By ELLEN READ
Disgruntled small shareholders will meet in Auckland next month to establish an association to protect and advance their rights.
Auckland accountant and investor Bruce Sheppard - who is heading the push for a small shareholders' association - has more than 50 names of interested people, and plans a meeting for April.
"We're slowly getting there. If we can convert them into workers we'll be fine."
"The next step is to call a meeting of interested parties to establish whether we can achieve an appropriate level of membership to support the planned objectives of the society," he said.
Mr Sheppard said an incorporated society or charitable trust should be formed to research and analyse public company results and transactional issues, coordinate advocacy, provide a proxy service and promote shareholder initiatives.
An initial membership of between 16 and 36 was hoped for, with roles split into communications, research and advocacy.
Feedback had suggested the advocacy role should include working on changes to legislation.
Mr Sheppard said he met representatives of the Australian Shareholders' Association recently, and they had agreed to provide material on their rules and the checklists they used for monitoring companies.
Shareholders' association gathers pace
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