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UPDATE 1-Voce nominates its founder, three others to Air Methods board
February 15, 2017 / 3:27 PM / 6 months ago

UPDATE 1-Voce nominates its founder, three others to Air Methods board

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Feb 15 (Reuters) - Activist hedge fund Voce Capital Management LLC nominated on Wednesday four candidates, including its founder and managing partner, for election to Air Methods Corp's board, as part of efforts to turnaround the medical helicopter company.

Voce, which has held a stake since 2011 and has long advocated Air Methods sell itself, threatened on Jan. 30 to start a proxy war.

It backed off a similar threat in March 2016, after Air Methods agreed to board changes and address stockholder concerns.

Since then, Air Methods added one Voce nominee to its board. But the hedge fund in January accused Air Methods of not fulfilling its obligation to amend its bylaws, so all directors could be elected annually.

On Wednesday, Voce nominated Robert Fish, Gregory Guckes, William Mathies and Voce founder Daniel Plants to Air Methods' board.

"The situation at Air Methods has unraveled since we entered the cooperation agreement with the board almost a year ago," Voce said, highlighting that Air Methods had not even acknowledged its Jan. 30 letter.

The hedge fund has a 3.1 percent stake in Air Methods, according to Thomson Reuters data.

Air Methods could not be immediately reached for comment. (Reporting by Natalie Grover in Bengaluru; Editing by Martina D'Couto)

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