Southend-2

[Andy_S]

Originally Posted by rowly6339

tinklers camp have around 1/3 of the votes they hardly have it in their favour, far from it.

They have about a third of the votes in the bag simply from Neil Woodford’s institutional shareholding and Tinkler’s personal stake. What’s not known is which way the rest of the votes will fall, and they only need to secure about a quarter of these to win. One other institutional shareholder, while not actually declaring for either party, has publically refused to give the board his full backing and a few days ago one of the non-execs switched his loyalty to Tinkler. Of course, this may just be a case of better news management from Tinkler’s camp, but they only need one or two major shareholders to pitch in with them and suddenly it becomes too close to call.

Also worth observing that if Tinkler does get his way, then most of the other directors, including Warwick Brady, will almost certainly quit, in which case the turmoil will continue.

I should add that I myself don’t have a dog in this particular race and am less then enthused about either of the factions.