Electra defeats Sherborne

ELTA : Electra defeats Sherborne

Electra Private Equity has announced that at the meeting held today all the resolutions put forward by Sherborne were rejected by shareholders – the full results of the voting are shown below.

1. That Mr. Edward Bramson be and is hereby appointed as a director of the Company. Votes for 11,008,318  (38.22%), Votes against 17,796,709 (61.78%)

2. That Mr. Ian Brindle be and is hereby appointed as a director of the Company. Votes for 11,008,090 (38.22%), Votes against 17,797,040 (61.78%)

3. That Mr. Geoffrey Cullinan be and is hereby removed from office as a director of the Company. Votes for 10,565,192 (36.76%), Votes against 18,176,700 (63.24%)

81% of the company’s shares were voted at the meeting



Electra has released the following statement

“As a result of discussions with shareholders over recent weeks, the Board of Directors is announcing that it will launch a review covering the fee arrangements with Electra Partners LLP as well as the capital structure and distribution policy of the Company. The Board of Directors of the Company recognises that these are topics of particular focus for all shareholders and that a review of them is appropriate at the present time. The review will be led by Roger Yates as Chairman of the Company. The Board of Directors of Electra will remain open to dialogue with shareholders during the course of the review. It will announce the conclusions of the review as soon as possible.”

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