SVG Capital May Face Investor Dissent, Daily Telegraph Says
SVG Capital Plc (SVI) may face investor opposition over plans to return only 15 percent of the firm’s capital and its proposal to end an exclusive relationship with buyout firm Permira Advisors LLP, the Daily Telegraph reported.
Shareholder Jeremy Coller of Coller Capital Ltd. held talks with Schroders Plc (SDR) on voting against the proposals at SVG’s extraordinary general meeting this month, the newspaper said, without saying how it knows. SVG Chief Executive Lynn Fordham told the newspaper she will move ahead with the company’s planned strategy. Returning more than the proposed 170 million pounds ($269.3 million) would mean “significant execution risk” for SVG, she told the newspaper.
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