Crystal Amber Fund Limited Crystal Amber withdraws requisition of Allied Minds

 
TIDMCRS TIDMALM 
 
11 December 2019 
 
                          CRYSTAL AMBER FUND LIMITED 
 
                     ("Crystal Amber Fund" or the "Fund") 
 
Crystal Amber Fund withdraws requisition of General Meeting of Allied Minds plc 
 
Crystal Amber Fund, the activist investment fund, notes the announcement made 
today by the Board of Allied Minds plc ("Allied Minds") in response to the 
Fund's general meeting requisition announced on 21 November 2019.  In light of 
Allied Minds'  appointment to its board of Mark Lerdal, the director candidate 
proposed by the Fund (who has directly relevant experience of realising 
shareholder value from a comparable US-based, UK-listed company), and the other 
announced changes to the Allied Minds board and to executive compensation, the 
Fund has formally withdrawn the requisition notice. 
 
Actions such as the announced board changes and the focus on maximising cash 
returns to shareholders - not least from the recent sale of Allied Minds' stake 
in HawkEye 360 - demonstrate the value of Crystal Amber Fund's activist 
investment approach. 
 
Richard Bernstein, investment adviser to Crystal Amber Fund, said: "We have 
always attempted to engage positively in a private manner with our investee 
companies in an effort to effect change in the interests of all shareholders. 
 This is one of a small number of cases where we have felt obliged to take 
public action to ensure that shareholder interests are being properly 
considered.  We are pleased that the Board of Allied Minds has engaged with us 
and the outcome of this process is an acknowledgment that Allied Minds can do 
more to maximise the realisation of shareholder value.  We are also encouraged 
about the progress we believe can now be made in this regard." 
 
For further enquiries please contact: 
 
Crystal Amber Fund Limited 
 
Christopher Waldron (Chairman)                                 Tel: 01481 742 742 
 
Allenby Capital Limited - Nominated Adviser 
 
David Worlidge/Liz Kirchner                                    Tel: 020 3328 5656 
 
Winterflood Investment Trusts - Broker 
 
Joe Winkley/Neil Langford                                      Tel: 020 3100 0160 
 
Crystal Amber Advisers (UK) LLP - Investment Adviser 
 
Richard Bernstein                                              Tel: 020 7478 9080 
 
 
 
 
END

(END) Dow Jones Newswires

December 11, 2019 10:13 ET (15:13 GMT)

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