Who attend to AGMs?

snandasiri · 1 Who attend to AGMs? Thu Sep 13, 2012 11:59 am

snandasiri

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I'm curious to know whether anyone in this forum attend to AGMs or EGMs.
If you do please comment
If not Why? Then who went there?

K.Haputantri · 2 Re: Who attend to AGMs? Thu Sep 13, 2012 12:09 pm

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Never attended due to other commitments. Intend to attend TAJ (because of buffet) end of this month.

snandasiri · 3 Re: Who attend to AGMs? Thu Sep 13, 2012 12:49 pm

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K.Haputantri wrote:Never attended due to other commitments. Intend to attend TAJ (because of buffet) end of this month.

I also want to go TAJ AGM.But I didn't attend to any AGM.So I wanted some expert advice.If you go there can we go together? Very Happy

snandasiri · 4 Re: Who attend to AGMs? Thu Sep 13, 2012 11:09 pm

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Hey any of you didn't go to an AGM or EGM ever?
Question

Expert · 5 Re: Who attend to AGMs? Mon Sep 17, 2012 1:16 pm

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I've been to.

Sidath · 6 Re: Who attend to AGMs? Mon Sep 17, 2012 1:32 pm

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used to go. Stopped as it's a waste of time, nothing productive comes out of it, at least from my prospective as an investor. I have to travel to Colombo so not worth it

Expert · 7 Re: Who attend to AGMs? Tue Sep 18, 2012 12:12 pm

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There are many gains if you attend an AGM.

You get to see the directors of the company for real. You know, when you see the person and when they speak, you get a feeling of what kind of a person (s)he is and that can give you some idea of where the company is headed and what they could be doing behind the scenes.

You get a chance to ask questions from the directors, most often the chairman (I am yet to see a chairperson). Most of the time they answer you directly. Some a evasive some are honest; or at least appear to be honest. Remember: they live on our money!

You get some refreshments and from what I see, most of the regular attendees are after that. That is the dirtiest part of an AGM: the investors competing for their share of food :-( You will see the greed of today's investors/traders for real there.... Most of the companies do not respect the shareholders, especially the small ones and the greedy lot do not seem to have the dignity of an owner of a company.

Sometimes you get a small gift from the company. Though it may not be of much value compared to your investment, it can be a souvenir to you.

And you get a chance to see and meet with other investors. Most of the time, you see the same lot appearing at every AGM; no matter what the company is.

zen · 8 Re: Who attend to AGMs? Tue Sep 18, 2012 1:04 pm

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I went to GLAS AGM. A lot of old uncles were there. The investors and the directors rubbed each other's backs and all the decisions were unanimously passed. It was a good experience nevertheless. Every investor should go to atleast one AGM to see how it's like.

snandasiri · 9 Re: Who attend to AGMs? Wed Sep 19, 2012 12:25 am

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Expert wrote:There are many gains if you attend an AGM.

You get to see the directors of the company for real. You know, when you see the person and when they speak, you get a feeling of what kind of a person (s)he is and that can give you some idea of where the company is headed and what they could be doing behind the scenes.

You get a chance to ask questions from the directors, most often the chairman (I am yet to see a chairperson). Most of the time they answer you directly. Some a evasive some are honest; or at least appear to be honest. Remember: they live on our money!

You get some refreshments and from what I see, most of the regular attendees are after that. That is the dirtiest part of an AGM: the investors competing for their share of food :-( You will see the greed of today's investors/traders for real there.... Most of the companies do not respect the shareholders, especially the small ones and the greedy lot do not seem to have the dignity of an owner of a company.

Sometimes you get a small gift from the company. Though it may not be of much value compared to your investment, it can be a souvenir to you.

And you get a chance to see and meet with other investors. Most of the time, you see the same lot appearing at every AGM; no matter what the company is.

Thanks.

Expert · 10 Re: Who attend to AGMs? Wed Sep 19, 2012 10:44 am

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You are welcome!

If you happen to go to many AGMs, you will notice that you will listen to the same people most of the time and they say the same things at every company's meeting.
As zen said very correctly, there are some well known guys who love to scratch the backs of the directors; I don't know why.
There is one Mr Wijeweera who poses questions and he himself answers them; when he starts speaking, others start shouting; even some chairmen ask him to "keep it short" when he starts.
There is another guy who always ask the directors to buy shares (most directors in the CSE listed companies do not own shares of such companies directly - this is something SEC should make note of and impose rules to disclose even indirect share holdings and indirect dealings on them) even when they are independent directors. His argument is that directors' share purchases will increase the share price; he never thinks about the opposite side of that.

