Alliance Trust attacked for ‘insulting’ activist Elliott Advisors’ board nominees

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Tim Ingram, who was on the board until 2012 and is still a shareholder, said: “It is ludicrous, and frankly insulting to the three proposed new independent directors, for the chairman to claim that these three experienced and reputable individuals would, when elected by shareholders in general, become for the first time in their lives stooges of Elliott.”

 

Chairman Karin Forseke, in a letter sent to shareholders last night calling for them to vote against the Elliott candidates, said: “the issue is not just about the three candidates Elliott have proposed — instead it is about Elliott’s plans for the future of the company.”

Ingram said the proposed new directors would, like all directors, be required under the Companies Act to “act in the best interests of the company as a whole”.

Source Article from http://www.standard.co.uk/business/business-news/alliance-trust-attacked-for-insulting-activist-elliott-advisors-board-nominees-10184273.html

April 17, 2015 |
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