Business Services Industry
British Asset Management Company Issues Apology to Shareholders.
Knight Ridder/Tribune Business News, May, 2002
Daily Mail, London Knight Ridder/Tribune Business News
May 31--Aberdeen Asset Management, one of the companies at the centre of the split capital investment trust debacle, has made a grovelling apology to shareholders in its high income trust for failing to tell them about an egm.
The meeting, attended by around 30 small investors, was held in London on May 21. But hapless PEP and ISA investors were not told until the following day.
The trust was forced to call the egm under section 142 of the Companies Act because its assets had plunged so sharply.
Spokesman Piers Currie said: "People did not lose any voting rights, but it is an embarrassing administrative mistake. We are very sorry. We are taking steps, so it does not happen...
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