LONDON, Oct 26 (Reuters) - British private equity firmElectra announced a 25 percent return in its dilutednet asset value (NAV) per share in its full year results onMonday, and will convene a general meeting in November toaddress its activist shareholder's latest demands.
Electra, owner of restaurant chain TGI Fridays in Britain,said it would pay a final dividend of 78 pence per share, takingthe total dividend to 116 pence for the year ending September2015.
The firm has been embroiled in a battle with activistshareholder Edward Bramson for well over a year. After a seriesof spats via public announcements, the latest meeting will takeplace on Nov. 5.
A vote will take place on whether to agree to SherborneInvestors' demands to appoint Edward Bramson and IanBrindle to the board. The board of directors said it unanimouslyrecommended shareholders vote against both resolutions.
Bramson and his vehicle Sherborne first revealed a holdingin February last year and have since become Electra's largestshareholder, with a 29.75 percent stake according to ThomsonReuters data.
Electra's diluted NAV rose to an all-time high of 3,914pence a share, which it said was helped by a series of portfoliorealisations. The company said it had invested 188 millionpounds ($288 mln) and sold 259 million pounds' worth of assets. ($1 = 0.6530 pounds) (Reporting By Freya Berry; Editing by Susan Fenton)