Principle hit the headlines last week when it forced four directors to resign from digital imaging firm Photo-Me.
BPC&F is its first retained agency for this brief which will use the profile of founder Brian Myerson, one of the UK’s best-known fund managers. Myerson is regarded by some in the City as father of modern shareholder activism, a skill put to use in the Photo-Me discussions.
Principle, a 10 per cent shareholder, wanted to call an extraordinary general meeting to exact changes within the company. Three directors have since stepped down, and one is to leave at the end of the year, creating a ‘more independent board’ according to BPC&F.
BPC&F will provide fin-ancial and corporate public relations and investor relations advice to the firm and four of its managed funds: Principle Capital Investment Trust, South African Property Opportunities, PME African Infrastructure Opportunities and Principle Energy.
The agency said it would ‘manage publicity where it becomes necessary for Principle to take action to press for change in the companies in which it invests’.
BPC&F directors Ben Woodford and Mike Davies head the account. Principle Capital has around £200m under management with stakes in a variety of UK listed companies, including Photo-Me, Blacks Leisure and Luminar Leisure.