AVI open letter to Board of Third Point Investors

RNS Number : 4415N

AVI Global Trust PLC

30 September 2021

 

AVI Global Trust plc ( the " Company ")

LEI:  213800QUODCLWWRVI968

30 September 2021

 

Asset Value Investors (AVI), which manages AVI Global Trust (AGT.LN), publishes open letter to directors of Third Point Investors Limited (TPOU.LN)

On 21 September 2021, the Board of Third Point Investors Limited (TPIL) rejected the requisition made by AVI and three other shareholders on 25 August 2021 (the "August Requisition").

Advice from AVI's domestic and offshore law firms and from leading company law counsel leads us to believe that TPIL's Board is mistaken in its approach to - and rejection of - the August Requisition; that the directors of TPIL were not entitled to reject the August Requisition and were obliged to call a general meeting within 21 days; and that the directors' view that the proposed advisory resolution was "ineffective" is wrong in law.

We invite the Board to promptly announce that it will immediately comply with the terms of the August Requisition, as it is obliged to by virtue of the provisions of The Companies (Guernsey) Law, 2008 as amended.

Our letter to the TPIL Board can be found by clicking on the following link:

https://www.assetvalueinvestors.com/third-point-public-letter-september-21

Contact:

Tom Treanor

Head of Research/Executive Director

[e-mail]

 

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