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Statement From Knight Vinke Asset Management Concerning HSBC Holdings Plc
NEW YORK, September 7 /PRNewswire/ -- In light of recent guidance published by the FSA (Market Watch, Issue no. 20, May 2007), Knight Vinke Asset Management wishes to inform the market that it intends to engage in a constructive dialogue with the Board and other institutional shareholders of HSBC Holdings plc over the future direction and governance of the Group. In this context, Knight Vinke wrote to the Executive Chairman on 25th May, met with the Group Finance Director on 12th June in New York, and wrote to the full Board on 4th September requesting that it undertake a fundamental review of the Group's strategy in consultation with shareholders. In its letter, Knight Vinke also raised a number of important governance-related concerns and asked that the Board consider these as part of the review. Institutional shareholders who wish to share their views with us are invited to contact us by e-mail at hermitage@kvamllc.com. About Knight Vinke Asset Management (KVAM) Knight Vinke Asset Management is an institutional asset management firm which specialises in the linkage between value creation and better governance in large cap public companies. Its clients include some of the world's largest public pension funds and institutional investors, including, in particular, CalPERS -- the California Public Employees' Retirement System. This announcement is not intended, and shall not be construed, as an offer, solicitation, invitation or inducement to buy or sell securities or interests therein or other investments.
