business-in-london.biz
 
 
New records

London news

Einhorn pleads with investors on Apple vote

0000-00-00

JAMES TITCOMB

BILLIONAIRE investor David Einhorn yesterday pleaded with fellow Apple shareholders to vote against the iPhone maker’s proposals to change its corporate practice.

Einhorn’s Greenlight Capital hedge fund, which owns around $600m (?394m) in Apple shares, laid out proposals that would see billions of dollars returned to shareholders.

Einhorn said that despite the company’s history of product innovation its “attitude to managing its cash has been decidedly non-innovative”.

Greenlight Capital wants the company to distribute a new class of preferential Apple shares – which he dubbed iPrefs – that would be handed out to investors and return a regular, fixed dividend.

Apple has said it is considering Einhorn’s proposals. However, a board proposal at its upcoming annual meeting would see it prevented from issuing the kind of preferential stock suggested by Einhorn.

Greenlight Capital is also taking the company to court, claiming the proposals would violate US corporate laws. On Tuesday the judge presiding over the trial said Einhorn was likely to win the case.

Einhorn said his suggestions would return value to investors, while leaving Apple with cash to make acquisitions, and preventing it from jeopardising its business. Apple’s shares have fallen by a third since their summer highs.

“[The proposals] don’t interfere with whatever business plan Apple has, we want them to keep innovating and designing products we can’t imagine living without,” Einhorn said, imploring shareholders to “send [Apple] a clear message”. Apple did not comment.

ALPHABET LISTING (A)


Pages: [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] [21] [22] [23] [24] [25] [26] [27] [28] [29] [30] [31] [32] [33] [34] [35] [36] [37] [38] [39] [40] [41] [42] [43] [44] [45] [46] [47] [48] [49] [50] [51] [52] [53] [54] [55] [56] [57] [58] [59] [60] [61] [62] [63] [64] [65] [66] [67] [68] [69] [70] [71] [72] [73] [74] [75] [76] [77] [78] [79] [80] [81] [82] [83] [84] [85] [86] [87] [88] [89] [90] [91] [92] [93] [94] [95] [96] [97] [98] [99] [100] [101] [102] [103] [104] [105] [106] [107] [108] [109] [110] [111] [112] [113] [114] [115] [116] [117] [118] [119] [120] [121] [122] [123] [124] [125] [126] [127] [128] [129] [130] [131] [132] [133] [134] [135] [136] [137] [138] [139] [140] [141] [142] [143] [144] [145] [146] [147] [148] [149] [150] [151] [152] [153] [154] [155] [156] [157] [158] [159] [160] [161] [162] [163] [164] [165] [166] [167] [168] [169] [170] [171] [172] [173] [174] [175] [176] [177] [178] [179] [180] [181] [182] [183] [184] [185] [186] [187]

A & A Jewellery (London) Ltd. A & H Velleman Ltd. A Ahlers (U K ) Ltd. A Booth Ltd.
A D D P Ltd. A Darsow Ltd. A Hartrodt (Midlands) Ltd. A of I Ltd.
A Ok Motors Ltd. A & A (Ahmad) Removals A & A Afro Cosmetics A & A Antiques
A & A Artshops A & A Autos A & A Beauty Health & Beauty Salon A & A Builders
A & A Car Sales A & A Care Medical Locum Agency A & A Cars Ltd. A & A Chauffeurs
A & A Chauffeurs Ltd. A & A Computers A & A Consultants (Holding) Ltd A & A Decorators
A & A Domestic Appliances A & A Driving School A & A Electrical Distributors Ltd A & A Electrical Distributors Ltd.
A & A Electrics A & A Finance & Commerce International Ltd A & A Fish Bar A & A Furniture
A & A Futures Limited A & A Glass A & A Heating A & A Hogan Ltd.
A & A International Corporation Ltd A & A International Travel A & A Investigations A & A IT& Tranlsation Services
A & A Jewellery Ltd. A & A Kutner A & A Motors A & A News
A & A Newsagents A & A Office Furniture A & A Plumbing A & A Removals
A & A Repairs Authorised Service Centre A & A Rubbish Clearance A & A Seamless Guttering A & A Self Storage Ltd
A & A Self-Storage Ltd. A & A Services A & A Shah A & A Skip Hire
A & A Soft Furnishing Ltd A & A Stammers A & A Traders A & Autoclear Car Removals & Disposal
A & B (Chrome Plating) Ltd A & B Associated Lenders Ltd A & B Bloomstein Ltd. A & B Building
A & B Candy Store A & B Carpet Warehouse A & B Clearance A & B Computer Services Ltd.
A & B Continental Transport A & B Couriers A & B Decorators Ltd. A & B Domestic Repairs
A & B Electrical A & B Electrical Contractors Ltd. A & B Electrics A & B Fashions
A & B Glass A & B Heating & Plumbing Service A & B Joinery A & B Kaye (Textiles) Ltd.
A & B Maths & Computing A & B Mini Cab Services A & B Motors A & B Partners
A & B Personal Management Ltd. A & B Pet Foods A & B Photographic A & B Recovery
A & B Removals A & B Shoes A & B Signs A & B Trading Enterprising Ltd.
A & B Tyres Ltd. A & B Welding A & B Wines A & C Black Plc
A & C Black Publishers Ltd. A & C Cleaning Services Ltd A & C Co. A & C Coach Trimmers & Upholsterers