Plenty of 'noise' from Mr Lew in the last 12 hours: (this is from 'The Australian' online and will be in the usually excellent print edition tomorrow):
"Billionaire and major shareholder in department stores owner Myer, Solomon Lew, has fired his opening shot in his renewed war to seize control of the Myer boardroom, demanding it delay its annual general meeting after its full-year results are released, so he can properly assess its performance, and for Myer to also immediately provide a trading update.
There was also a threat. Mr Lew warned that if his “common-sense” request wasn’t met by Myer then he would use his 15.77 per cent stake to call an immediate extraordinary general meeting — which would be costly and held close to the AGM - where he would seek to kick out Myer directors.
Mr Lew, who through his Premier Investments company has been stalking Myer since 2017 when it bought a 10.77 per cent stake in the business and recently upped his stake to almost 16 per cent, has also revealed he is close to naming his proposed nominees for the Myer board as he looks to eject the acting chairman and remaining Myer directors.
However, in a slight change in strategy and stopping short of calling an immediate extraordinary general meeting to sweep the entire Myer board away, Premier Investments has issued a statement on Tuesday requesting a delay of the AGM, slated for around November, after the full-year results are issued in early September.
“Premier is currently in discussions with several highly regarded and well credentialled independent non-executive directors but would not reasonably seek their commitment to nominate for the Myer board without allowing them to first review Myer’s full-year fiscal 2021 results, which have historically been released in early September,” the Premier Investments statement said.
“Myer concluded its 2021 financial year on Saturday 31 July 2021 and has not provided any updated financial information since the release of its first half 2021 results on 4 March 2021.”..."
(20min delay)