LONDON (Alliance News) - Electra Private Equity PLC on Monday said it will kick off a review of its investment policy and structure which it expects to complete by the autumn.
The FTSE 250-listed private equity investor said the review will consider all options for maximising shareholder value. Its current structure and investment policy was approved back in October 2006 and some amendments to its fees, distributions and structure were made in February last year.
The move comes after the public row between Electra and activist shareholder Edward Bramson, the head of the Sherborne Investors hedge fund. Bramson emerged victorious from the battle between the two, having criticised the performance of the fund, and the review of its policies and structures comes after Bramson was given a place on the Electra board.
"Electra's strategy and investment policy has remained substantially unchanged for almost ten years," said Kate Barker, Electra's interim chairman. "We will look at whether the current strategy remains best suited to maximise shareholder value in the future. We remain open to further discussions with all shareholders."
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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