FirstGroup says shareholder bid to revamp board not in its "best interests"

FILE PHOTO: A greyhound sits beside a Greyhound bus at the launch of FirstGroup's new Greyhound UK service in London August 19, 2009. REUTERS/Luke MacGregor - Copyright Luke MacGregor(Reuters)

By Reuters

Published on 04/06/2019 - 09:34•Updated 27/04/2024 - 03:04

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(Reuters) - Britain's FirstGroup plc said on Tuesday Coast Capital's proposal to appoint seven of its board nominees was not in its "best interests", days after the company put its iconic North American bus line Greyhound for sale.

Coast Capital, which owns a stake of around 10% in the company, in May requested a shareholder meeting to consider its proposal.