Dignity, one of Britain’s biggest funeral operators, has urged investors to oppose attempts by Phoenix to replace Clive Whiley with Gary ChannonDignity, one of Britain’s biggest funeral operators, has accused its largest shareholder of trying to take control without paying a bid premium after Phoenix Asset Management moved to oust its executive chairman. The company has revealed that Phoenix had prepared a formal bid for Dignity in the second quarter of last year when the share price was weakened and the company “on the back foot” from the pandemic, board changes and the pausing of its transformation plan. SponsoredDignity urged investors to oppose attempts by Phoenix, which holds 29.9 per cent, to replace Clive Whiley with Gary Channon, Phoenix’s founder and chief investment officer, at a shareholder meeting next month. Dignity’s response to Phoenix’s requisition notice yesterday also revealed that Phoenix threatened to requisition shareholder meetings

Source: The Times March 30, 2021 08:02 UTC