GAM denies shareholder request to delay EGM

Rock Investment

GAM has denied a request from one of its largest shareholders to delay its extraordinary general meeting.

The EGM was called by Rock Investment, which is part of the investor group NewGAMe SA and Bruellan SA, that is aiming to prevent GAM being purchased by Liontrust. The intention of the EGM was "to revoke GAM's incumbent board and elect a new one with a clear plan to turnaround the business", the group said when originally it called for it in June. Earlier this week (7 August), Rock Investment requested that the meeting be delayed, so it could vote "with full knowledge of the outcome" of the deal. Liontrust extends GAM offer deadline as John Ions responds to shareholder group ...