Ignore Bramson’s siren call, Barclays tells investors - News Summed Up

Ignore Bramson’s siren call, Barclays tells investors


The battle between Edward Bramson and Barclays has intensified after the activist investor began a charm offensive towards other shareholders and the bank launched a counterattack. Barclays investors will vote on his bid for a board seat at the annual meeting on May 2 and Mr Bramson, 68, will need the support of more than 50 per cent of shareholders to succeed. Sherborne Investors, his listed vehicle, is understood to have contacted other shareholders ahead of the annual meeting. Sherborne holds a 5.5 per cent stake in Barclays, which it has built up with the help of a loan from another bank and through derivatives. Barclays warned its shareholders yesterday that electing the activist as a non-executive director “would be detrimental to the company and…


Source: The Times March 20, 2019 00:08 UTC



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