British fund manager launches ASMI attack

British fund manager Hermes has given a list of demands to chip machinery maker ASMI to be included at the May 21 AGM, including the sacking of chairman Chuck del Prado and five supervisory board members.

Hermes owns 15% of ASMI and needs to represent 70% of shareholders if it wants its plans to succeed. According to news agency ANP, it does have the backing of US hedge fund Fursa.
ASMI said the proposals ‘are not in the interests of the company or its shareholders’.

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