At the 11th hour Alliance Trust capitulate to Elliott


#1

In a shock announcement, two of the three Director’s the hedge fund nominated will join the board with hostilities immediately ending – but did Allian
[See the full post at: At the 11th hour Alliance Trust capitulate to Elliott]


#2

I’m absolutely furious that they’ve done this at the last minute to save face. I’m in Dundee now having travelled from Southampton. Garret-Cox was imploring us on videos to come and vote and then the moment she senses she’s about to lose she does this.

No doubt she’s looking forward to a fat payoff at a multiple of her £1.38 million salary.

I will be making my very angry voice loudly heard tomorrow.


#3

What way would you have voted @chrisblu?

I didn’t go to Dundee but I had a vote and I voted no to Elliott’s resolutions. I suppose the trust was facing defeat otherwise they wouldn’t have caved in but I don’t like like having a hedge fund calling the shots with my investments. I’d never ever invest in a hedge fund and I’m not happy that they’re influencing my investments.


#4

I bought a holding this morning in the expectation of mighty big changes a-coming to Alliance Trust. I think this is good news for investors, less so for employees perhaps who have my sympathies.

I’m not so keen on Alliance selling the savings platform business but I think outsourcing the investment management would be a good idea I’d support.