GAM convenes EGM and urges investors to back NewGAMe proposals
investmentweek.co.ukShareholders will be asked to vote on a range of appointments to GAM’s board of directors, including a new chair, and its compensation committee.
Requested by Rock Investment, a constituent member of the NewGAMe shareholder group that fended off Liontrust's takeover bid of the Swiss asset manager, the EGM is connected to its public partial tender offer for 28,000,000 shares with a par value of CHF 0.05 (4.5p) each.
Shareholders will be asked to vote on a range of appointments to GAM's board of directors, including a new chair, and its compensation committee.
GAM repays Liontrust loan in full
There will also be proposals to create a conditional capital for financing purposes and increase the share capital range of GAM.
The current GAM board has proposed to back Rock's proposals and urges shareholders to do the same.
NewGAMe has further reiterated its intention to «create stability and secure the future of GAM», with the EGM proposals representing part of its ongoing plan to supplement the immediate short-term financing it committed to on 29 August.
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