FD lines up for start at Newbury racecourse
Investment group GPG Holdings is attempting to oust the board of Newbury racecourse and parachute in its FD Laurie Todd, as a director of the track.
GPG is currently engaged in a hostile takeover of the prestige Berkshire
racetrack where it is already a shareholder. The investment firm is demanding an
extraordinary general meeting to ensure the current management is stopped from
selling off surplus land for development, according to the Sunday Telegraph.
Newbury is not only the venue for the Gold Cup, but also plays host to
conferences and exhibitions as well as being home to an 18 hole golf course.
GPG has revealed a £35m bid for Newbury and currently owns a little more than
26% of the company and needs support of around 50% to carry through its