GREG HUTCHINGS

“I am passionate about Lupus”

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 Lupus Capital Shareholders

Former Lupus head in comeback attempt

Jack Farchy | Financial Times October 26 2009

 

Greg Hutchings faces stern resistance from institutional investors this week over his ambition to return to Lupus Capital, the manufacturing investment company from which he was ousted as executive chairman in July. Mr Hutchings, who made his name at the helm of Tomkins, the engineering conglomerate, was replaced at Lupus after the company breached a banking covenant. Since then he has increased his personal shareholding to nearly 11 per cent and requisitioned an extraordinary general meeting in an attempt to unseat four of the current directors and reinstate himself as chairman.  Read more >>>>

 

Hutchings has City on the edge as he plots his comeback

 

Chris Blackhurst | London Evening Standard  28.10.09

 

Never one to go quietly, the former Lupus Capital chief wants to clear out the bosses and reinstate himself. Read more >>>>

 

 

Hutchings loses Lupus Capital vote

Jack Farchy | Financial Times 30.10.09

 

Greg Hutchings said he would not walk away from Lupus Capital after he lost a crucial shareholder vote that would have reinstated him at the engineering investment company, from which he was ousted as executive chairman in July.   Read more >>>>

 

 

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Ousted Chief’s fresh bid to run Lupus

James Ashton | The Sunday Times  January 10, 2010

 

GREG HUTCHINGS is this weekend launching a fresh attempt to be reinstated to the board of Lupus Capital, the building products group. Hutchings, who previously ran the Tomkins conglomerate, was ousted as executive chairman of Lupus last July. He made an initial attempt to rejoin the board last October but was voted down by shareholders.  At the time, Hutchings, 62, vowed he would not walk away from the company, in which he holds an 11% stake, having spent about £9m buying its shares.

 

Now he has called for another extraordinary meeting, where he will ask investors to approve his reinstatement to the board and install him as chief executive of the company, which is valued at £71m. Read More >>>

How Shareholders can have their voices heard

 

Mark Atherton | The Times January 9, 2010

 

You might think that an investor who held shares in a company would automatically be entitled to receive regular reports and accounts and to vote on any issue requiring a decision by shareholders.

 

But you would be wrong. For many years millions of investors have received little in the way of shareholder rights, despite ploughing billions of pounds into UK companies. This means, for example, that many private investors who hold Cadbury shares will not be able to vote on any takeover offers from Kraft or Hershey, the US food and confectionery giants.

 

The anomaly has arisen because an increasing number of people hold their shares in the form of nominee accounts. This applies to virtually all of those who buy shares online and to all the millions of people who hold stocks and shares in an individual savings account (Isa). Read More >>>

New comeback bid by ex-Lupus Capital chief

David Blackwell |  ft.com  January 10  2010

 

Published: January 11 2010 16:56 | Last updated: January 11 2010 16:56

Greg Hutchings has launched a second attempt to return to Lupus Capital as chief executive.

 

Mr Hutchings was ousted as executive chairman of the manufacturing investment company in July last year. However, his attempt at re-instatement failed in October when he lost a crucial shareholder vote Read More >>>

City Spy: Take me back for £1 a year, Greg Hutchings pleads to Lupus  London Evening Standard  27.01.10

 

 

Forget Mitchells & Butlers — another battle royal is raging in the City that shows no sign of abating despite having gone on for several months.

 

Last year, Greg Hutchings, the multi-millionaire former boss of Tomkins, was ousted from Lupus Capital, a decision reiterated at an extraordinary general meeting. Then two weeks ago, Lupus, which had designs on being a mini-conglomrate specialising in unfashionable products such as seals for doors and windows, reinforced the message by appointing a new chief executive, Louis Eperjesi, formerly executive director at building group Kingspan.

 

But Hutchings, a fiercely competitive individual who in his early sixties still plays hockey to a high standard (he turns out for the England Veterans team) and keeps himself fit, refuses to go quietly. He upped his stake in Lupus to 11%, and he's writing to his fellow shareholders again.

 

“Lupus has recently announced a new CEO — Louis Eperjesi,” says the letter. “As a shareholder, like me, you should make enquiries whether he is the right man with the vision, international experience, reputation, track record, financial commitment and skills to develop Lupus. Was this choice made hurriedly to hinder my campaign?”

 

Adds Hutchings: “Ask the chairman, Jamie Pike, whether all members of the board, including the turnaround directors, were always certain and convinced, having interviewed Mr. Eperjesi, that he was the right man for this job and not just a compromise candidate.”

 

The ex-chief sets out why he should be reappointed, including having £9 million invested in the firm, his track record and so on.

 

And he says: “I will further align with shareholders by working for £1 per annum until the share price reaches 90p.” (The shares are currently around 60p.) Hutchings is requisitioning another general meeting — this time to secure his £1 a year reappointment.

 

“Lupus can be a great company. The requisition questions I am asking need to be addressed and not glossed over. I do not seek to remove any directors, but only that your company should be run efficiently and effectively, with good governance and transparency and with a vision for the future.”

 

They're asked to write to him via his website, www.gregegm.com