OrotonGroup’s major shareholders are under increasing pressure to privatise the upmarket accessories retailer so it can be restructured away from the glare of public markets.
Fund managers have stepped up calls for the company to be taken private after its shares went into a trading halt on Monday before another profit downgrade, the second in five months.
Perennial Value fund manager Grant Oshry believes major shareholders who own about 45 per cent of the company, including the founding Lane family and Caledonia Funds chief investment officer Will Vicars, should buy out minority investors so the struggling retailer can be restructured in private.
“This is a business that needs to do quite a bit of restructuring, which is best…
Read the full article at: http://www.afr.com/business/retail/orotongroup-shares-halted-pending-downgrade-20170514-gw4t0d