Sherborne sticks firm to Barclays revamp plan despite plunging NAV
20/08/2020 07:20
LONDON, Aug 20 (Reuters) - Activist Sherborne Investors
SIGC.L has committed to pursuing a shake-up in the management
and strategy at Barclays BARC.L , despite posting a 56% fall in
its net asset value (NAV) in the last six months to 351 million
pounds ($459.32 million).
The investment vehicle, which is backed by several major
British fund firms including Aviva AV.L , Schroders SDR.L and
Jupiter Asset Management JUP.L , said it would continue its
dialogue with Barclays "for as long as it appears to be
appropriate to do so".
The investor said it currently holds a 5.9% stake in the
lender following recent stock purchases. The Barclays share
price has fallen by around 36% in the six months to June 30.
($1 = 0.7642 pounds)
(Reporting By Sinead Cruise; editing by Simon Jessop)
((sinead.cruise@thomsonreuters.com; 020 7542 5154; Reuters
Messaging: sinead.cruise.thomsonreuters.com@reuters.net))