US activist investor Jeff Ubben has promised to toe the line after being appointed to Vistry’s board.
The founder of Inclusive Capital and one of Vistry’s largest shareholders has been appointed to the board of the FTSE 250 housebuilder, but has accepted constraints on his actions before taking up his seat.
Last year, Ubben spearheaded In-Cap’s £1.5bn bid for Countryside Properties, which ended up being bought by Vistry. He was said to have been “instrumental” in that deal, having thrown his weight behind Vistry’s bid after his earlier offer was rebuffed.
In-Cap owns 5.9% of Vistry. Another activist investor, US-based Browning West, is Vistry’s largest shareholder, with 7.7%.
