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British Energy investors demand EGM

Invesco support for rebel shareholders wanes

Two of British Energy's leading institutional investors have demanded the UK nuclear power generator calls an extraordinary general meeting as the latest step in their resistance to a controversial rescue plan.

Polygon Investment Partners, the hedge fund with a 6.9% stake in British Energy, and Brandes Investment Partners, the US fund manager with 5.6%, have asked the shareholders to vote on five resolutions at the meeting, said British Energy. If the resolutions are passed, they will restrict the board of directors' room for manoeuvre in the fight that has broken out over the debt restructuring that was agreed last September.

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