Amstrad plan meets stiff opposition
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.ALAN SUGAR'S pounds 113m proposal to take Amstrad private was further thrown into doubt yesterday after the company disclosed a high level of opposition from shareholders, writes Neil Thapar.
With less than a week to go, 5,511 shareholders have sent in proxies voting against next Thursday's court meeting to approve the buyout. The meeting requires a majority of shareholders and three-quarters of shares held by those voting to approve the buyout.
Separately, a shareholders' meeting also requires a 75 per cent majority in favour of the 30p-a-share offer from Mr Sugar.
Amstrad revealed yesterday that 45.9 million shares had so far been received in favour for the shareholders' meeting and 33 million against. About 97 million shares would be needed to defeat Mr Sugar's plans.
'We are not doing very well at present,' Mr Sugar said. 'If shareholders really want the money they had better get their proxy forms and vote in favour. The way voting is going they may be expecting a cheque next Friday but won't get it.'
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments