I’m all for shareholder activism. Too often management whose interests are not aligned with shareholders’ ride roughshod over the rights of shareholders.
For this reason the efforts of shareholder activists like Theo Botha, Chris Logan and Albie Cilliers must be applauded. It is horrifically difficult to take a stand as a small shareholder and see it through to the end. It requires the tenacity of a Jack Russell, the thick skin of a rhino, the time of the elderly and when it gets legal, lots of cash.
Most institutional investors prefer to engage with management teams behind the scenes. But smaller investors do not always have that kind of access or clout.