Chinwi · 11 Re: Who attend to AGMs? Wed Sep 19, 2012 11:27 am

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You may see same set of people in most of the AGMs. Some are old aged small scale gentlemen visit as a hobby.
There is a gang come to all the AGms. They come for food. Most of those attendees are not the actual shareholders. They somehow get a proxy form and come as proxies.

Ugliest thing is you, as a owner of the company , has to watch those bgrs fight to collect food prepared for you into their bags. Most of the time , decent people left with nothing.

Due to this reason most of the companies has stopped giving good quality food in open tables and they schedule many meetings in same day. Now they give you a food token to avoid fighting.

When I was in CMB, I used to attend, in-order to learn future plans of the companies. Now a days they disclose almost nothing.

There is another set of guys. They come to address the meeting. One part do b..ll polishing of the directors while others make big noise about something they find in the reports. They do same thing in all the AGMs wasting our time.

Famous fellow of the first type is one Wijeweera. The well known secret is that both types get benefits from big people.

As "Expert" said you can have some fun with those people.

smallville · 12 Re: Who attend to AGMs? Wed Sep 19, 2012 12:19 pm

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I've never attended one.. Just cuz Chinwi said so I wanted to attend one and see this fun Wink

Expert · 13 Re: Who attend to AGMs? Wed Sep 19, 2012 2:45 pm

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Dear Chinwi,

There still are some chairmen who are humble enough to let the shareholders know their future plans and expectations. The just do not go through the agenda but take some time to address the gathering. They are not in a hurry to finish the AGM and run away, like most shareholders who attend the AGMs.

And also, there are some directors who will not even answer your questions saying that their competitors could be among the participants of the meeting, though they screen and take in only the shareholders and their proxy holders.

And smallville, if you happen to go, you sure will feel disgusted about today's shareholder though you may have some fun watching them (silently). If they distribute the food as the people arrived, or a token is given at the beginning, you will be able to see how many would collect their food and leave without even waiting for the meeting. As Chinwi says, there are companies who are ready for all these types of shareholders. But there are some directors who would have fun, by making sure that there is a food shortage (even at their own venue) and you will be able to see the greed and competition among the 'owners' of such a company.....

snandasiri · 14 Re: Who attend to AGMs? Thu Sep 20, 2012 12:30 am

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Thanks Zen, Expert and Chinwi.

smallville wrote:I've never attended one.. Just cuz Chinwi said so I wanted to attend one and see this fun

As smallville, I also wanted to attend one to see the fun. Hope to go Taj on 25th.
Very Happy

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Who attend to AGMs?

1 Who attend to AGMs? Thu Sep 13, 2012 11:59 am

snandasiri

2 Re: Who attend to AGMs? Thu Sep 13, 2012 12:09 pm

K.Haputantri

3 Re: Who attend to AGMs? Thu Sep 13, 2012 12:49 pm

snandasiri

4 Re: Who attend to AGMs? Thu Sep 13, 2012 11:09 pm

snandasiri

5 Re: Who attend to AGMs? Mon Sep 17, 2012 1:16 pm

Expert

6 Re: Who attend to AGMs? Mon Sep 17, 2012 1:32 pm

Sidath

7 Re: Who attend to AGMs? Tue Sep 18, 2012 12:12 pm

Expert

8 Re: Who attend to AGMs? Tue Sep 18, 2012 1:04 pm

zen

9 Re: Who attend to AGMs? Wed Sep 19, 2012 12:25 am

snandasiri

10 Re: Who attend to AGMs? Wed Sep 19, 2012 10:44 am

Expert

11 Re: Who attend to AGMs? Wed Sep 19, 2012 11:27 am

Chinwi

12 Re: Who attend to AGMs? Wed Sep 19, 2012 12:19 pm

smallville

13 Re: Who attend to AGMs? Wed Sep 19, 2012 2:45 pm

Expert

14 Re: Who attend to AGMs? Thu Sep 20, 2012 12:30 am

snandasiri

15 Re: Who attend to AGMs?

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