The special meeting called for in July by two large shareholders in Quarto Group will be announced shortly, Sky News reports. They have been “leaked” a letter from Tim Chadwick, who the two dissenting owners–confirmed to include The Wellcome Trust (and 9.7 percent owner), and thus by elimination J.O. Hambro Capital Management (a 9.5 percent owner)–want to appoint to the board while removing chairman and ceo Laurence Orbach. Chadwick is said to insist that Quarto sell or close “all loss-making, relatively risky, or unproven activities and [use] the net proceeds to accelerate debt repayment.” He laments that the publishers’ “results […]
