Shareholders’ best interest our focus – IHS replies

IHS Holdings, the Nigerian-based telecommunication infrastructure supplier has mentioned it’s targeted on performing in the very best pursuits of all shareholders.

The assertion which the corporate despatched to BusinessDay, is in response to a number of calls by offended shareholders for the pressing reform of the corporate’s board of administrators and company governance.

MTN Group, Wendel SE, and Blackwells Capital are main the onslaught towards the corporate.

“We be aware the latest feedback made by sure of our shareholders and we proceed partaking in shareholder dialogue,” the corporate mentioned.

MTN Group (26%) and Wendel SE (19%), each of which account for a forty five p.c share of the corporate, need an overhaul of the company governance of IHS, in addition to tackle the voting rights of MTN capped at 20 p.c.

Learn additionally: Blackwells joins MTN, others to strain IHS for reform

On Wednesday, Blackwells launched a letter it issued to the board of administrators of IHS demanding reforms within the board. It has really helpful that shareholders with as a lot as 10 p.c ought to be capable of have a say on the board. It additionally accused IHS of an absence of transparency and warned it could make the most of each means to convey concerning the reforms.

“The IHS Towers administration workforce and Board of Administrators have a continued observe report of partaking with shareholders, listening rigorously to their views, and are targeted on performing in the very best pursuits of all shareholders,” IHS mentioned.

IHS Holdings is listed on the New York Inventory Trade (NYSE). The share value rose by 2.05 p.c to commerce at $9.97 on Wednesday and closed at $9.77. It’s nonetheless a great distance from the $21 it opened when it was listed on the NYSE a few 12 months in the past.