Deals
Activist Investor Crystal Amber Seeks to Oust Allied Minds Board
- Embattled fund manager Neil Woodford is second-biggest holder
- Activist has criticized company’s executive compensation
Photographer: Glenn Copus/Evening Standard/Shutterstock
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Crystal Amber Fund Ltd., the U.K. activist investor run by Richard Bernstein, is seeking to replace the board of technology incubator Allied Minds Plc after management rebuffed an attempt to discuss the company’s strategy.
Crystal Amber, which has criticized Allied Minds’s executive compensation, is considering calling a shareholder meeting to oust the company’s current directors, Bernstein said in a phone interview Wednesday. The investment firm was due to speak to the joint chief executive officers of Allied Minds on Wednesday but the call was canceled, he said.