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Franchisee Burger King Grand Parade launches unusual actions JSE

The first Burger King in South Africa opened its doors in Cape Town on May 9, 2013. Picture: Rafiq Wagiet / EWN

This is the first time in a decade that the JSE took advantage of this power that we have … There is a lot of hostility between shareholders and the board of directors …

Andre Visser, JSE

The Johannesburg Stock Exchange (JSE) on Wednesday published a list of attempts from institutional investors who want to oust the current board of the Grand Parade Investments.

The most important problem is related to the collapse of the Grand Parade's share of shares after it switched from gambling to fast food.

Another problem was the remuneration of directors and the outflow of managers and financial directors.

JSE issued a Grand Parade Investments directive to pass complaints to shareholders.

However, the Grand Parade was unable to follow the instructions, said JSE.

Grand Parade – franchisees from Burger King, Dunkin & Donuts and Baskin-Robbins in South Africa.

Money"S Bruce whitfield Interviewed with Andre Visser, JSE CEO.

Listen to the interview in the audio below (and / or scroll down to get more quotes).

This is an unusual set of facts that we needed to consider. There is a special process to follow … We decided to take this unusual step …

Andre Visser, JSE

The company has reasons not to publish information … Looking at the whole fact, we could not see the reason for the delay …

Andre Visser, JSE

Our role is to remain completely impartial … and distribute information at the appropriate time …

Andre Visser, JSE

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