Minority shareholders need to form an association which can "collectively" deal with Minority rights.
That said, these can be chaotic as well given some shareholders are just there for the goodies.
I go for a few AGMs e.g. KK's AGMs. The majority of the shareholders are there for the food and gifts. It does not seem they have any interest in the proceedings. The rush for lunch is crazy and starts even before the AGM ends.
At one AGM, one of those "vocal" shareholders had gone to the chairman and asked if the meeting could end early so the shareholders can attend another AGM!!!
At I&M's AGM, the complaint was that it coincided with another AGM and the board should coordinate with other firms so the AGMs do not run concurrently.
So who will fight for the minority shareholders if the minorities do not do so themselves?
Do firms benefit from 1,000s of shareholders many of whom have just 100 shares?
How many shareholders does KenRe, Unga, KQ, etc have?
What's the value of the gift+food vs the value of 100 shares?
I recall a lot of drama at a previous AGM when Unga did not give a bale of flour. That's a lot of bales if every shareholder came to claim one.
I can understand why some firms want to go private including Unga.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett