{"id":6823,"date":"2007-11-26T00:00:00","date_gmt":"2007-11-26T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-try-to-block-northern-rock-fire-sale","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2007\/hedge-funds-try-to-block-northern-rock-fire-sale.html","title":{"rendered":"Hedge funds try to block Northern Rock fire sale"},"content":{"rendered":"<p>  Times Online- Northern Rock\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s two largest shareholders will force the troubled bank to hold an extraordinary general meeting (EGM) next month, in an attempt to halt a fire sale of the company\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s  assets.<\/p>\n<p>  RAB Capital and SRM Global, two hedge funds with a 6 per cent stake each in Northern Rock, wrote to Bryan Sanderson, the bank\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s chairman, yesterday to demand an EGM.<\/p>\n<p>  The funds plan to use the EGM to call for a shareholder vote on an amendment to the bank\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s articles of association that would prevent the company from disposing of more than 5 per cent of its  assets without approval from investors.<\/p>\n<p><a href=\"http:\/\/news.google.com\/news\/url?sa=T&amp;ct=us\/8-0&amp;fd=R&amp;url=http:\/\/business.timesonline.co.uk\/tol\/business\/industry_sectors\/banking_and_finance\/article2934232.ece&amp;cid=1124032075&amp;ei=D4BKR9T0EKiGqwP28oXmCw\"><strong>ReadComplete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Times Online- Northern Rock\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s two largest shareholders will force the troubled bank to hold an extraordinary general meeting (EGM) next month, in an attempt to halt a fire sale of the company\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s assets. RAB Capital and SRM Global, two hedge [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6823","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6823"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6823\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}