Brief: Shareholder Buckley Capital Urges IWG to Move Listing To US

International Workplace

10/09/2024 07:53

Sept 10 (Reuters) - Buckley Capital Management: 
    * BUCKLEY CAPITAL MANAGEMENT SENDS LETTER TO INTERNATIONAL
WORKPLACE GROUP PLC BOARD
    * INVESTOR SAYS "WE ARE CONCERNED THAT EFFORTS BY IWG'S
MANAGEMENT
TO ARTICULATE INVESTMENT MERITS OF COMPANY HAVE FALLEN ON DEAF
EARS, AND FURTHER ACTION NEEDS TO BE TAKEN TO UNLOCK COMPANY'S
INTRINSIC VALUE"
    * INVESTOR SAYS "WE BELIEVE BOARD SHOULD INITIATE A MAJOR
SHARE
BUYBACK AS SOON AS COMPANY REACHES ITS 1X NET DEBT/EBITDA
TARGET. SIMULTANEOUSLY, WE BELIEVE THAT BOARD SHOULD EXPEDITE
RE-LISTING OF IWG'S SHARES ONTO A US STOCK EXCHANGE."
    * URGES IWG BOARD TO EXECUTE A SHARE BUYBACK PROGRAM
    * BUCKLEY CAPITAL MANAGEMENT: MOVING IWG'S LISTING TO US
PRESENTS
A STRATEGIC OPPORTUNITY TO ENHANCE SHAREHOLDER VALUE
    * BUCKEY SAYS IF A US LISTING AND SHARE BUYBACKS DO NOT
CAUSE A
SIGNIFICANT RERATING IN IWG'S SHARES, WE ARE CONVINCED THAT
MANAGEMENT SHOULD EXPLORE A SALE OF BUSINESS IN PRIVATE MARKETS
TO REALIZE COMPANY'S INTRINSIC VALUE

Source text for Eikon:  ID:nPreqYpLCa 
Further company coverage:  IWG.L 

 ((Reuters.Briefs@thomsonreuters.com;))