Delancey Estates managing director James Ritblat has urged shareholders in Tops Estates to find a third party buyer for itself or sell off assets.
Delancey, the biggest independent investor in Tops with a 7% stake, appealed to Tops shareholders to stop Everard Goodman, strengthening his grip.
He wants shareholders to vote against a resolution that would waive a requirement for Goodman to make a bid for the company if his stake increased as a result of share buy-backs.
He currently has 47.5% in the company. Tops admitted it was unlikely to see off the shareholder revolt against the buy-back.
Financial Times 17/08/00 page 28
The Daily Telegraph 17/08/00 page 30
The Times 17/08/00 page 28
The Independent 17/08/00 page 15
