The Investment Association [IA] and ISS are taking action to oust billionaire Sir Charles Dunstone as chairman of TalkTalk following a controversial £200m ($267m) Cash Box placing in February that breached IA guidelines. In the letter, which was obtained by Business Insider, IAC said it had "received information from an independent source regarding allegations made against Mr Dunstone." The ISS has added its support advising clients to oppose their re-election citing the share sale and concerns over the independence of the board.
The Investment Association [IA] and ISS are taking action to oust billionaire Sir Charles Dunstone as chairman of TalkTalk following a controversial £200m ($267m) Cash Box placing in February that breached IA guidelines. According to the Sunday Telegraph, the IA has issued a “red top” alert signalling that institutional investors may wish to vote against the re-election of Sir Charles and three other directors at the company AGM scheduled for later this month. The ISS has added its support advising clients to oppose their re-election citing the share sale and concerns over the independence of the board.