derek abdinor

online disclosure
mde
February 19, 2008

Consol locks stakeholders out

Author: derek - Categories: governance, investor relations

Consol Glass is a former listed company on the JSE bourse in South Africa. I wanted to see an annual report done for them for the 2006 financial year, and to my surprise found that I had to log in to view not only their archive of financial reports, but their investor press releases as well!

consol.jpg

Getting knowledge on who visits your website is invaluable information, but usually there is a transaction that has to take place. Registering for viewing information that is available elsewhere on the web is anachronistic: what service is Consol offering that is unique? Take time and effort to see Consol’s spin on things? No thanks, I’m off to Google or Moneyweb or my favourite dial-a-quote. Anyways, once you get an ID of a site visitor you can identify how long which analyst spent looking at what pages: Urgh! Creepy and probably unethical.

Injury(Insult)++, I did register and have not received my login key yet.
Methinks this Consol Glass is not transparent…

December 1, 2007

Microsoft faces shareholder activism | the membrane is translucent

Author: derek - Categories: governance, investor relations

Ex-Dallas Cowboy football player, turned Reverend of Baptist Church, is miffed with Microsoft’s ‘pro-gay’ stance. Absolutely fascinating thought this is (javascript: void (irony)), my point is thus:

By buying a share or twain he has access to the AGM where he can raise his point.

PS. Through the article, I found out about Hugh McLeod’s idea of the Porous Membrane.
PPS. Corporate Citizen 07

November 19, 2007

Rule 26 for the LSE AIM companies v PAIA

Author: derek - Categories: governance, investor relations, media

In February 2007 the London Stock Exchange (LSE) introduced new rules for companies whose shares are traded on the Alternative Investment Market (AIM), notably Rule 26 which requires listing corporate information.

lse aim

AIM Rule 26 requires all AIM-listed companies to maintain a web site displaying the details of a company’s management, corporate governance, and financial information, among other particulars. They had until August 2007 to comply. Here’s an example of the implementation.

The reason this should sound familiar to South African entities is that the requirements are almost exactly that of the Promotion of Access to Information Act, 2000. Now we have our own Alt-X and we have our own regulations on disclosure, company info and governance.

Want to see a company listed on AIM and Alt-X, and how they disclose? Pan African Resources.

Afrigator