AVI Urges Removal of Third Point's TPIL Director

LONDON--(BUSINESS WIRE)-- Asset Value Investors Limited ("AVI") urges Shareholders to vote FOR the removal of Joshua L Targoff as a director of Third Point Investors Limited (TPIL) to indicate their support for AVI’s proposed discount control mechanism.

AVI and three other Shareholders including Metage Funds Limited and Global Value Fund Limited, together representing over 18 per cent. of TPIL’s ordinary shares, requisitioned the Board of TPIL on 2 November 2021 requiring to convene an EGM at which Shareholders will be asked to vote on a resolution to remove Joshua L Targoff, the representative of Third Point LLC on the Board, as a director of TPIL.

The date for the EGM has now been set as 1 December 2021.

Tom Treanor, Executive Director, Asset Value Investors comments: “AVI and its fellow requisitioners have for some time now sought a vote on a proposed discount control mechanism to be implemented at TPIL. The Board’s intransigence and disregard for good corporate governance in their continued refusal to put our discount-control related resolution to Shareholders has led us to propose this resolution instead as a proxy.

“Shareholders wishing to express their support for our original resolution should vote FOR the resolution to remove Mr. Targoff.”

AVI published today an open letter to Shareholders providing a full background for their requisition.

The letter can be read here: https://www.assetvalueinvestors.com/third-point-public-letter-november-21

View source version on businesswire.com: https://www.businesswire.com/news/home/20211111005754/en/

Tom Treanor 
[email protected] 

Source: Asset Value Investors Limited

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