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The
board of Electra said it had received a requisition for a
general meeting from Bramson's Sherborne Investors, where a
resolution will be proposed seeking the appointment of two new
board members.
Bramson, Electra's largest shareholder, has criticized the
performance of Electra's management team and "considers a number
of its portfolio companies to be undervalued as a result of
operational deficiencies", Electra said in the statement.
Electra unanimously opposes the resolution to appoint Bramson
and Ian Brindle and says it remains convinced that the best
interests of shareholders are best served by a board that is
wholy independent of any shareholder.
(Reporting by Emiliano Mellino, editing by Sinead Cruise)
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