Edition:
India

Avis Budget Group Enters Into New Cooperation Agreement With SRS Investment Management


Monday, 16 Apr 2018 

April 16 (Reuters) - Avis Budget Group Inc ::AVIS BUDGET GROUP ENTERS INTO NEW COOPERATION AGREEMENT WITH SRS INVESTMENT MANAGEMENT.AVIS BUDGET GROUP INC - COMPANY TO TERMINATE SHAREHOLDER RIGHTS PLAN.AVIS BUDGET GROUP INC - SRS AGREES TO SUPPORT ALL COMPANY NOMINEES AT 2018 ANNUAL MEETING.AVIS BUDGET GROUP INC - JAGDEEP PAHWA AND CARL SPARKS APPOINTED TO BOARD.AVIS BUDGET GROUP INC - APPOINTMENT OF JAGDEEP PAHWA AND CARL SPARKS EFFECTIVE APRIL 20, 2018 WILL TEMPORARILY EXPAND BOARD TO 14 MEMBERS.AVIS BUDGET GROUP INC - SRS INVESTMENT MANAGEMENT WILL BE PERMITTED TO INCREASE ITS EQUITY OWNERSHIP STAKE IN COMPANY TO 20% OF SHARES OUTSTANDING.AVIS BUDGET GROUP INC - COMPANY'S SLATE FOR ELECTION AT 2018 ANNUAL MEETING ALSO INCLUDES GLENN LURIE AND FRANCIS SHAMMO, NEW INDEPENDENT NOMINEES.AVIS BUDGET GROUP INC - COUPLED WITH ADDITION OF LURIE AND SHAMMO, WILL REDUCE SIZE OF BOARD TO 13 DIRECTORS.AVIS BUDGET GROUP - AGREED THAT AT 2019 ANNUAL MEETING, ONE INCUMBENT DIRECTOR WILL NOT STAND FOR REELECTION, REDUCING SIZE OF BOARD TO 12 DIRECTORS.AVIS BUDGET - SRS AGREED TO STANDSTILL & VOTING COMMITMENTS BEGINNING ON DATE OF NEW COOPERATION AGREEMENT AND ENDING ON EARLIER OF JANUARY 25, 2020. 

Company Quote

26.47
0.27 +1.03%
16 Aug 2019