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Tag: investment trusts

Fight with Elliott cost £3 million

Forseke admits Alliance Trust needs to ‘step up’ performance

Karin Forseke
The chairman and chief executive of Alliance Trust were today put under pressure at a packed meeting of shareholders wanting to know more about the eleventh-hour deal reached over control of theRead More

Business Comment: Terry Murden

Garrett-Cox will struggle to heal Trust’s divisions

The battle for control of Scotland’s best known investment trust was supposed to culminate this week in a knife-edge vote over the composition of the board. Instead, those still holding theRead More

Two of three nominees are appointed

Alliance concedes in battle with rebel shareholder

Karin Forseke
Alliance Trust has accepted defeat in its battle with rebel shareholder Elliott Advisers and agreed to appoint two directors to the board. In an eleventh hour deal, agreement has beenRead More

Dundee firms unite in battle

DC Thomson backs Garrett-Cox in Alliance battle with Elliott

DC Thomson, the newspaper publisher, has offered support to beleagured Alliance Trust boss Katherine Garrett-Cox by saying it would vote against Elliott Advisors’ plans to install three non-executive directors on toRead More

Heat turned up on Garrett-Cox

Third shareholder group backs Elliott plans for Alliance board changes

Alliance Trust chief executive Katherine Garrett-Cox is coming under increased pressure after a third shareholder group backed the rebel shareholder calling for a boardroom shake-up. Proxy group Institutional Shareholder ServicesRead More

Search for 'truly' independent director

Alliance Trust hires headhunter in battle with rebel Elliott

Katherine Garrett Cox
Alliance Trust has hired headhunters to find a new director in a move designed to wrongfoot a rebel shareholder. In a trading update Katherine Garrett-Cox, chief executive, made no mentionRead More

Former chairman intervenes in row

Knox urges Alliance shareholders to reject Elliott’s plan

Lesley Knox
Alliance Trust’s former chairman Lesley Knox has criticised the rebel shareholder trying to install three nominees to the board. Ms Knox has urged the Dundee-based company’s shareholders to vote againstRead More

Chief executive of trust 'overpaid'

Former Alliance director backs move to install new blood

Katherine Garrett Cox
A former director of Alliance Trust says he will be supporting a move to install three nominees on the board after writing to shareholders about the Dundee company’s “dismal performance”Read More