This website uses cookies. Read more. Okay
22 Oct 2014

Foord's Position On PPC

Foord Asset Management is a long-term investor in PPC Limited. We are concerned that the recent conduct and decisions taken by the current PPC board of directors may prejudice the long-term interests of our investors.

In addition, we believe that PPC employees, executives and project partners in Africa are also dissatisfied with the board's efforts to resolve the company's leadership impasse. In our view, the current board must be replaced with a functional board without delay. The new board must immediately implement measures to stabilise PPC's executive team, ensure continuity of its strategy of expansion and restore the confidence of its employees.

The Companies Act of 2008 enables shareholders owning at least 10% of the voting rights of a company to demand that the company convene a special general meeting to consider specified resolutions. Foord, together with other shareholders, has asserted the rights of its investors in terms of this rule and has called on the PPC board to convene a shareholders' meeting aimed at reconstituting the board of directors.

We believe that it is imperative for all shareholders to be given the opportunity to vote on a resolution to appoint new directors who can guide the company through this strategically important phase of its expansion. To this end, Foord, together with its partners, has collated a list of experienced candidates that it considers would be best suited to this undertaking and will continue to press for the rights of its investors.

Insights

08 May 2025

MARKETS IN A NUTSHELL — FOR APRIL 2025

April began as if the markets had fallen victim to an April Fool’s joke — but investors weren't laughing. US President Trump’s much anticipated ‘Liberation Day’ tariffs took effect on 2 April, and all countries…

Read more

25 Apr 2025

Investing With Confidence for Safety and Growth

In an increasingly unpredictable global market, uncertainty continues to dominate the investment landscape. From inflation and interest rate volatility to geopolitical conflict and currency instability, investors…

Read more
newsletter subscription