GAM denies shareholder request to delay EGM
The EGM will be held on 18 August
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.
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«The GAM board has considered this request and determined not to delay the convened EGM, but to hold it on 18 August 2023, as announced,» it said in a statement.
«The GAM board continues to strongly recommend the Liontrust offer, urges shareholders to tender their shares into the offer and to vote to reject all of the proposals on the EGM agenda,» it added.
The group had wanted to move the EGM to on or around 31 August, to reflect the extension of Liontrust's offer period, which has been delayed from 25 July to 28 July, then 4 August, then 23 August.
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