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Petropavlovsk shareholders advised to vote against board overhaul
June 12, 2017 / 3:13 PM / 3 months ago

Petropavlovsk shareholders advised to vote against board overhaul

LONDON (Reuters) - Proxy voting advisor Glass Lewis said investors in London-listed gold miner Petropavlovsk (POG.L) should vote against proposals to overhaul the board at the company’s annual general meeting on June 22.

Three top shareholders have put forward resolutions aimed at replacing Chairman Peter Hambro and three non-executive directors with their nominees, citing corporate governance failures.

Glass Lewis said in a report seen by Reuters, “the dissidents’ arguments lack the substantive detail and refinement that we would expect from a campaign seeking to replace a majority of the board”.

Reporting by Barbara Lewis; Editing by Greg Mahlich

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