Fisher Funds Opposes Potentia Capitals Bid for Board Seats at Vista Group

Highlights:

• Shareholder Opposition: Fisher Funds, holding 14% of Vista Group International Limited (NZX: VGL), will vote against board seat nominations proposed by Potentia Capital, Vista's largest shareholder.
• Support for Current Board: Fisher Funds reaffirmed its support for the existing board and company strategy, indicating confidence in the current leadership amid the proposed changes.
• Upcoming Special General Meeting: The conflict will culminate in a special general meeting, where the outcome will determine the future governance and strategic direction of Vista Group.

Vista Group International Limited (NZX: VGL) is facing a significant challenge from its second-largest shareholder, Fisher Funds, which has announced its intention to vote against board seat nominations proposed by the largest shareholder, Potentia Capital. This decision comes ahead of a special general meeting where Potentia aims to secure representation on the board.

Fisher Funds, which holds approximately 14% of Vista Group's shares, expressed its continued support for the existing board and the company's strategic direction in a notice issued to the New Zealand Exchange (NZX) on Tuesday. In the notice, Fisher Funds stated, "We remain supportive of the current Vista board and company strategy," emphasizing its commitment to the status quo amidst the impending shareholder votes.

This development highlights the ongoing tensions between major stakeholders within Vista Group, a company specializing in cinema software solutions. Potentia Capital, aiming to exert greater influence over the company's governance, has proposed resolutions for board changes, which Fisher Funds is poised to oppose.

At the time of writing, this disagreement could have implications for Vista Group’s operational strategy and future growth prospects. The outcome of the special general meeting will be crucial, as it could reshape the company's leadership and governance structure moving forward.

As the situation unfolds, market observers will be keenly watching how both Fisher Funds and Potentia Capital navigate this shareholder conflict and what it means for Vista Group's position in the industry.

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