GAM cancels EGM and reasserts recommendation of Liontrust offer

Rock Investments withdraws request

GAM has cancelled its extraordinary general meeting scheduled for 18 August following the withdrawal of proposals by Rock Investments.

The EGM, which had initially been set for 25 August but was brought forward following the extension of the offer period by Liontrust, had been organised to discuss the proposals set out by Rock to dismiss the GAM board and elect a new one to "with a clear plan to turnaround the business". GAM shareholders withdraw proposals for EGM Rock Investments, which is part of the investor group NewGAMe, first wrote to GAM on 7 June to request the EGM, which was supported by a second letter on 15 June. According to GAM, Rock first asked for the EGM to be postponed on 7 August, before asking f...