Fedusa heads to Steinhoff offices to get access to company records
The Federation of Unions of SA (Fedusa) and its largest affiliate, the Public Servants Association (PSA), is to visit the Stellenbosch offices of troubled global retailer Steinhoff on Friday, to demand access to the company's records in terms of section 26 of the Companies Act. The two organisations have an interest in protecting the pension fund investments of their members, the majority of whom are public servants and members of the Government Employees Pension Fund, which invested in Steinhoff through the Public Investment Corporation. "The Companies Act determines that any person who holds or has a beneficial interest in any securities issued by Steinhoff has a right to inspect and copy the information contained in the records of the company, as well as any other information to the extent granted by the memorandum of incorporation,” Fedusa general secretary Dennis George said in a statement. “Our attorneys already informed Steinhoff in the prescribed manner and in writing accord...
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