NZ Shareholders Assn

[Lawso]

After a slow start, when nothing much happened in the first year and members barely got their money's worth, the NZSA has made a significant impact on the listed companies scene over the last couple of years. Through direct representations to boards and management or by speaking out at shareholder meetings or through the media, the Ass'n has made companies re-examine their governance, remuneration policies, audit practices etc, and has also given a rev up to some of the sleepy instos which would never say Booh in public or stand up and be counted at meetings. I suspect there is now no listed NZ co'y that is not aware of the NZSA and doesn't ask itself how any particular policy or practice might be perceived by Sheppard & Co.
In Auckland the Ass'n runs half-day courses for novice investors, organises group visits to, e.g. NPX, WHS and POA and has had speakers like T Gattung, M Weldon and P Masfen at meetings. All the work is done by unpaid volunteers, of course. (I'm not one of them - just a rank & file member.)
There are four branches in the North Island, none so far in the SI. Total membership only about 600 - a pathetic number.
It would be interesting to know how many STers belong to the NZSA and, of those who do, do you regard your $100 subscription as money well spent?
For those who are not members: Why not? Not interested? Not worth the money? No local branch? BS gets up your nose? Or what? Would cutting the sub to $50 change your mind?

[Gryffyn]

http://www.sharetrader.co.nz/topic.asp?TOPIC_ID=20247

was started just a few days ago on this topic :-)

[Lawso]

Sorry - don't know how I overlooked it [B)]

[duncan macgregor]

You forget one thing guys There Is money to be made reading between the lines. The salted gold mine etc. I dont want It squeeky clean a cunning old bugger like me would have to revert to a TA system. CHEERS MACDUNK

[Lawso]

Dunk: [?] [?]

[Capitalist]

quote< Total membership only about 600 - a pathetic number.
It would be interesting to know how many STers belong to the NZSA >

Not many I would think. Maybe because most here can see through the self-aggrandizing Sheppard. He is extremely selective about the companies he turns his attention to, and only chooses those who will give him maximum publicity.

Fo example he says nothing about Ilion Technology and the $7m lawsuit going on at the moment, in spite of, or maybe because of, being personally involved in this company(not in the lawsuit I hasten to add).

[Gofish.]

Not a member, but think he has done well for small shareholders.
Anyone who has spent time doing voluntary work knows that you have to focus - you can't do everything "and only chooses those who will give him maximum publicity" shows that he is smart in his tactics rather than dissipating his effort.
Also good to expose the tall poppy choppers.

[MeNoBatty]

quote:Originally posted by Capitalist

quote< Total membership only about 600 - a pathetic number.
It would be interesting to know how many STers belong to the NZSA >

Not many I would think. Maybe because most here can see through the self-aggrandizing Sheppard. He is extremely selective about the companies he turns his attention to, and only chooses those who will give him maximum publicity.

Fo example he says nothing about Ilion Technology and the $7m lawsuit going on at the moment, in spite of, or maybe because of, being personally involved in this company(not in the lawsuit I hasten to add).


Cap, I am sure that Sheppard would not want you reminding too many people about his involvement in Ilion, Phoenix and the whole Johannink fiasco. ;) It must be a constant thorn in his side. He has to be a bit selective as the past continues to haunt him, methinks.

[Steve]

Please expand...

[MeNoBatty]

Share activist involved with lossmaker
Deborah Hill Cone

BRUCE SHEPPARD: Mate and promoter of Robin Johannink




Shareholder-rights crusader Bruce Sheppard yesterday defended his close links with Robin Johannink, the controversial venture capitalist who raised and lost more than $65 million in startup companies and has been thrown out of his offices for unpaid rent.

Investors hurting after losing millions in ventures Mr Johannink promoted *-- including Ilion, Virionyx, Diatranz and Vortec --* say there is some incongruity in the involvement of Mr Sheppard, best known for taking company directors to task over what he sees as corporate excesses.

"He's a great mate and promoter of Johannink [but] Robin Johannink is everything Bruce Sheppard advocates not to be," one shareholder who lost "serious money" said.

Some of the country's smartest business brains, including tourism pioneer Chris Alpe, software tycoon Murray Haszard and Warehouse founder Stephen Tindall, poured millions of dollars into the companies --* $20 million into Ilion in Mr Haszard's case *-- and their shares are now either worthless or virtually worthless.

Other less wealthy shar eholders bought into Johannink-linked companies on the recommendation of Peter Russel, an accountant facing Serious Fraud Office charges over the Digi-Tech tax investment scheme.

Mr Johannink has been criticised by out-of-pocket shareholders for charging large management fees and for being extravagant with company cash, including buying first-class airfares, leasing an apartment in New York's Trump Towers and leasing glitzy offices in Auckland's Vero Centre.

