USG People opens door to pref issue

Staffing agency USG People wants to create the possibility to protect itself against a hostile takeover by issuing preferential shares, the company announced on Friday.

The company wants to issue 65 million preferential shares, around 50% of its share capital. The shares would be owned by a foundation run by independent managers, CEO Ron Icke said in a statement.
Shareholders will be asked to agree the move at a special general meeting on December 23.

For the full USG People statement, click here

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