An Analysis of the Alliance Trust Defence

ShareSoc has now issued a fuller analysis of the case for change at Alliance Trust, and the defence notes issues by Alliance Trust. It is present in this document on our web site:

http://www.sharesoc.org/ShareSoc_Alliance_Trust_Analysis.pdf

This is what is said in the conclusion of that document:  We think it was perfectly reasonable for Elliott Advisors to take up their worries with Alliance and propose directors if they considered the issues they have raised were not being dealt with. Requisitioning resolutions is simple democracy upon which shareholders can make their own minds up. We would have preferred to see a more considered and less hectoring response from Alliance.

Shareholders are of course encouraged to make their own minds up on this matter and ensure they vote. As private shareholders are in the majority in this company, it is very important that you do vote as you will decide the outcome. Shareholders who have difficulty in doing so because of the existing prevalent use of nominee accounts (a disgraceful state of affairs in our view on which we are running a campaign at this time) should contact ShareSoc for advice. Let us hope the outcome of the vote at Alliance is not affected by such problems.

Roger Lawson

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