Bramdean Alternatives, the investment trust managed by Nicola Horlick, is facing shareholder pressure to liquidate if a suitable takeover bid is not received by 31 July.
The listed company is under siege from property tycoon Vincent Tchenguiz, who has vowed to realise his 28% shareholding (through company Elsina) to pay off shareholders if no bid is put forward. In a circular sent to voters yesterday (21 May), the board urges shareholders to reject Tchenguiz's proposal to oust the four existing directors of the company and replace them with three others, who will be charged with liquidating the company. Investment Week
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