This report shows public data only. Is this your organisation? If so, login here to view your full report.
You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes
The underlying asset managers were required to indicate the nature of their votes for the Steinhoff Africa Retail annual general meeting which was on 15 March 2018. We also engaged with all the managers to understand their holdings and why they didn’t hold the stock as well and what proportion was ESG consideration and what was just pure valuation.
The Underlying asset managers provided reasons and an estimation on the result of the AGM
The last quarter of 2017 the Resilient stable ( Resilient, Fortress , NEPI - Rockcastle and Greenbay) had allegations of inflating the share price and volumes traded through insider related transactions this led to a fall in the share price of 8.5%.
Time period of performance still to be determined
Capitec faced allegations of resheduling loans that are in arrears this led to a 25 % fall in the stock price. These allegations were detailed in a report by Viceroy. Prior to the report an external manager with interest in Capitec holdings had concerns of their accounting and businesses practices as part of their ESG review. However these circumstances brought forward the uncertain process of activism and the motives of certain activitst acts.
In the end there was no real concern about the liquidity and solvency of Capitec. The stock price increase by 15%.