How a Spur director made history with big ‘no’
Spur’s recently appointed nonexecutive director Tasneem Karriem has made JSE history by scoring an unprecedented 41.3% "no" vote against her appointment as a director at the group’s annual general meeting on Friday. Karriem was nominated to the board by Grand Parade Investments (GPI) earlier in 2017 in terms of an empowerment transaction concluded between Spur and GPI in October 2014. Her nomination comes after Alan Keet resigned from the Spur board after earlier resigning from GPI in April. At Friday’s meeting, shareholders were asked to confirm Karriem’s appointment. Only 58.7% of those attending voted in favour. As it was an ordinary resolution requiring only 50% backing, this was sufficient to secure her appointment. Karriem, CEO of GPI, is a qualified chartered accountant and was in senior management with EY’s transaction services team. She joined GPI in July 2015 to head its corporate finance activities and was appointed to the board in September 2016. Vunani Securities’s Anth...
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