DIRECTORS of Sovereign Food Investments deny it, but the company is adopting an empowerment scheme to ward off takeover attempts by larger poultry rivals. In creating this “friendly” voting block with management participation, Sovereign has the support of influential institutional investors Prudential, Sanlam and Old Mutual. In addition, the JSE’s “big bird”, Astral Foods, which recently [...]
The JSE-listed companies that are under-valued and unloved but which show promise. The JSE is trading on a price:earnings multiple of 19.6, well above its ten-year average of 16.2x. While valuations are still high, in many cases share prices have retreated slightly and for those prepared to do the legwork, value can be found. The [...]
Asief Mohamed doesn’t look like your average flame-thrower, but this quietly spoken man, who heads up boutique asset management firm Aeon Investment Management, believes corporate South Africa needs a fire lit underneath it. He is leading the charge, along with fellow shareholder activist Chris Logan, to ring some changes in the executive pay structures at [...]
A TOP fund manager has slammed the board of directors at Eastern Cape-based poultry producer Sovereign Food Investments for not exercising their fiduciary responsibility to act in the best interests of shareholders. In a letter seen by Business Day, Aeon Asset Management chief investment officer Asief Mohamed argued that by significantly lowering a performance threshold, [...]
Global operations lift Aspen’s earnings SOUTH Africa’s biggest drugs manufacturer, Aspen Pharmacare, on Thursday reported a 14% rise to 423.6c in diluted headline earnings per share for the six months to December, as growth in its international business compensated for the pressure facing its domestic operations. Its performance stood in stark contrast with that of [...]
WHEN Asief Mohamed, the founder and chief investment officer of Aeon Investment Management, walked into his office after the Christmas break, the message that scrolled across his computer screen read: “The future isn’t what it used to be”. It was an apt welcome to 2016. Within days of markets opening, more than US$2.3trillion was wiped off [...]
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Business Day BDLive - 31 March 2013 Chris Baron ..."I have never seen Saad being rude or bombastic, but I wouldn't be surprised if he loses his cool with someone who is not performing and makes a decision to cut him quite quickly," said Asief Mohamed, chief investment officer at Aeon Investment and a Bidvest [...]
Business Day BDLive - 27 March 2013 Tamar Kahn ..."They should disclose it," agreed Aeon Investment Management’s chief investment officer, Asief Mohamed..."There is nothing that the shareholders would find in there that would cause them any concern," he said. "I think in the scenario where the transaction does not go ahead, we would find ourselves [...]
