Major shareholder wants new chair and board changes
Lloyd’s insurer Omega is under pressure from its lead investor Invesco, to change chairman and deputy-chairman and take four more non-executive directors, including former Benfield chairman John Coldman, the FT reports.
Invesco, holds 29% of Omega.
Omega said it was attempting to drum up support among other shareholders against Invesco’s call for a special general meeting.
“The board is urging shareholders to consider a number of points, to speak to each other and come up with the best way forward,” it said. “But the actions of Invesco can only be damaging in the short term.”
Emergency meeting
The Telegraph said Invesco has called for an emergency shareholder meeting to vote on the proposed shake-up. Artemis Investments, which holds 11.93% of the company, and Aviva, which has 7.6%, are the other major shareholders in the insurer.
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