Asset Value Investors (AVI) has launched a campaign calling for shareholder support to remove and replace Symphony International Holdings' board of directors due to "poor performance".
AVI owns a 15.4% stake in SIHL on behalf of institutional clients. Having first invested in 2012, it now claims that a continued approach of constructive private engagement "has no prospects of success". Symphony International Holdings is a closed-end investment vehicle managed from Singapore and listed on the London Stock Exchange. It was formed in 2004 with an investment objective of increasing net asset value through long-term strategic private equity investments in consumer-related businesses - primarily in the hospitality, healthcare and lifestyle sectors in Asia-Pacific (particu...
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