COMPANY COMMENT
Rupert reminds investors how scary the world looks
Remgro chair told shareholders one of his major concerns is that people do not realise just how much trouble we’re in
Remgro annual general meetings are generally engaging affairs and worth the trip all the way out to the heart of the winelands where they’re held each year. This year, shareholders were treated to a reminder of just how scary things were a year ago on the domestic political front. And, sadly, how scary things remain for investors around the globe. Chair Johann “The Bear” Rupert told the hundreds of shareholders who had pitched up for the meeting that one of his major concerns is that people do not realise just how much trouble we’re in. The global situation is eerily like the 1920s, said Rupert. Despite concerted efforts not to be drawn on the performance of Remgro’s many listed investments, Rupert did eventually commit to taking another look at underperforming food company RCL. He also indicated Remgro would not be introducing the same sort of controversial executive incentive scheme recently adopted by its banking investment arm, RMH. Judging by the mood after the meeting it was ...
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