Alliance Trust chief reiterates opposition to Elliott as crunch meeting looms -Video

https://youtu.be/pFjaoDRsFMg

In a blog post Ms Garrett-Cox wrote of the hedge fund: “If Elliott is able to wield greater influence over Alliance Trust, it would pursue disruptive actions focused on allowing it to sell its shareholding quickly, actions which we do not believe are in the best interests of other shareholders.”

Elliott has said it wants to put the directors on the board to improve performance and offer a fresh perspective.

The dissident shareholder has won support from former director Tim Ingram, who is currently the chairman of the investment community representative body Wealth Management Association.

AT saw off a similar challenge from hedge fund Laxey Partners in 2012 but Elliott’s 12 per cent of AT shares compared with Laxey’s then holding of 1.5 per cent represents a significantly more serious threat to the current regime.