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Nampak's investors are anxiously waiting to see what turnaround steps new CEO Phil Roux will unveil when it releases results next week, after a dire profit warning on Friday sent the packaging group's shares crashing more than 15%. ....
Nampak has shelved an extraordinary meeting scheduled for Wednesday, where it had hoped to get shareholders to green-light an increase in the number of shares to pave the way for a rights issue of about R1.5 billion. ....
Nampak came under fire at its AGM on Wednesday, with shareholders grilling Africa's largest packaging company about its financial performance, issues around director bonuses and a perceived lack of detail on potential asset sales. ....
Investors grilled Nampak on Wednesday for details of the behind-the-scenes discussions it held with key shareholders that put a temporary brake on a rights issue of up to R2bn. ....