Activist Telios seeks Maisons du Monde talks over board moves - letter

Maisons du Monde SA

09/03/2020 08:45

LONDON, March 9 (Reuters) - Activist hedge fund firm Telios
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.
    Telios, 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 seen by Reuters.
    Telios 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," Telios said in the letter.

 (Reporting by Maiya Keidan; editing by Simon Jessop)
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