Achilles Investment Company Limited has announced that Waverton Investment Management, TR Property Investment Trust and Harwood Capital collectively managing shares representing approximately 8.8% of the issued share capital of Urban Logistics REIT, intend to serve a requisition on the company to convene an extraordinary general meeting.
The purpose of this meeting is to propose:
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The removal of Nigel Rich, non-executive chairman, Heather Hancock, non-executive director and senior independent director, Richard Moffit, director; and
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The appointment of Robert Naylor as non-executive chairman, and Sanjeta Shah as non-executive director and senior independent director.
All with immediate effect.
If appointed, the requisitioning investors expect the new directors to collaborate with the remaining board members to conduct a strategic review aimed at maximising shareholder value.
Robert Naylor is the lead fund manager of Achilles Investment Company Limited, which is managed by Harwood Capital (Gibraltar) Limited, a subsidiary of Harwood Capital LLP.
SHED: Urban Logistics REIT requisitioned for removal of board members
