Investors demand an EGM at Alliar in Brazil to discuss allegations against executives
- ByStartupStory | January 29, 2022
Esh Capital, a Brazilian asset manager, has urged Alliar, a medical lab company, to call an extraordinary shareholder meeting to discuss allegations of financial wrongdoing by two company executives.
MAM Asset Management, owned by tycoon Nelson Tanure, made the allegations in early November, shortly after buying a 27.3 percent stake in Alliar from Patria Investments Ltd.
MAM requested an extraordinary general meeting (EGM) at the time, stating that it was considering filing lawsuits against the executives, who are also Alliar shareholders.
The allegations have elicited no response from Alliar.
Later in November, Alliar announced that a large group of shareholders, including the two executives, had agreed to sell their shares in the company to MAM for 20.50 reais each. At the same time, MAM requested a two-month delay in the EGM it had requested.
Esh Capital, which owns about 2.5 percent of Alliar’s stock, asked Alliar to hold the EGM in a letter signed by its lawyers and seen by Reuters on Wednesday.
“MAM Asset made public accusations, and we can’t just pretend they didn’t exist,” Esh Capital partner Vladimir Timerman told Reuters.
Representatives from Tanure and MAM declined to comment on the allegations or the EGM request.
Alliar also declined to comment on the EGM request, stating only that the MAM deal had been approved by antitrust regulator Cade.
On Thursday, Alliar’s stock closed at 15.64 reais.
Follow Startup Story
Related Posts
