Shareholders in MultiChoice, which was unbundled from Naspers on 4 March, rejected the group’s executive pay at Thursday’s AGM.
MultiChoice Group plans to offer shareholders in its two broad-based black economic empowerment schemes the opportunity to gain direct exposure to its shares listed on the JSE.
Shareholders in MultiChoice Group sent a strong message at the company’s first annual general meeting as a JSE-listed company, registering their displeasure over its remuneration policy.
The Information Communication Technology Union will lead its members at MultiChoice South Africa out on strike on Friday to protest job cuts at the pay-television operator.
DStv owner, JSE-listed MultiChoice Group, is cutting the price of monthly bouquets in Kenya by as much as 37% as competition from streaming services intensifies.
MultiChoice Group executive chairman Imtiaz Patel received almost $1.5-million (about R21.4-million at the time of writing) in base salary, bonuses, pension and short-term incentives in the 2019 financial year.
MultiChoice Group’s video-on-demand service, Showmax, has been launched in Nigeria with local content and naira-based pricing.
A finding by the commission last week regarding MTN’s empowerment scheme’s contravention of the B-BBEE Act will have wide implications for similar schemes operated by other listed companies.
Jabu Mabuza, chairman of the South African power utility regarded as the biggest risk to the nation’s economy, has taken on a non-executive director role at pay-television company MultiChoice Group.
