Kevin Lomax, founder of IFA network owner Misys, is facing an embarrassing showdown as investors plan to vote against his re-election to the board at next week's annual meeting, reports the Guardian .
Major city investors are thought to be planning to use the meeting to demonstrate their fury at the way the company has been managed over the past 12 months and the way takeover talks have been handled.
The Misys chairman, Sir Dominic Cadbury, is also being targeted for a protest vote by some investors, says the paper.
City sources say although some investors may not take the bold step of voting against the re-election of the two executives to the board, they may abstain to show their disdain for the way the management is running the company.
STANDARD CHARTERED, which makes two-thirds of its profit from Asia, has launched a recommended offer for Hsinchu International Bank in Taiwan in a deal valued at £650m, says the Daily Telegraph.
Standard Chartered will pay a high premium of 40% over the closing price on 28 Sept of Hsinchu, the seventh largest bank in Taiwan.
It will finance the deal through a $1.2bn share placement which starts today.
MAN GROUP, the world's largest listed hedge fund manager, is on course to make first-half profits of more than $700m after notching up sales to institutions and the super-rich of at least $10.4bn, reports the Times.
Shares in Man, which is led by chief executive Stanley Fink, jumped 25p, or 5.7% to £4.68 as it told the city today its profits for the six months to the end of this month would be ahead of consensus forecasts.
Net income from management fees is expected to jump by 35%, while performance fees are likely to rise by 25%.
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