“ Please note that only some refreshments will be served to the shareholders the Annual General Meeting but no gifts will be distributed”
Please check your copy also... anyway what do you think about the note ?
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npp wrote:maybe to stop the gift scavengers from attending AGMs with a handful of shares
I too haven't been to an AGM but would like to participate if any AGM is schedule when I am Sri Lanka (Currently I am living overseas). As genuine investors we don't need any gift but if we can listen to the chairman about their future plans and prospects, that would be great.npp wrote:I haven't been to an AGM yet but i have the genuine interest of going for one to see the proceedings first. I too am happy that it has stopped. After all it is not worth for people who have 100 shares to get to much freebies which in the end is borne by the genuine shareholders
@xhora wrote:who knows this time they may come for the 'Refreshments"
@Chinwi wrote:May I tell you the real story ?
Last few years, at the AGMs of all RICH family plantations they gave very good quality big packets of tea they produce to all the shareholders. As many had shares of all the plantations (at least 100 each) people got 3-4 packs and for many husband and wife teams 8 packs. For some families dozens.
The news spread year by year and at last year's AGM there were 1000s of people in Navinna came to collect the gifts. The staff tried very hard to control the big crowd and sometimes they ( staff) were humiliated by some bad people came just for gifts. They openly shouted "we came here to get our parcel" The big hall at Navinna was fully packed with the "gift seekers".
Some shouted even at the meeting as they couldn't get their full portion. The staff was very upset after the days of hard work. Container loads of tea parcels they packed were not enough and Dr. Yaddehige ordered the staff to get the details of the people who left with no gifts and actually they arranged a later date for them to get their gifts.
There were thousands of people, majority had no interest for participating in the AGM . After struggling in the staircase I managed to enter the hall.
Actually , after the meetings, I personally requested the Chairman and the staff not to continue this next year. Not only me, many genuine shareholders were very upset about the happenings.
I am very happy to get the "No - gifts" note, now we can listen to the Chairman about the future plans and prospects of the company and then decide about our holdings.
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