GAM shareholders withdraw proposals for EGM
In a statement, NewGAMe urged GAM to cancel the 18 August date «rather than incur unnecessary costs».
NewGAMe, which controls 9.6% of GAM shares, has repeatedly called for the EGM to be held once Liontrust's offer period had passed so investors could make an «informed choice» at EGM.
The EGM was initially set for 25 August, but it was brought forwards to 18 August after Liontrust extended its offer period, for a third time, to 23 August.
Originally, the offer period was due to end on 25 July and has since been extended to 28 July, then 4 August, then 23 August. Liontrust originally announced its intention to buy GAM on 4 May.
GAM denies shareholder request to delay EGM
NewGAMe threatened earlier this week that if the EGM was not delayed it would withdraw its proposals and request a new meeting be held, which it followed through with today (10 August).
In a statement, NewGAMe urged GAM to cancel the 18 August date «rather than incur unnecessary costs».
Liontrust extends GAM offer deadline as John Ions responds to shareholder group
Antoine Spillmann, Bruellan CEO and NewGAMe's proposed candidate for chair GAM's board, called out the firm for repeatedly shifting the dates, and requested «them not to waste further time and company money holding» holding what he now saw as a «pointless meeting».
NewGAMe also responded to Liontrust CEO John Ions' open letter in the latest back-and-forth between the two groups.
The GAM shareholders had initially written to Ions with criticism about Liontrust repeatedly altering the offer period, as well as detailing NewGAMe's own proposed plans for managing GAM, to which Ions responded to last week.
In the latest instalment, NewGAMe defended its 100 day plan for the GAM turnaround agenda,
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