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F&C urges shareholders to reject Sherborne proposals

Chief executive of fund manager recommends vote against activist proposals at general meeting next month

Fund manager F&C Asset Management on Thursday urged shareholders to reject a campaign by activist investor Sherborne Investors to oust the firm's chairman.

F&C recommended shareholders vote against the proposals to replace chairman Nick MacAndrew with Sherborne founder Edward Bramson and appoint two new directors to the board, at a general meeting scheduled for February 3.

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