He unsuccessfully tried to push three directors onto the RTG Board, but shareholders refused all three motions by voting 57,1 percent against his 42,8 percent.
The AGM, held in the plush Jacaranda Room of the five-star Rainbow Towers Hotel in Harare, was filled with drama as the British tycoon regularly rose from his front seat chair to challenge the Master of Ceremonies.
In a very brief interview immediately after the AGM, the British businessman said he was not disturbed by the bad outcome but would soldier on.
"This is the work of Econet Wireless and Mr Strive Masiyiwa," he alleged.
"The major shareholders who voted against me were Econet Wireless Zimbabwe Holdings directors, who are sitting on Mr Masiyiwa' shares in Zimbabwe. I will continue trying to put competent members on this Board because only then will the firm move forward."
He said it was a "shame for the firm and for Zimbabwe”, which is reeling from a serious economic crunch, with investors sitting on the fence awaiting new ideas from the Government of National Unity.
He had nominated S Chibhanguza, A S Hamilton, and R Haruperi as new directors.
Chibhanguza has hotels in the Seke Communal lands near the posh Chanakira Village and owns the popular Ziko Night Club and Restaurant.
He also owns Chibhanguza Hotel which, however, has no stars to its credit.
This facility is among the most popular watering holes for tycoons over weekends in Mashonaland West Province.
The RTG Directors, according to reliable sources, receive about $30 000 each annually which translates to about $6 000 each per sitting since they sit four times during the year.
Another businessman, Godfrey Manhambara, who was off-loaded from the Civil Aviation Authority of Zimbabwe (CAAZ), jumped back onto the RTG Board when he received a 99 percent vote after counting was completed.
Manhamba, all smiles, said: "I'm happy to be back on the Board. I'm very happy indeed".
BDO Zimbabwe Chartered Accountants were given a shock after van Hoogstraten and his team had said they should not audit the company's books.
"How much are the Director's fees?" the British-based tycoon asked shareholders.
"We must be told how much they are each getting and how much allowances they are also getting because this is our money."
The RTG Chief Executive, Chipo Mutasa, is among the few female bosses on the ZSE today. She drives a state-of-the-art metallic silver/grey Mercedes Benz E-Class saloon from South Africa.
Van Hoogstraten is also the majority single shareholder in Whange Colliery Company, which will soon hold an Extraordinary General Meeting (EGM) that he has called because he believes the company is not being run professionally by local Zanu (PF)-aligned heavies, including the Chairman, Tendai Savanhu.
Savanhu has had regular clashes with Van Hoogstraten, as he is accused of "milking the major coal producer in Zimbabwe and fleecing the poor firm at a time when it needs serious investment and recapitalisation".
Post published in: Business