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Activist investor seeks shareholder vote to change Barclays board

Published 01/07/2019, 10:26 AM
© Reuters.  Activist investor seeks shareholder vote to change Barclays board
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  • An activist targeting Barclays (LON:BARC) (BCS +0.3%), saying he's lost faith in the British bank, is seeking shareholder approval for board changes after it denied him a role as a non-executive director, Bloomberg reports.
  • Edward Bramson, who holds more than 5% of Barclays, will seek a vote to change "composition of the board," according to a letter he sent to his investors.
  • He may seek the board changes at the annual general meeting or may call a separate session for shareholders.
  • Bramson contends that making cuts at the investment bank could free up capital that would strengthen the company.
  • Previously: Barclays considers U.S. push under activist pressure: WSJ (July 16, 2018)
  • Now read: Bloomberg 2019 Watchlist: 50 Dividend Dogs Show Target (NYSE:TGT) Gains And Losses


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