25 July 1997
Plantation slams attempts to come on board
Plantation & General directors have slammed as opportunistic
attempts by George Soros fund manager Nicholas Roditi to win a seat on
the board of the tea grower.
Roditi has nominated former Bank of England deputy governor Rupert
Pennant-Read and Derek Netherton, a director of St James Place Capital,
as replacement board members. He wants to oust Mr Legg and chairman
Selwyn Pryor. Roditi has secured the backing of the Italian group
Codeleuf Insurance, which has 9% of the shares.
Roditis privately-owned firm Rovida International previously made a
bid approach to Plantation which was rejected as too low.