Business

Hostile shareholder may be good for Idion

The fact that Idion Technology Holdings now has a large hostile shareholder in the form of Canadian group DataMirror (which refers to itself rather as an “active” shareholder) is not necessarily bad for other minority holdings.

30 July 2002

Shareholders at Idion`s July annual meeting accused DataMirror`s representative of trying to frustrate them and the company by attempting to block various resolutions. To an extent, they may be right. After all, why try to block the reappointment of non-executive directors, only to later vote in favour of their salaries?

DataMirror`s status as a competitor of Idion should not be an issue. Neither should its bona fides. Shareholders would do well to assess criticism without regard to the source of that criticism. Some of DataMirror`s statements may well have merit. To reject them out of hand is irresponsible.

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