22nd Jan 2010 17:25
Mitchells & Butlers plc
Statement by Standard Life Investments
The Board of Mitchells & Butlers plc notes the following statement released today by Standard Life Investments:
"Standard Life Investments notes that the numerous attempts of the board of Mitchells & Butlers to achieve a compromise with its largest shareholder over the composition of the board have been rebuffed.
The demands of this shareholder are, in our view, both unreasonable and contrary to the interests of the wider shareholder base. We believe that it would be in the best interests of both the company and all shareholders that stability should be brought to the board in a manner that does not give control of the board to its largest shareholder. On 11th January 2010 the board made its recommendations in respect of the resolutions at the forthcoming AGM. Amongst other things, these support some measure of board representation for the company's largest shareholder. These recommendations are in the best interests of all shareholders and should command support."
For further information, please contact:
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Corporate Affairs: |
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Erik Castenskiold |
0121 498 6513 |
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Media: |
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James Murgatroyd (Finsbury Group) |
0207 251 3801 |
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Mitchells & Butlers