I have a small holding in Athelney Trust plc (ATY) and, a few months ago, received a strange letter from them asking for my consent under GDPR.
As they don't need my consent (the lawful basis is their legal requirement to hold my data), I thought nothing more of it.
Today I received a letter about an EGM which suggests that there is a boardroom coup in progress.
Anyone got any more details??
Got a credit card? use our Credit Card & Finance Calculators
Thanks to Rhyd6,eyeball08,Wondergirly,bofh,johnstevens77, for Donating to support the site
Athelney Trust plc : Boardroom coup?
-
- Posts: 16
- Joined: August 31st, 2018, 1:29 pm
- Has thanked: 7 times
- Been thanked: 4 times
-
- Lemon Half
- Posts: 6139
- Joined: November 4th, 2016, 1:12 pm
- Has thanked: 1589 times
- Been thanked: 1801 times
Re: Athelney Trust plc : Boardroom coup?
Have you seen the detail provided here?:
https://www.investegate.co.uk/athelney- ... 00011440L/
It ends with:
The Directors recommend it is in the best interests of Athelney Trust Plc that shareholders vote FOR item 1 in the agenda and AGAINST items 2 through to 9.
Fwiiw, I can't see an item 9 there but it would appear to be the 9th item described as Ordinary Resolution 8 on page 7 here:
http://www.athelneytrust.co.uk/perch/re ... r-2018.pdf
https://www.investegate.co.uk/athelney- ... 00011440L/
It ends with:
The Directors recommend it is in the best interests of Athelney Trust Plc that shareholders vote FOR item 1 in the agenda and AGAINST items 2 through to 9.
Fwiiw, I can't see an item 9 there but it would appear to be the 9th item described as Ordinary Resolution 8 on page 7 here:
http://www.athelneytrust.co.uk/perch/re ... r-2018.pdf
-
- Posts: 16
- Joined: August 31st, 2018, 1:29 pm
- Has thanked: 7 times
- Been thanked: 4 times
Re: Athelney Trust plc : Boardroom coup?
Yes, all that is in the documentation I received today.
At face value it looks, to me, as though a former director has changed his mind about quitting and now wants to kick the board out.
I'm just wondering if there is anything else that would be worth knowing before I tick the box(es)...
At face value it looks, to me, as though a former director has changed his mind about quitting and now wants to kick the board out.
I'm just wondering if there is anything else that would be worth knowing before I tick the box(es)...
-
- Lemon Pip
- Posts: 94
- Joined: November 12th, 2016, 11:35 am
- Has thanked: 96 times
- Been thanked: 67 times
Re: Athelney Trust plc : Boardroom coup?
Not just any director, Boyle was founder and managing director responsible for all investments of the trust from 1994 to last October.
Whatever the merits of the bun fight, the current Chairman's biannual reports have all ways been an entertaining read.
Whatever the merits of the bun fight, the current Chairman's biannual reports have all ways been an entertaining read.
-
- Posts: 16
- Joined: August 31st, 2018, 1:29 pm
- Has thanked: 7 times
- Been thanked: 4 times
Re: Athelney Trust plc : Boardroom coup?
I've now received a letter from Athelney telling me that they shouldn't have sent the last letter.
It seems they should have run the vote via the Nominee holder, whom I should contact to instruct them how I wish to vote.
Apart from this all looking a bit amateurish, I thought there were established mechanisms for nominee holders to get responses from shareholders...?
Also, it probably explains the GDPR letter they sent me - presumably the Nominee holder gave them my details....in which case that looks like a GDPR failure on the part of the Nominee...
Either way, I still don't know how to vote...
It seems they should have run the vote via the Nominee holder, whom I should contact to instruct them how I wish to vote.
Apart from this all looking a bit amateurish, I thought there were established mechanisms for nominee holders to get responses from shareholders...?
Also, it probably explains the GDPR letter they sent me - presumably the Nominee holder gave them my details....in which case that looks like a GDPR failure on the part of the Nominee...
Either way, I still don't know how to vote...
-
- Lemon Pip
- Posts: 94
- Joined: November 12th, 2016, 11:35 am
- Has thanked: 96 times
- Been thanked: 67 times
Re: Athelney Trust plc : Boardroom coup?
Yikes, Boyle and the new board gone.
Difficult to work out if the proposed tender offer makes this a punt.
Difficult to work out if the proposed tender offer makes this a punt.
Return to “Investment Trusts and Unit Trusts”
Who is online
Users browsing this forum: ebelfield and 26 guests