20th May 2019 09:27
LONDON (Alliance News) - Transport company FirstGroup PLC on Monday said a shareholder has had to refile its requisition notice after an administrative error.
A week ago, Hermes-Golden Ltd, managed by US-based activist investor Coast Capital Management LP, called a meeting in a bid to remove 6 of the current 11 directors of FirstGroup and appoint 7 of their choice.
None of the directors were named. Coast Capital has a 9.8% stake in FirstGroup.
On Monday, FirstGroup said the original notice was invalid as it had been signed by the wrong holder of Coast Capital's stake, but now a new one has been filed.
Shares were 0.6% higher on Monday morning at a price of 113.22 pence each.
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