Penrice has started to lobby its shareholders ahead of a meeting scheduled for 27 July 2009. London City Equities (LCE), a shareholder of 9.6% of Penrice, has sent out a letter to other shareholders r…
Penrice has started to lobby its shareholders ahead of a meeting scheduled for 27 July 2009. London City Equities (LCE), a shareholder of 9.6% of Penrice, has sent out a letter to other shareholders regarding the company“s performance prior to the meeting. In the letter, managing director of LCE Peter Murray asked investors if they were happy with their Penrice investment, the price of its USD 1.15 a share purchase plan in December 2008, the lack of an interim dividend and increasing debt borrowings. LCE has also requested that the meeting consider removing chairman John Heard and director David Trebeck, and appointing LCE nominees, Peter Murray and Glenn Turner.