ThomasLloyd Energy Impact manager urges continuation to prevent destruction of shareholder value

Proposal for a new TLEI board

ThomasLloyd Group, the manager of ThomasLloyd Energy Impact (TLEI), has refuted a number of allegations made by TLEI’s board and urged shareholders to vote in favour of the continuation of the trust to prevent the permanent destruction of shareholder value.

TLEI's board recommended shareholders to vote against the continuation of the company on 31 July after losing confidence in its investment manager, ThomasLloyd Global Asset Management. This comes after affiliates of the manager called for a continuation vote on 11 July. A day later, the firm called for the board to immediately withdraw its shareholder recommendation to vote against continuation. It said this would be detrimental to shareholders and said it considered the actions of the board to be "self-serving". In a statement released today (11 August), ThomasLloyd Group reiterated ...