investec Asset Management was still its largest single institutional shareholder, with 4.99% of the shares, although that exposure is less than it once was. Adcorp’s shares enjoyed a reprieve in February, rallying close to 14%, but Monday’s fall took its losses in 2017 to 20.15%, capping a woeful three-year performance.AngloGold Ashanti has notched up an impressive safety performance, recording its first fatality-free March quarter, which is traditionally a tough one when the mines are ramped up after the year-end break. All the more remarkable is that the South African operations have gone for nine months without a fatality. This is the company that had a legal spat ...
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