Activist Teleios seeks Maisons du Monde talks over board moves - letter (updated)

Maisons du Monde SA

09/03/2020 13:19

(Adds company comment, link to letter)
    LONDON, March 9 (Reuters) - Activist hedge fund firm Teleios
Capital Partners on Monday wrote to the board of French
furniture and home decor company Maisons Du Monde  MDM.PA 
urging it to seek support from major shareholders before any
appointments to the board are announced.
    Teleios, MDM's biggest shareholder with around 13.3% of its
stock, said it had repeatedly raised concerns with the company
regarding its operating performance, investor communication and
corporate governance, it said in a letter http://www.teleioscapital.com/documents/2020.03.09-Teleios-Letter-to-the-Board-of-MDM.pdf
 seen by Reuters.
    Teleios said it understood new board appointments were
expected to be made imminently, potentially including a new
chairman, and that investors needed to be consulted.
    "We regret that our repeated attempts to have a constructive
dialogue with the Board around these proposed appointments have
been rejected," Teleios said in the letter.
    Officials at Maisons du Monde could not be reached for
comment.

 (Reporting by Maiya Keidan, additional reporting by Blandine
Henault in Paris; editing by Simon Jessop and Rachel Armstrong)
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