Electra Private Equity shareholders have rejected activist investor Edward Bramson's attempts to force a change in the board and running of the company.
At Electra's AGM, held today, more than 60% of shareholders disagreed with former F&C chairman Bramson on three separate proposals, including that to install himself as a board member. Having built up a 20% stake in the company via Sherborne Investors, Bramson had promised a strategic review were he and former Sherborne chairman Ian Brindle appointed to the board as proposed. Sherborne and Electra have had a turbulent relationship since the former revealed its position in Electra in February of this year. In July, Bramson attempted to become a director at the company. This was reje...
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