Ed Bramson, the corporate raider laying siege to the £1.1 billion Electra Private Equity investment trust, has broken his silence to accuse the company of a string of shortcomings.
Mr Bramson, whose Sherborne Investors (Guernsey) B group began to build a stake in Electra in February, accused the company of flattering its investment performance, botching its balance sheet management and paying excessive fees to its external fund manager.
He also suggested that the Electra board, largely peopled with lawyers and accountants, was woefully short of hands-on industrial and commercial experience.
Mr Bramson claimed that he could create £1 billion of extra value at Electra in two to three years if he was allowed to take control of the board, by imposing more disciplined control of