Investor has backing of other shareholders to oust chairman
Invesco fund manager Neil Woodford has the support of Jupiter Asset Management, Aviva, Threadneadle and J O Hambro in his attempt to oust directors at Omega Insurance, the Telegraph reports.
John Robinson, the founder of Omega who owns 7.2% of the company, is also believed to have provided irrevocables to support the call for boardroom change.
The Telegraph said: “People familiar with the matter are surprised the company has not made an announcement regarding the irrevocable undertakings.”
Goodbye to the chairman
Invesco, which holds 29% of Omega, has twice attempted to convene a general meeting to replace Walter Fiederowicz, chairman, with John Coldman, the former Benfield chairman. It also wants to replace Christopher Clarke with James Bryce.
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