'Poison pill' stop Johnston Boardroom coup in controversial stance

'Poison pill' stop Johnston Boardroom coup in controversial stance

Executive Grapevine
Executive Grapevine | Executive Grapevine International Ltd

An attempted coup at Johnston Press has been stopped in its tracks by a controversial ‘poison pill’ defence – The Telegraph reports. Christen Ager-Hanssen is an activist attempting to oust Chair Camilla Rhodes and the senior management team, in order to place control back to the newspaper’s lenders. However, he has been forced to delay after advisors discovered a ‘tripwire’ in certain documents.

Ager-Hanssen was in talks to attempt to circumvent the “dead hand proxy put” in order to progress. The Telegraph reports that Johnston Press inserted the proxy to attempt to secure a lower interest rate – however, it can also trigger a default when a Boardroom coup is set upon.

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