Shuttleworth funds anti-Telkom campaign
The Telecoms Action Group (TAG) has recently received funding from IT Billionaire Mark Shuttleworth, and is using some of these funds to try to ‘kick Telkom where it hurts’.
Speaking recently at the iWeek conference, lawyer Michael Alachouzos said that the best way people can put some pressure on Telkom is to become shareholders of the company.
According to Alachouzos any shareholder, even people with a single share, has various rights, including looking at the company’s share register and attending its Annual General Meetings.
Alachouzos further said that any 100 shareholders of a company can convene a general meeting, giving this congregation certain rights. Alachouzos pointed out that the TAG has a lot of shares, and have started to hand out these shares to individuals with the aim of eventually convening such a meeting.
Alastair Otter, co-founder of TAG, pointed out that while money from the Shutlleworth Foundation is funding this project, the Telkom shares were bought with money left over from consumer donations for the TAG’s initial advertising campaign.
So far the TAG has transferred shares to around 70 individuals, but it is an ongoing project which is expected to reach many more individuals in the next few months.
Otter said that while the Shuttleworth funding does not run into millions, it supplies the TAG with the needed resources to fund the ‘Telkom-share campaign’ as well as other initiatives in the consumer space.
Loading ...