Unicorn Asset Management CEO and CIO Peter Webb has resigned from the Eaglet Investment Trust board, with concerns over "activist/arbitrage" investors taking a stake in the company.
Webb will remain as investment manager of the firm he founded in 1993.
“I have been a director, shareholder and manager of Eaglet since its inception in 1993 and I continue to believe as I did all that time ago that it is a unique investment company,” he says.
“During recent times, seemingly inevitable waves of activist/arbitrage investors have built stakes in the company.
“By their very nature as short term traders, I do not expect such shareholders to support the long term investment strategy that Eaglet has pursued in the past and which I believe is so essential to unlocking value in the micro-cap sector in which we focus.”
Webb says he is keen to support the shareholders in any ensuing future internal battle.
“The company has gained a strong following within the stock market and a strong reputation within industry,” he says.
“I am keen to continue this good work on behalf of shareholders who share my beliefs and I am determined to be in a position to protect their interests should there be difficult challenges ahead.”
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