The board of the Downing Strategic Micro-Cap (DSM) investment trust has criticised an attempt by Vidacos Nominees, acting on behalf of Milkwood Capital, to oust the current board.
On 18 June, Milkwood requested the scheduling of a requisitioned general meeting, which is set to take place on 5 August. At the meeting, shareholders will be asked to vote on the appointment of three new directors - Rhys Drennan Summerton, André Charles Tonkin and Paul Shackleton – and the removal of current directors Hugh Aldous and Robert Legget. Additionally, Milkwood has tabled special resolutions aiming to stop the payments of any additional dividends as part of the process to wind up DSM. Downing Strategic Micro-Cap declares special dividends after activist investor blocks c...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
