Dear readers, I read in an article this morning that some investors had raised their voices at the trustee of Sabana Industrial Reit in the question-and-answer segment of the Reit’s EGM on 8 Mar 2024.
The EGM was convened to table 10 resolutions on how the trustee should handle the internalisation of Sabana Industrial Reit.
The resolutions were proposed by activist investor Quarz Capital Asia and unitholders of Sabana Reit have voted for nearly all the resolutions.
I am not familiar with the developments for Sabana Industrial Reit but reading the article had I recalling some of the AGMs of the listed companies here which I have attended.
Often, during the Question-and-Answer segment of the AGMs, shareholders, big or small ask questions. And it is only right for shareholders to do so, given by virtue of being shareholders, shareholders including minor shareholders have a stake in the company. All shareholders hence have the right to question the management of the listed companies on details and direction of the company’s businesses.
But most of the time, even if some of the shareholders who asked questions had also raised voices at the management in the AGMs that I have attended, the answer from the management of the listed companies is something to the effect that of some generic comments or that they have noted the shareholders’ comments and might consider them.
Unless the question came from a major shareholder, then that question could have carried some weight for the company’s management.
And not to mention, some of the attendees at the AGMs seemed to express interest for the Question-and-Answer segment to end fast so that the post-AGM buffet reception could start earlier. There were even some who left during the Question-and-Answer segment to form a queue at the buffet counter way before everyone else came out!