National Express Group is set to launch a £360m rights issue despite opposition from its largest shareholder the Cosmen family which owns 19% of the company. Deputy chairman Jorge Cosmen voted against the issue at a board meeting but was the only NEG director to do so. The rights issue is required to prevent NEG breaching its banking covenants. However, Cosmen argued that an extension of banking facilities should be sought to enable the group to explore other options to reduce its...
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