Deborah Cone Hill
Friday 23rd January 2004 |
Text too small? |
It bought a chunk of insurer Tower and didn't get offered any directorship action.
This was even though rival Guinness Peat Group managed to swan into the boardroom after pulling off a controversial rights issue.
How come? Hanover, frankly, thought it seemed unfair and said so, and I couldn't help wondering too.
As Sarah-Jessica Parker might tap out on her laptop after a few Cosmopolitans: "How do you get a seat at the boardroom table?
"Is it a private party or can anyone join in?"
I asked GPG's Blake Nixon the same question and although he didn't have any instant answers he shared his advice.
* buy a stake of more than 20% and you should get a fair hearing for a board seat;
* go to the company which has problems and let it know you are supportive;
* remember if it is friendless with the institutional shareholders the only thing it is going to listen to is good news;
* and most importantly let it know you will provide more money.
No comments yet
MPG - Recapitalisation Closes Oversubscribed, Raises $23.9m
IPL - Indicative Issue Margin Range for Notes Offer
TWG partners with Tata Consultancy Services
Spark announces leadership team changes
September 15h Morning Report
Tower updates FY25 guidance
September 12h Morning Report
Scott Unveils Strategy and Delivers FY25 Trading Update
September 11h Morning Report
Devon Funds Morning Note - 10 September 2025