PRESS RELEASE 90 01/03/2017
Yesterday Alliance Trust shareholders voted to support the Board’s proposals to change the investment management arrangements and to buy out Elliot. This is surely a major win for private investors and for the stance taken by ShareSoc and the Alliance Trust Shareholder Action Group (ATSAG) which ShareSoc has supported over the last 3 years. ShareSoc wholeheartedly backed the Board’s proposals. Alliance Trust can now move forward.
But it was a close run thing as proxy advisory services who advise institutions were not happy with the buy-
ShareSoc wishes to thank James Cook, Keith Morris and Roger Lawson who have been actively involved in ATSAG, and the current directors of Alliance Trust who have steered the company through some difficult times. Alliance Trust should now look much more attractive to new investors who are a key to reviving the business and making it competitive in the longer term.
See the ShareSoc Alliance Trust campaign page for more information . A report on the General Meeting will be available on that web site.
For further information please contact:
Deputy Chairman, ShareSoc