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Electra recommends shareholders vote against Bramson

Wed, 24th Sep 2014 06:16

LONDON, Sept 24 (Reuters) - The board of directors of UKprivate equity firm Electra on Wednesday recommendedthat shareholders vote against all general meeting resolutionsproposed by activist investor Edward Bramson's investmentvehicle.

Bramson's Sherborne Investors has forced a board meeting onOct. 6. On Tuesday leading UK investor advisory group PIRC saidit opposed the plans, which include a strategic review andelecting Bramson to the board, while independent advisory firmISS has also recommended shareholders vote against theresolutions. (Reporting By Freya Berry; editing by Matt Scuffham)


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