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C&C Group PLC - Dublin-based beer, cider, wine, spirits, and soft drinks maker and distributor across UK and Ireland - Puts in place ’cooperation agreement’ with disgruntled shareholder Engine Capital LP, under which the C&C board and the investor will ‘work constructively’ together. Engine, a 5.0% shareholder, had nominated two directors for election to the C&C board at its August 15 annual general meeting, noting the majority of the current C&C directors own no C&C shares at all. It now will withdraw these nominations. However, C&C will appoint a new non-executive director ‘with capital markets expertise’ from a short-list agreed with Engine, C&C says, and Engine will support all resolutions at next week’s AGM. Current stock price: 151.40 pence, down 0.9% in London on Thursday 12-month change: up 6.2% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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