Argo Group refutes ‘naive or false’ claims by activist investors
“Don’t be fooled by Capital Returns’ self-serving agenda or the constant drumbeat of naive or false allegations that seek to disrupt the positive momentum that the board and management have built, especially with respect to the strategic review process. I highly recommend it.”
This was the allegation made by Argo Group International Holdings in a letter to shareholders ahead of the underwriter’s December 15 annual shareholders’ meeting. The communication, which is over 2,000 words in length, is intended to “set the record straight” as far as the Capital Returns Master’s claims expressed by President Ronald Bobman are concerned. In the letter, Argo listed some of Bobman’s allegations, followed by what the insurance company called “true facts.”
Part of Argo’s letter states: A creative idea or a concrete form of action. “
Bobman and David Michelson had been suggested by Capital Returns to replace Argo directors Bernard Bailey and Al Noor Ramzi.
In a message to shareholders, Argo emphasized: As a result, the board’s level of expertise and diversity may be reduced, delaying or hindering the most critical stage of strategic review. ”
The company continued to describe itself as “laser-focused” on ensuring it was on the right path to maximizing value for its shareholders.
“It is our strong view that the ongoing strategic review process is best overseen by the current Argo Board of Directors and its Strategic Review Committee, rather than the Capital Returns candidates,” said Argo. says. “Protect the value of your investment by voting for the ‘FOR’ Argo candidate with your BLUE proxy his card before the deadline of December 13, 2022 at 9:00 AM Bermuda local time (8:00 AM ET) recommended. “
Argo shareholders registered as of October 26 are entitled to vote.
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Argo Group refutes ‘naive or false’ claims by activist investors
Source link Argo Group refutes ‘naive or false’ claims by activist investors
