THREE EX-BARCLAYS BANKERS CONVICTED OVER LIBOR SCANDAL

CITYAM.COM
TUESDAY 5 JULY 2016
NEWS
15
German investor
calls for John
Menzies to split
OLIVER GILL
@ojngill
JOHN MENZIES, the distribution and
aviation services company, faced fresh
calls yesterday for change from an
activist investor after it upped its stake
in the troubled company.
Shareholder Value Management
(SVM) has built up a seven per cent
shareholding, and yesterday urged the
leadership to split the Edinburgh-based
company into two entities.
“SVM strongly urges the company to
separate the aviation business from the
distribution business, a move that
would be immediately and
significantly value accretive,” it said in
a statement to the stock exchange.
Such a split was proposed in April by
another shareholder, Lakestreet
Capital, which was rumoured to be
planning to vote down the re-election
of former chairman Iain Napier.
This led to Napier standing down just
two days before the company AGM in
Recently joined City Giving Day
Why are you supporting CGD?
City Giving Day is a fantastic
opportunity for Saunderson House to
emphasise the importance of our
focus on people and being socially
responsible. We are an enthusiastic
team and City Giving Day encourages
everyone to remember our charity
support goals.
Which charities do you support?
Action for Children was appointed our
charity partner by employees. They
work in the heart of local
communities, providing support to the
young and vulnerable. We also
CHARITY IN ACTION
In May, 10
employees
participated in the
Tough Mudder
obstacle course,
putting their sense
of humour and
physical fitness to
the test. They
raised £3,220 for
Action for
Children.
May, a departure that had been preceded
by the resignation in January
of CEO Jeremy Stafford for “personal
reasons” and of chief financial officer
Paula Bell in April.
SVM added it felt the board’s troubles
were now behind it.
“SVM believes that the company -
after two challenging years – is finally
on the right track to take the
appropriate actions to realise value
for its shareholders,” it said.
Former non-executive director,
Dermot Jenkinson took over from
Napier as interim chairman after
agreeing to lead the process to find
a permanent replacement.
But SVM analyst Gianluca Ferrari
questioned whether Jenkinson was
the right person to do this as he
had connections through his wife
to the Menzies family, the largest
shareholder.
“Accordingly, SVM encourages
the timely nomination of a new
independent chairman,” SVM said.
sponsored the 2015 annual Christmas
carol concert at St Bartholomew’s
Hospital, a renowned teaching
hospital located minutes from our
office. We are sponsoring again this
year.
How will you celebrate CGD?
This year Saunderson House will be
celebrating City Giving Day with a staff
sweet and savoury bake off. We will
also be encouraging employees to get
involved with volunteering by
showcasing these opportunities
within the office on the day. All funds
will go to Action for Children!
Saunderson House’s
donations will
improve some of the
most disadvantaged
children’s lives and
help them to reach
their potential.
Rachel Mederson,
Action for Children
REGISTER NOW AT
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Pension regulator extends Capita
contract in £37m three-year deal
OLIVER GILL
Pensions Regulator, said: “The those yet to fully implement it. The
continuation of our partnership with firm will still administer some “noncomplex”
correspondence on behalf
@ojngill
Capita will ensure stability and
SUPPORT services giant Capita was consistency, taking us to the point of The Pensions Regulator, such as
yesterday awarded a contract
where all existing employers
issuing non-compliance penalty
extension from The Pensions
will have undergone autoenrolment.”
had awarded Capita the contract
notices. The Pensions Regulator
Regulator in a deal worth £37m.
The deal will see Capita continue to Under the extended terms,
in 2011 for seven years. The deal
work with smaller firms, ensuring Capita will control
takes the contract’s value to £142m.
the implementation of the automatic communications to
enrolment of workplace pensions. employers using autoenrolment
as well as
Lesley
The Pensions Regulator boss
Lesley Titcomb, head of The
Titcomb
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