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If you’re a company whose share price is less than a third of where it was seven years ago and you’re facing a R900m tax bill, you’d welcome the opportunity to speak to shareholders at your AGM, right?

And yet Coronation Fund Managers — the third-largest fund manager in the country, which manages the pensions of thousands of South Africans and knows a thing or two about markets — scheduled its annual meeting for 2pm on Wednesday February 22. To most people in the financial community, this would have triggered a few bells, as it was precisely the time that finance minister Enoch Godongwana stood up to present his annual budget. ..

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