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NEG steps up defences ahead of AGM showdown

06 May 2011
Dean Finch: No case for new strategy
Dean Finch: No case for new strategy

 

National Express Group’s board has attempted to strengthen its position ahead of its showdown with activist hedge fund Elliott Advisors at the group’s AGM on May 10 by releasing an upbeat trading update a week before the meeting. In previous years, the update has been delivered at the AGM.

The trading statement, covering January to March, was claimed by chief executive Dean Finch as evidence that calls from Elliott, which has an 18% stake in NEG, for a change of strategy to focus...

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