Activist investor Gatemore calls on UK pollster YouGov to explore sale (updated)
20/11/2024 16:08
(Adds details on share price performance, executive comment and
background in paragraphs 2, 5, 6)
Nov 20 (Reuters) - Activist investor Gatemore Capital on
Wednesday urged British polling and research company YouGov
YOU.L to conduct a review of its business and initiate a sale
process.
Gatemore attributed the company's share price performance to
operational missteps. YouGov's shares have fallen 63.7% so far
this year.
Some concerns outlined by Gatemore, which has a stake of
around 1% in YouGov, include the pollster's failure to provide
timely financial forecast and a lack of clarity on achieving
mid-term targets.
YouGov did not immediately respond to a request for a
comment.
"We are deeply confident in YouGov's fundamental strengths
and long-term potential," said Liad Meidar, managing partner at
Gatemore. "However, urgent actions are needed now to help the
company chart a path towards realizing its intrinsic value."
In April, Gatemore had called for British specialty
chemicals firm Elementis' ELM.L board to review its operations
and replace the CEO amid a fall in the share price.
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by
Shreya Biswas and Shounak Dasgupta)
((DhanushVignesh.Babu@thomsonreuters.com))