Mr Sheppard, who founded the Shareholders' Association, has been Mr Johannink's accountant for nearly 20 years and is a director of Johannink Investments alongside Mr Johannink, Companies Office records reveal. The company is owned by other members of the Johannink family.

But Mr Sheppard said although he was Mr Johannink's accountant, he was just as vocal about corporate excess with Mr Johannink's companies as he had been with major listed companies.

He had stood up at shareholder meetings and "chewed the sh*t out of the board" over issues, including Ilion's cash burn rate when it was churning through $1 million a month.

"As a shareholder I would say I did not like this and I would soften down the gross excesses of it."

Mr Sheppard was an investor in some of the companies, had personally lost money, and also had clients who had lost money.

Mr Johannink had money before he got involved in these companies and still had money, Mr Sheppard said, but obviously he could not say whether it was more or less as he was his accountant.

"I've had some major bustups with Robin," Mr Sheppard said.

Meanwhile, Mr Johannink's company, Phoenix Management, has been thrown out of Auckland office tower the Vero Centre by landlord Kiwi Income Property Trust, owing a six-figure sum in unpaid rent.

Mr Johannink said KIPT was Phoenix Management's only creditor and the money it claimed it was owed was under dispute. "I've never let anyone down or owed one cent," he said.

He acknowledged that some investors who had put their money into companies he had promoted might be angry but the ventures were high-risk startups.

'I am sure there are people who feel disgruntled because they lost their money ... but they went into it with their eyes wide open."

Mr Johannink said he had even talked some people out of investing if he felt they could not afford to lose the money. "I've always been 100% upfront [that they were high risk]."

He defended the management fees charged by Phoenix Management, saying most of the money was for salaries and the high-risk startup ventures had to pay a substantial amount to attract good talent.

"Don't forget at least five directors made these decisions, aside from me."

Mr Johannink said questioning the spending of money on business and first class travel was an example of a "small minded Kiwi mentality."

"I would never get a questi

[Steve]

Interesting, but I feel that this article isn't going to tarnish the image too much. You are right about the whole matter being a 'thorn' though...

[coge]

On behalf of FPA holders I'd like to thank Mr Sheppard for attempting to hijack a perfectly good company.
I sincerly believe FPA is one company that has been very good to all its shareholders
Why doesn't he stick his nose in a more worthy cause/place.

[mccollr]

Our next meeting is Tuesday the 14th of July at the usual start time of 7:30pm. Our guest speaker will be Geoff Brown – head of listed products for NZX.

Also if you are intending to come to the National AGM for NZSA at the James Cook on Friday 24th of July and haven’t sent in an RSVP can you let me know as we need to firm up the numbers for catering.

Remember access to the branch meeting venue in Fujitsu House is via the Terrace entrance just down from the James Cook. There will be a sign on the footpath and one of us will be there to let members in from around 7:00pm. Please don't leave it till 7.30 to arrive - we should all be seated and ready to go by 7:30.

Feel free to bring friends and fellow investors along.

Meetings for the Wellington Branch on the NZ Shareholders Association will be held on the second Tuesday of each month. The rest of the 2009 dates for NZSA Wellington Branch Meetings (all Tuesdays) are:

11th August
8th September
13th October
10th November

Rod

[mccollr]

National AGM for NZSA at the James Cook on Friday 24th of July

Anyone from the group attending the AGM this Friday ? Be good to catch up for a coffee.

Regards Rod

[mccollr]

The meeting dates for the remainder of the year are:

8th September
13th October
10th November

I will post details of each meeting as they come to hand.

Regards Rod

[mccollr]

The NZX will remove the 20-minute delay on the market-sensitive company announcements on its website by the end of next month.

The delay, which has been described by the Shareholders Association as “a form of insider trading”, will only remain in place until 1 October, according to NZX spokeswoman Lucy McFadden.

She said that NZX decided on the date after “discussions with vendors and participants who disseminate the data”.

The 20-minute delay was removed briefly for part of trading yesterday but has now returned and will remain up until the agreed date.

The NZX has used the delay as another step in their strategic focus on generating new revenue from data sales, with only paying customers able to access the market-sensitive announcements on the website during the 20-minute period.

The New Zealand Shareholders’ Association (NZSA) has argued that the delay was undermining the NZX’s ability to crack down on inside trading when it was giving information to paying parties.

But as reported by NBR last week, the group is vowing to keep up the pressure to see NZX stripped of its regulatory powers.

NZSA chairman Bruce Sheppard told NBR the 20 minute delay was one of the enduring points of the conflict to remove its regulatory functions.

But even with the delay removed, it was still seeking to have an independent organization like the Securities Commission to handle all the regulatory issues, rather than a listed company covered by the listing rules.

He said it was a “fairly heavy coincidence” that the NZX’s decision to remove the delay came just as a “sparring process” had been initiated between NZX and NZSA over the issue.