Activist investor Oasis seeks more sway at UK's Capita with 15% share switch, FT reports

* Oasis ​urges Capita ⁠to streamline business and boost shareholder ​returns, FT says

* Oasis has grown its Capita stake from 5% to 15% since September ​via ‌swaps

* Capita says it maintains active and constructive dialogue with all shareholders

May 8 (Reuters) - ⁠Activist investor Oasis Management has instructed a switch ⁠of its 15% exposure in ​British outsourcer Capita into shares as it seeks to exert more influence over the company, the Financial Times reported on Friday, citing a person familiar ​with the ‌matter.

Oasis has steadily increased its exposure in the company to 15% as of March 24 through swaps since acquiring an initial 5% in September, according to filings.

Swaps are financial instruments typically used by ​hedge funds and other large investors to build a large economic stake quietly ‌and flexibly, before later converting that exposure into real shares with votes.

Oasis' current exposure to the company ‌gives it voting rights but they are legally weaker than voting rights attached to shares.

The Hong-Kong-based investor plans to ask Capita to streamline its business ​in an effort to revive its share price and boost shareholder returns, the FT ‌report said.

Oasis is unlikely to call for the removal of either Capita CEO Adolfo Hernandez or Chairman David Lowden, the report added.

Oasis did ⁠not respond ⁠to Reuters' requests for comment.

Capita, in a ‌statement, said it maintained an active and constructive dialogue with all its shareholders. "Our absolute priority ​is the ​delivery of our ongoing and successful group transformation, as ‌evidenced by our announcement in March of the sale of our private sector contact-centre business."

Capita