THE chief executive of Dundee-based Alliance Trust, Katherine Garrett-Cox has reiterated calls for shareholders to reject the attempt by Elliott Advisors to get three non-executive directors elected to its board.
In a blog post Ms Garrett-Cox wrote of the hedge fund: "If Elliott is able to wield greater influence over Alliance Trust, it would pursue disruptive actions focused on allowing it to sell its shareholding quickly, actions which we do not believe are in the best interests of other shareholders." Shareholders in the £3bn Alliance Trust will vote on the proposals made by Elliott Advisors at the trust's general meeting later this month. Ms Garrett-Cox said shareholders who care about the future of Alliance Trust in any form have to vote. Elliott has said it wants to put the directors on the board to improve performance and offer a fresh perspective.
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