Downing Strategic Micro-Cap blasts Milkwood's bid to take over the board

Requisitioned general meeting

Cristian Angeloni
clock • 2 min read

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...

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