Proxy adviser backs miner Sherritt against activist
TORONTO, April 21
TORONTO, April 21 (Reuters) - Proxy adviser Institutional Shareholder Services is backing Sherritt International Corp in its proxy battle, the Canadian miner said on Monday, recommending that clients withhold votes from a slate of board nominees put forward by activist investor George Armoyan.
Armoyan is chief executive of Clarke Inc, a Halifax, Nova Scotia-based investment holding company listed on the Toronto Stock Exchange.
Shareholders affiliated with Armoyan, including Clarke, together beneficially own some 5 percent of Sherritt's shares. (Reporting by Allison Martell; Editing by Steve Orlofsky)
- China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan |
- U.S. court rulings create new uncertainty over Obamacare
- Israel pounds Gaza despite international peace efforts |
- EU readies possible capital, tech sanctions on Russia
- Train carrying MH17 bodies on final journey reaches Ukraine city |