Sparks set to fly in the wake of telcos dismal year

Of all the listed company annual meetings this year, Spark’s AGM this Friday is shaping up to be the one to watch; though the company’s Board of Directors and its senior management team are unlikely to be relishing the prospect of fronting up to what are expected to be extremely disgruntled shareholders.

And they have every reason to feel disgruntled. After starting the year at $5.32, Spark shares closed on Friday at $2.99, a nine-year low, having so far fallen more than 40 percent year-to-date; their worst yearly performance since the 2008 global financial crisis.