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Activist investor Custos demands general meeting of Johnston Press shareholders
November 7, 2017 / 7:38 AM / a month ago

Activist investor Custos demands general meeting of Johnston Press shareholders

Nov 7 (Reuters) - Newspaper publisher Johnston Press Plc said it received a letter from activist investor Custos Group AS demanding a general meeting of the company’s shareholders.

Custos Group has called for resolutions to remove interim chairman Camilla Rhodes and Michael Butterworth as directors and has proposed that Alexander Salmond and Steve Auckland be appointed as non-executive directors, Johnston Press said.

Custos, run by fund manager Christen Ager-Hanssen, had lined up four directors to be nominated to the Johnston Press board in October before discovering a clause in a bondholder deal that hindered its attempt to oust Johnston Press’ top management.

The requisition from Custos also sought to remove any person appointed as a director of the company since Nov. 6.

Johnston Press said it is consulting with its advisers and will update its shareholders with regard to the timing of the general meeting in due course. (Reporting by Arathy S Nair in Bengaluru; Editing by Sunil Nair)

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