Trian 1 story continues as shareholders call for support ahead of extraordinary general meeting

'Not fit for purpose'

In the latest update of the Trian Investors 1 Limited (TI1) saga, the ad hoc committee of independent investors has sent an open letter to fellow shareholders ahead of the extraordinary general meeting (EGM) next Friday (5 August), calling on other investors to vote in favour of its governance reforms.

Global Value Fund, Invesco, Janus Henderson Investors UK and Pelham Capital make up the committee of shareholders lobbying for several proposals put forward regarding TI1's governance and board members. In a previous open letter to the board they said the "conduct of the TI1 board raises serious and concerning governance issues that cannot be ignored" and called for an EGM to address them. In the latest open letter they told fellow investors that "your vote is incredibly important" and called on them to "consider resolutions put forward by the committee to reconstitute the Board and r...