AGM Report

API Group (API) AGM Report 2013

AGM Date: July 11, 2013

Report Author: Roger Lawson

I attended the Annual General Meeting of API Group today in the City of London at Evershed’s offices (the second of the day the first being Blinkx which I will write up later as it was much longer at 2.5 hours duration). Indeed API Group would have been even shorter at about 30 minutes than it turned out to be if a certain D.S. had not turned up when the meeting was almost over. There were about 4 ordinary shareholders present so far as I could determine, with all the board present. The company has two major shareholders – Steel Partners and Wynnefield Capital who hold 32.4% and 29.7% respectively (they apparently bailed the company out when it got into financial difficulties some time ago). These two shareholders both have

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