Hedge fund Luminus Management said on Monday that it plans to call a special shareholder meeting at Valaris PLC and press for broader improvements at the offshore contract drilling services company which promised its own changes two weeks ago. Valaris’ stock price surged 12% on Monday to trade at $4.40 after Luminus publicly called on the company to improve operations, refresh the board and shore up governance. The hedge fund also wants management to “take a holistic and balanced approach to managing (it’s) capital structure, with a specific focus on ensuring liquidity, pushing out debt maturities and effectively …read more
Source:: Yahoo Finance
