AVI calls on Third Point shareholders to ditch director

Threat of legal action reiterated

Asset Value Investors has called on other shareholders of Third Point Investors Limited to vote for the removal of a non-independent director from its board at an extraordinary general meeting to be held on 1 December.

AVI executive director and head of research Tom Treanor accused AVI of "intransigence and disregard for good corporate governance" due to a continued refusal to put AVI's "discount-control related advisory resolution" to shareholders. This has led AVI to propose this resolution as a proxy instead, Treanor wrote to shareholders on 11 November. "Shareholders wishing to express their support for our advisory resolution should vote for the resolution to remove Mr Targoff," he said. Josh Targoff joined Third Point in 2008. Third Point Investors shareholders clash over 'persistent and en...