Telkom splutters over register mystery

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mystic

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http://www.businessday.co.za/articles/bottomline.aspx?ID=BD4A115854
The Companies Act says a firm must keep “a register of its members” either by “entries in bound books” or through “recording the particulars” in a way which forms a “durable or sustainable medium”.

But despite the fact that Telkom is the ninth-largest company listed on the JSE, it appears to certain shareholders that Telkom doesn’t have such a register.

Adv Michael Alachouzos, shareholder and critic of Telkom, says there is “much hanky panky going on, but the fact is that if it has no members, it cannot even hold any valid general meeting of any sort”.
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Thx to Rob Rose and Business Day for a great write up.

Alacous, great stuff.

Telkom’s staff are contradicting each other at every turn but if it does exist, the company seems to be going to extraordinary lengths to hide it.
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Kinda like that feeling when the dentist hits a nerve.
 
I reckon an easy way for us to get behind this is for anyone that holds Telkom shares to call their legal department and request to see the register.
Then document the run-around that Telkom gives you - record the call if you can.
Thereafter lodge a formal complaint with the Registrar of Companies - lets put 450+ complaints in with them to let them realise that people won't let this slide!
 
Now here is something that is going create nervous investors! I agree lewstherin we must advertise this point as much as possible.
 
ROFL
It's becoming more clear day by day just how incompeten Telkom is. I hope people realise that the reason for them making buckets full of cash is not due to "highly compotent staff", but due to the bliss found in having a monopoly.
 
Curious, what was the reason given for the latest proposed share buy back?
 
Who is Telkom's company secretary? This is the person who is obliged to ensure that legal requirements are met.
 
"Curious, what was the reason given for the latest proposed share buy back?"

I think it's a way of getting round tax, instead of paying dividends.
 
Its an electronic share register folks. Its automatically update by the CSDPs and STRATE. Computershare will have the info
 
I think that the problem is that there are a lot of people from our government and DoC who got a lot of Telkom shares and don't want it to be published.
 
Me agrees with alot of the sentiments here... they dont want to disclose it 'cos it has high ranking officials in it... so showing it will incriminate.
 
The board of directors (if Telkom has them?) should be arrested for their Corporate Governance record. Methinks if such an audit were to be performed on Telkom, it would be an excellent case study for the textbooks on how NOT to do Corporate Governance.

Isn't it funny just how many more issues are starting to pop up that relate to Telkom, simply because they refuse to lower their prices (and improve their customer service)? Monopoly or not, when a company goes against the wishes of its consumers, SOONER OR LATER it will regret it!!!!
 
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Hey All,

I'm a noob with law and all that - what's the importance of the member register?
 
lukev said:
Hey All,

I'm a noob with law and all that - what's the importance of the member register?
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it lists all the people/companys that own Telkom and how many shares they have. (amongst other things)
 
mozez said:
Monopololy or not, when a company goes against the wishes of its consumers, SOONER OR LATER it will regret it!!!!
Click to expand...

Hehe, to quote Papi's own personal philosophy, 'You reap what you sow'.
Papi better add one more 'pillar' to his strategy, a pillar of ****!!
 
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