Dash for emergency cash provokes fund industry backlash

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As companies pull the emergency cash cord to help them through the coronavirus crisis, shareholders have been split by an easing of the rules to make it easier for them to turn to investors with the deepest pockets.

FILE PHOTO: An English ten Pound note is seen in an illustration taken March 16, 2016. REUTERS/Phil Noble/Illustration

These allow companies to skip the conventions of investor roadshows, the publication of detailed prospectuses and so-called pre-emption rights, which bestow equal rights on all shareholders to participate in any capital increase. Richard Buxton, head of UK equities at Merian Global Investors, said he proactively encouraged British food and drinks provider SSP to raise cash last month.

“We wanted to get it over and done with, get the issue knocked on the head so the company could stand its corner.”

 

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Good one! You have just started a run in the bank! Where is that international sign of recognition icon on twitter?

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