Brimstone takes leaf out of Warren Buffet’s book

Roughly 300 captains of industry, small investors, celebrities and sports stars yesterday converged at the Old Mutual School in Cape Town for JSE listed Brimstone Investment Corporation’s Annual Meeting (AGM).

While most locally listed company AGM’s tend to be rather dull affairs, Brimstone’s event lived up to its reputation of being the South African version of Warren Buffet’s Berkshire Hathaway shareholder gathering each year in Ohama, Nebraska.

Hundreds of small shareholders from around the country attended the AGM along with leading politicians and some of the country’s top businesspeople from a diverse range of industries.

Since its listing in 1999, Brimstone has had a long standing tradition of bringing its diverse shareholder base together, enabling its stakeholders to grasp a stronger understanding of the company they have invested their hard earned money in.

“Shareholders should understand they have the power to influence and shape the destiny of companies. The cumulative impact of shareholder involvement is important for the success not only of their respective investments but of the economy at large, “says Brimstone Chairman Prof Jakes Gerwel.

Fred Robertson, executive deputy chairman of Brimstone adds that it is for this reason that Brimstone has always provided a unique AGM platform aimed at raising awareness of the importance of shareholder engagement.

“As a company that prides itself on being socially relevant, we believe we have a responsibility to our longstanding shareholders and our employees, many of whom are from disadvantaged backgrounds, to engage with them on issues that are pertinent to their lives”, says Robertson.

The event also provided an opportunity for the array of companies in which Brimstone is invested to showcase their wares and for shareholders to come into direct contact with their underlying investments.

“We believe that providing our investee companies the opportunity to erect stalls at the AGM and to interact directly with our stakeholders is a great profiling opportunity for their businesses, brands and product offerings. This is typical of Brimstone's commitment to enhancing the businesses of companies in which we are invested,” says Robertson.

Being a valued Brimstone partner, Nedbank’s director of corporate affairs, strategy and marketing, Pinky Moholi says “We are excited about this new generation of shareholders and the part that Nedbank isplaying in encouraging ordinary South Africans to grow their wealth.'

“We fully support Brimstone’s approach to engaging closely with its shareholders and business partners,” says Old Mutual South Africa MD, Paul Hanratty. “Brimstone’s ability to add value to the companies with which it does business is one of the key reasons why Brimstone was included in Old Mutual’s R7.2 billion BEE deal concluded in 2005.”