Jardines faces another shareholder revolt

Minority shareholders led by Brandes ready a new challenge to Group cross-shareholding at the upcoming AGM.
April 19, 2001
In April 2000, a group of minority shareholders in Jardine Group staged a rebellion against the defensive cross-shareholdings between Jardine Matheson and Jardine Strategic Holdings at the Groups annual general meeting in Bermuda. It was a moment of high drama for Hong Kongs original great firm, and highlighted how bad corporate governance practices have led to its decline. The rebels lost that battle but are gearing up for a new attempt to change Jardines ways and perhaps return it to its former glory.

Brandes Investment Partners, a California-based investment advisory firm, has recently notified Jardines of four resolutions it will formally propose at the next AGM, to be held on...

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