COMPANY COMMENT: Lone investor tackles Distell on reshuffle
Cilliers, who is a private investor, has a small stake in Distell and is now preparing to take on one of the biggest forces in the country.
Back in 1980, Lord Denning, Britain’s most famous judge at the time, threw out a civil action by the "Birmingham Six" against West Midlands Police.He described the prospect that six Irish people were right and the police were wrong as an "appalling vista". The six Irish alleged the police had beaten confessions out of them. The situation in Stellenbosch is not quite as dramatic. But anyone who attended the Distell annual general meeting in October and noticed the small army of corporate and legal advisers might see some similarities with Albie Cilliers’s takeover regulation panel (TRP) challenge. Cilliers, who is a private investor, has a small stake in Distell and is now preparing to take on one of the biggest forces in the country. The implications of his success might not be appalling, but they will certainly be significant. While most minority shareholders seem happy that Distell’s pyramid control structure is about to be collapsed, Cilliers is unhappy about the terms of the col...
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