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Wagamama owner facing new attack over ‘ruinous and devastating price performance’
An activist investor has launched a new attack against the owner of Wagamama over his “devastating and devastating share price performance.”
Oasis, which owns 6.5 percent of The Restaurant Group (TRG), called for better communication with investors.
Last week, it demanded sweeping changes after a 65 percent drop in share price over the past year.
Shares fall: Hong Kong-based activist investor Oasis – which owns 6.5% of Wagamama owner The Restaurant Group – called for better communication with investors
Now Oasis says “more of the same ruinous and devastating price performance is not an option” and if they don’t cooperate with shareholders, they have “no recourse but to try and hold TRG’s representatives accountable.”
No trade update in January meant it “missed a clear opportunity to inform stakeholders” about the cost-of-living impact unlike rivals, it said.
TRG said it had “provided a full response” to a letter from Oasis on Feb. 16 and would provide an update on full-year results on March 8.