Malta: AGM Update And Board Appointments
Last Updated: 26 May 2015

The Board of Alliance Trust plc announces that, following discussions, Elliott Advisors (UK) Ltd, its largest shareholder, has agreed to withdraw its three resolutions from the Alliance Trust Annual General Meeting on 29 April 2015 and has committed to support the Board and management on all other resolutions.

The Board and Elliott have also agreed on certain mutual non-disparagement undertakings and that Elliott will not call a general meeting or seek to agitate against the Company, its Board or management publicly until after the Company's 2016 AGM at the earliest.

The Board has agreed to appoint Anthony Brooke and Rory Macnamara to the Board of the Company once customary regulatory approvals have been obtained and that they will act as board observers in the interim period. In addition, as previously announced on 14 April 2015, the Board has accelerated the process to appoint an additional independent non-executive director, which will be done in consultation with the Company's major shareholders.

Karin Forseke, Chair, said: "On behalf of the whole Board, I would like to express my gratitude to our shareholders for engaging with us on this important issue. Having considered this feedback we have worked with Elliott to find a compromise which we believe is in the best interests of all our shareholders.

I would also like to welcome Anthony and Rory to the Board where their significant experience will be a considerable asset."

To print this article, all you need is to be registered on

Click to Login as an existing user or Register so you can print this article.

Some comments from our readers…
“The articles are extremely timely and highly applicable”
“I often find critical information not available elsewhere”
“As in-house counsel, Mondaq’s service is of great value”

Press Releases from this Firm
Recent Content from this Firm
By George Renouf
By Linsey Congdon
By Katherine Garrett-Cox
By Alliance Trust Group
By Simon Clements, Peter Michaelis
By David Osfield
By Peter Michaelis
By Linsey Congdon
By Linsey Congdon
By Alliance Trust Group
Font Size: